People are the key to our success. We aim to develop careers by promoting talented individuals to positions of leadership.
In what has been a very challenging year, the well-being of our people has continued to be of the upmost importance.
In response to the COVID-19 pandemic, we enhanced our lifestyle programme, with a focus on resilience and healthy home working. We provided additional support to employees, where needed, and we supported a number of initiatives which encouraged our employees to stay active whilst they were working from home.
We consulted with our people prior to the offices reopening when permitted, and individual risk assessments were completed.
We carried out risk assessments of our offices at Lillie Square, 15 Grosvenor Street and Regal House. The measures below were put in place to ensure the offices were COVID-secure and in line with government guidance:
- Enhanced cleaning measures and regime implemented
- Hand sanitisers were positioned at multiple points on each floor
- Social distancing measures were clearly signposted throughout the buildings
- Perspex screens were installed on Reception areas and between desks in open plan spaces
- Plasma air ionisers were fitted to air conditioning filters
- One way systems were introduced in each building with particular emphasis on common areas such as stairs, WCs and kitchens
Our aim is to manage talent effectively and ensure that we have sufficient capability to realise our strategy. We regularly undertake succession planning exercises to review the talent pipeline and progress individuals according to capability.
We have a graduate recruitment programme for top graduates who pursue an internal programme of training and mentoring, which will ensure they are well prepared for the Royal Institution of Chartered Surveyors (“RICS”) Assessment of Professional Competence (“APC”). Each graduate is assigned an experienced Capco counsellor and supervisor who guides them through the APC process.
New opportunities that arise in the business are advertised internally and we aim to promote internal candidates in order to enhance career development and encourage mobility across the Company.
TRAINING AND DEVELOPMENT
Capco training and development programmes are designed to strengthen our teams and challenge aspiring leaders.
Individual training and development needs are identified and discussed at performance review meetings with line managers.
During 2020, our employees recorded 456 hours of training activity. Mental Health eLearning was provided to all employees.
We sponsor individuals undertaking further professional qualifications, and encourage continuous learning, reflecting our commitment to a knowledge-based environment.
We recognise that coaching and mentoring can have a significant impact on behaviours, and key employees continue to benefit from bespoke coaching programmes.
Annual performance objectives for individuals are agreed at performance review meetings, which take place at the beginning of the calendar year. Performance is measured against objectives set for the previous year and individual performance ratings underpin discretionary annual bonus awards.
We regard the giving of regular and direct feedback as a core competency of effective leadership and encourage line managers to appraise performance regularly during the year.
A new online performance management system was introduced at the end of 2020, building on our continuous performance and development culture in order to increase productivity and performance.
Capco promotes a high-performance and entrepreneurial culture, reflective of our business strategy. Capco people operate with integrity and are supportive of colleagues across the business. Employees are particularly engaged with the business and understand the difference they can make in progressing our strategic objectives.
We have an inclusive approach and aim to help people develop and realise their potential. Capco people are results-driven and brave in their approach to new ideas. Many of our people are in new roles and have assumed increased levels of responsibility since joining Capco.
We support new parents returning to the workplace, and encourage our people to adopt a healthy attitude to work-life balance and to participate in the community. We provide maternity coaching to senior female employees to provide additional support in transitioning back into the workplace.
In addition to core elements, we reward people with an attractive package of additional benefits, which includes private medical insurance and dental cover. The Company now contributes up to 15 per cent of salary to the MyCapco pension scheme, which was increased from 10 per cent of salary in 2021. Our policy is to enable employees to take their full annual leave entitlement of 28 days per annum, rising to 30 days after four years’ service, and we offer a flexible leave policy under which employees have the ability to buy and sell up to five days’ holiday per calendar year. All employees have access to a bi-annual medical through our external company GP based in Harley Street.
LIFESTYLE AND WELL-BEING
In 2020, our lifestyle programme was enhanced as a result of COVID-19, with a greater focus on resilience, mental health, wellness and financial well-being. A range of virtual educational seminars were provided for our employees on a wide range of topics, including mental wellness, nutrition, alcohol awareness, spinal health and upper limbs issues and financial well-being.
Additional support was provided to employees, where needed, in the form of counselling, check-up calls from the Company’s private GP and welfare calls from HR and line managers.
We encouraged our employees to stay active whilst they were working from home. A number of employees completed the 2.6 Challenge in April, and raised money for charity in aid of The Trussell Trust, which the Company match-funded. In addition, a month-long employee well-being challenge “Steptober” took place during October with over half the Company participating. A charitable donation was made to LandAid’s Steptober challenge.
The aim of our reward strategy is to compensate people for high performance and to incentivise them to strive to improve.
Core compensation packages at Capco comprise three elements: base salary, discretionary performance bonus and discretionary share awards. We regularly benchmark our approach to reward to ensure that we are appropriately competitive in the market.
Awards are made annually and take into account performance during the year.
All Capco employees are eligible to receive share awards so that everyone can participate in the success of the Company. These awards have a three-year performance period and are subject to corporate performance conditions.
We believe that every person in the Company has a part to play in generating value and we understand fully the benefits of a diverse workforce. Diversity is considered when making appointments at all levels.
We are keen to develop female talent across the business and provide executive coaching to our senior leadership team. There is strong female representation across the business. A summary of gender diversity across the Company as at 31 December 2020 can be found on page 70 of our 2020 Annual Report, available here.
We regularly review our policies to be a more inclusive employer and introduced a menopause policy at the end of the year. We also enhanced the Company maternity pay and shared parental leave benefits, which each now pay six months’ full pay.
We support a number of initiatives which aim to increase diversity within the property industry, including being a signatory to the RICS Inclusive Employer Quality Mark, a member of the Employers’ Network for Equality and Inclusion (“ENEI”), a member of Real Estate Balance, a sponsor of the Reading Real Estate Foundation and a supporter of the Pathways to Property work experience programme. Capco is a corporate member of the British Property Federation (“BPF”) and supports the BPF Futures programme. In addition, Capco is a member of the BPF Diversity and Inclusion Champions network. A number of employees are involved with the Urban Land Institute (“ULI”) and the ULI Next and Young Leaders Programmes. We have a policy to promote equality in relation to race, religion, gender, age, sexual orientation, disability and nationality amongst our employees.
Capco has adopted a Corporate Responsibility policy and a supply chain policy which reflect a responsible approach to human rights. Both policies are available here.
SUSTAINABILITY AT CAPCO’S HEAD OFFICE
In December 2020 Capco consolidated its head office into two floors at Regal House on the Covent Garden estate, vacating its Mayfair office. We were keen to adopt a reuse strategy for excess furniture and equipment, and appointed Reyooz, a sustainable clearance firm, to help achieve this. Some desk chairs were donated to employees to assist their home desk set-ups whilst working from home and, via Reyooz, Capco’s unwanted furniture has helped a broad range of charitable organisations. To date, 12,906kg has been diverted from landfill or incineration, creating an embodied carbon saving of 32 tonnes and generating an estimated social value of over £51,000 as part of the process.
We take a responsible approach at our head office, discouraging the use of single-use plastics and recycling wherever we can. In 2020 we recycled 820kg, saving 1,150kg of CO2 as part of our day-to-day head office activities. In 2021 we intend to create a sustainability guide for our head office to further encourage a responsible consumption and production culture.