Base salaries are determined by careful consideration of the external market and internal comparators.
Salaries are reviewed annually to account for increases to the cost of living and individual performance.
We aim to pay at least market median and access a global market survey to ensure a level of consistency in approach across our markets, particularly at the senior levels.
Additionally, we are proud to pay the Real Living Wage to our directly employed UK workforce to support a better standard of living.
Base pay structures are in place wherever possible to support salary & career progression across all levels
Performance plans & variable pay
We have annual performance plans in place for everyone in our management and senior leadership roles. Performance criteria focus on relevant financial measures; growth; service and personal objectives.
In addition to the performance criteria that drive payment under the plans, the plans recognise ‘non negotiables’ including employee engagement and regulatory compliance.
We believe that there should be a clear link between outstanding performance and reward. We achieve this in part through ensuring that employees are appropriately rewarded for overachievement in their annual performance plans, enabling them to attain up to 150% of their bonus percentage.
For roles which sit outside the annual performance plan we recommend that all our markets provide variable pay linked to local requirements for employees at every level.
All eligible employees are able to share in our success and become shareholders of the company through participation in our Global Share Incentive Plan, One Plan.
One Plan is available to employees who have more than 3 months service with the company. The Plan enables employees to purchase shares directly through their pay. We match any shares purchased exactly, doubling our employee’s investment in HomeServe at no additional cost to them.
We operate a Long Term Performance Plan for which our executive directors and senior leaders are eligible, as well as those roles deemed ‘critical talent’.
Wellbeing & lifestyle benefits
We provide a range of wellbeing benefits which are specific to the requirements of each of our markets. This include
- Employee assistance programmes
- Private medical insurance
- Enhanced sick pay and enhanced family leave benefits
- Opportunities to buy & sell annual leave
- Access to financial wellbeing support and retailer discounts
- Local wellbeing support initiatives, such as mental health first aiders, annual flu vaccination programmes, access to occupational health professionals and "summer hours", which gives some teams the option to log off at lunch time on summer Fridays if their work for the week is complete
We recognise the importance of healthy mental wellbeing and offer all our employees access to an app to support this.
We respect the need for our employees to have a good work/life balance and support flexible working arrangements wherever possible, including part time working, job sharing and working from home.
We understand how important our employee’s homes are – now more than ever - so many of our employees now have access to our highest level of cover free of charge to offer peace of mind and a HomeServe engineer to be on hand if something goes wrong (Membership businesses only).
Each of our markets operates a local recognition programme to reward the discretionary effort and outstanding contribution of our employees.
We encourage innovation right across the company with a bi-annual programme of CEO sponsored innovation awards.
Learning and development
Our ambition is to make sure that everyone’s career is supported by learning opportunities, which includes self-learning, attending conferences, peer-to-peer mentoring, coaching and structured programmes.
We believe that individuals who engage in their own personal development are more motivated, more self-aware, and fulfil their career aspirations.
Our Group-wide talent programmes add value to our talent pipeline, and they are now seen as prestigious and aspirational offerings for our emerging talent. Nominations for the programmes are made at the twice yearly talent reviews which involve a full review of the global talent measures to assess if we have the capacity, capability, and potential within our talent pools to meet our future needs.