They are good with money at St James’s Place. Between them, the financial service company’s charitable foundation and staff fundraising events have drummed up more than £4m for good causes in just over a decade.
Seventy per cent of staff — the fourth-best score in our survey — are convinced the motivation for the company’s charitable activity is not solely a desire for good publicity. Almost three-quarters praise its support for community projects.
A remarkable proportion of employees — 85% — contribute to the foundation through covenants or gift aid and the company has put in £1.7m in matching donations. Fundraising events have included a trek on China’s Great Wall and a marathon in the Sahara. Groups of staff have been sent to eastern Europe to see the fruits of the company’s projects there.
The firm was set up in 1991 by Sir Mark Weinberg and is now a wholly-owned subsidiary of St James’s Place Capital.
Staff have a stake in the profits derived from investing more than £5 billion of assets for the celebrity classes. When company objectives are met, all staff are issued with shares.
Although revenue has fallen slightly in the past year, workers feel well rewarded for their efforts. The average performance- related bonus last year was £1,038. Most employees have a company car, and staff based in London are given interest-free loans to buy season tickets on public transport.
The firm puts 10% to 15% of salary into a non-contributory pension scheme.
St James’s Place promotes a good work-life balance. Employees may take discretionary unpaid leave and attend courses on stress or time management. The company also provides private healthcare and well woman and well man clinics.
There are private rooms for nursing mothers who have recently returned to work. Flu injections are offered to all staff each November and the company pays for eye examinations.
The Christmas party is one of the highlights in the social calendar. All workers and their guests are invited to a five-star hotel where the company pays for them all to stay overnight.
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