Strategic Report
Financial Statements
Additional Information
Governance
Employees We have a strong and open company culture with shared values co-created by our employees. We value the contributions made by the whole team and aim to nurture a positive working environment. Employee engagement For the third year we have carried out an employee engagement survey across the whole team, excluding the Directors. Overall the scores were very positive, with over half of the questions receiving Agree or Strongly Agree responses. Issues that were raised by the team included: ‒ Training, particularly on sustainability, was well received and considered to be relevant; ‒ Flexible working arrangements were valued, with a split between working from home and in the office; ‒ Resourcing within the team given increasing demands particularly around sustainability; ‒ Communication between the Board and team to be reviewed; and ‒ Progress made against sustainability, and how this would be resourced in the light of our net zero carbon pathway. This year we held two offsite days for the team. The first looked at how we could make improvements in the way each team worked, while the second focused entirely on sustainability priorities, including how the net zero carbon pathway would be implemented and embedded into the way we worked. Diversity and inclusion We value the contributions made by all of our team and believe that a diverse workforce is key to maximising business effectiveness. We aim to select, recruit, develop and promote the very best people and are committed to creating a workplace where everyone is treated with dignity and respect, and where individual difference is valued. We aim to maintain the right blend of skills, experience and knowledge within the Board and the team. At the date of this Report, the number of men and women employed by the Group were: Men Women Board 4 2 Rest of team 4 3 Total 8 5
Training and development We want to encourage our employees to realise their full potential by giving them access to development and training opportunities. This year the amount of training carried out by employees was 1.6% on a time spent basis, in line with last year. Employee development is based on the following key principles: ‒ Development should be continuous; employees should always be actively seeking to improve performance; ‒ Regular investment of time in learning is seen as an essential part of working life; and ‒ Development needs are met by a mix of activities, which include internal and external training courses, structured ‘on the job’ experience and through interaction with professional colleagues. All of the Group’s employees have a formal performance appraisal on an annual basis, together with a mid-year review of their progress against objectives set at the start of the year. Community and social value We are committed to supporting the local communities where we own buildings. We aim to continually improve the impact of our buildings within local communities through not only providing space to local businesses and charities, but also through the improvement of local areas and minimising the environmental impact of buildings themselves. Further details can be found in our community and social value and charitable giving policies available on our website. We continue to support a variety of charities, and this year made donations of over £16,000. We have a longstanding relationship with children’s charity Coram and have recently entered into a charity partnership with them, which will increase our level of support through both donations and volunteering opportunities. In October 2021 Tim Hamlin, our Director of Asset Management, ran the London Marathon with all donations going to Coram. Other charities that we have supported this year include The Funding Network and LandAid, and we have made donations to current humanitarian crises. We have maintained our occupier matched giving policy, and also offer matched giving for employees who are raising money for charity. Suppliers and contractors We expect high standards within our business and from our suppliers. This year we have reviewed our supplier base and assessed the level of risk within our supply chain of exposure to modern slavery and human trafficking. Almost all of our suppliers are based in the UK and the majority are assessed as low risk. We have developed a number of clauses and these are being introduced into new contractual arrangements. We have implemented a supplier due diligence questionnaire which we are applying to all new suppliers, and will roll this out across existing suppliers.
Picton Property Income Limited Annual Report 2022
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