To be the preferred employer for the very best people in our sector by providing an entrepreneurial environment that offers opportunities for our people to develop and thrive.
To attract, retain and grow a talented workforce, providing equal opportunities for all, whilst nurturing a sense of pride in being part of Vitec.
Our employees are the best in the sector, our greatest single asset and critical to our success. Passionate, motivated and skilled employees in safe working environments directly contribute to our strategy, performance and reputation.
We aim to provide our employees with an engaging and stimulation entrepreneurial environment where they are encouarged to learn and dvelop. We communicate with our employees on a regular basis using multiple channels, keeping them informed of business performance at a Group and Divisional level.
Business overviews, results and key events are shared with employees via regular all-staff emails and videos from the Group Chief Executive which are uploaded to the Group intranet, displayed on noticeboards and translated into local languages. Employees also receive updates on performance and business issues on a regular basis from Divisional senior management. The Group's senior leaders from all Divisions met in November 2019 in the UK to discuss strategy, budgets and cross divisional projects.
More informal communications also take place. Breakfast with the Divisional CEO is an informal opportunity for employees in our Imaging Solutions Division to exchnage ideas and opinions on business strategies and takes place globally. Welcome meetings tak place at the Imaging Solutions' sites quarterly to introduce new colleauges to the business in an informal way. "What's Up" is a newsletter published to Imaging Solutions' US employees to inform them about importnant business news, along with events, activities, training and birthdays. They also participate in monthly "Time Out" events, encouraging employees to get together to hear business updates while socialising and enjoying activities and employees are encouraged to put colleauges forward for "Employee of the Month" award, recognising and appreciating hard work and ingenuity. In the Production Solutions Division "The View" is a quarterly publication sent to all employees updating them on business activities, product launches, employee initiaitives and introducing colleauges. "On Air" is a local publication to employees in the Bury St Edmunds, UK office which lets them know about local events and updates on operations at that site. "All Hands" meetings take place at the major Production Solutions' sites, allowing employees to hear regularly from management.
Several other initiatives and activities to keep employees engaged in the workplace and to bond with colleauges were undertaken at sites around the world. These included Thanksgiving and Christmas lunches, wellness fairs, on-site massages, meditation coaching, sporting classes and competitions, and cooking contests.
Below 1: CEO breakfast in Imaging Solutions
Below 2: New employees' welcome meeting
Health and well being
Vitec understands the importance of healthy and nurturing working environments for our staff. The site at Bury St Edmunds, UK, which opened in March 2018, was developed following detailed consultation and involvement with employees. It provides upgraded facilities, including a new, open-plan office environment, on-site catering, which forms the hub of the site, as well as access to car share and bike schemes to make travelling to work easier. it has been nearly two years since the move and employees are well engaged with the site and its facilities.
A smiliar process is being followed involving employees at our Shelton, US site. That facility is currently being refurbished to provide a modern and exciting working environment.
Many Vitec locations are now providing free or subsidised healthy eating facilities on-site, and workplace health and gym memberships. In all sites and offices, healthy snacks and fruit are provided for all employees as well as on-site shower facilities for thos who wist to exercise on their way to work.
Health and safety
An important part of our culture and ethos is to ensure that all our colleagues are able to work in a safe and secure environment and we encourage our management and employees to actively take responsibility for this.
We promote robust health and safety procedures in compliance with the Group's Health and Safety Policy. This policy sets guidelines for the prevention of accidents and work-related ill-health and provides guidance for the adequate control of health and safety risks arising from work-related accidents.
All accidents and near misses are reported, whether they result in absence from work or not. Any remedial actions are identified and implemented to prevent repeat occurences. Reporting is prompt and any accident resulting in over three days' absence is reproted to senior management as well as the Group Chief Executive within 24 hours.
Our five-year accident record is shown below and details the number of accidents resulting in over three days' absence from work across the Group. There were two such accidents in 2019; the same as in 2018. Both of these accidents were fully investigated and key issues identified to try to ensure they are not repeated. There have been no work-related fatalities since the Group began collating health and safety statistics in 2002.
Accident Record Chart
|2 accidents||2 accidents||7 accidents||4 accidents||5 accidents|
|Representing 117 accidents per 100,000 employees||Representing 116 accidents per 100,000 employees||Representing 418 accidents per 100,000 employees||Representing 239 accidents per 100,000 employees||Representing 273 accidents per 100,000 employees|
|Average number of employees – 1,714||Average number of employees – 1,723||Average number of employees – 1,675||Average number of employees – 1,676||Average number of employees – 1,833|
All major sites have Health and Safety Committees who hold regular meetings to review safety, ensure that operating practices are safe and address potential safety concerns.
The Production Solutions' sites in Cartago, Costa Raica and Bury St Edmunds, UK as well as the Imaging Solutions' sites in Cassola and Feltre, Italy, had their OHSAS 18001 occupational health and safety accreditations reconfirmed for 2019 and the Italian sites moved to the standard UNI EN ISO 45001 in early 2019.
An ergonomics project was initiated in Feltre, Italy in 2019, which educated employees on safe working practices to prevent long-term issues when completing repetitive tasks and to consider employees' existing physical limitations. Training was provided on safe workplace practices and improving health. The Italaian sites continue to promote their "Are you working safely?" campaign.
One minute risk assessments have been introduced at our Bury St Edmunds, UK site comprising a pocket-sized checklist to help employees identify hazards and controls. Additional training on pollution and spillage issues along with health and safety awareness training has been introduced globally in 2019.
Sharesave 2019 poster
Receiving an award from ProShare for "The most effective communication of share plans for companies with up to 5,000 employees"
Sharesave is a fantastic benefit for our employees, enabling every employee to share in the growth of the Company and I am delighted that nearly 70% of eligible employees have joined.
Stephen Bird, Group Chief Executive
We continue to offer the Sharesave Scheme to all our employees in the UK, US, Italy, Costa Rica, France, Germany, Singapoe, Hong Kong, Japan, Australia and in 2019 extended it to cover employees at Amimon, Israel and Syrp, new Zealand following the acquisition of those businesses. Sharesave allows employees to save a fixed monthly amount between £5 and £500 with the option to purchase a fixed number of shares in the Company at a discount of up to 20% on the prevailing share price at the time of the offer. Sharesave is extremely popular among our employees as a valuable employee benefit and we have specifically improved communication of Shresave to employees to ensure it is well understood and that as many employees as possible participate in the scheme. This has included face-to-face presentations at sites and eye-catching communications. In 2019 this was based on the Wild West/Spaghetti Western genre of films. In previous years we have used Superheros and Retro SciFi to promote Sharesave. Communications use plain language to explain Sharesave and the application and maturity process has been improved with online applications to streamline the process. As a consequence, participation rates have continued to improve and by the end of 2019 around 1,100 Group employees participated in Sharesave across the Group.
The value of Sharesave to our employees is demonstrated by the offer made in September 2016 at an option price of £4.85 per share. This matured on 1 November 2019 with around 140 employes exercising their options and many making a gain on exercise of over £7 per share.
In December 2019 we were again recognised for our effective communication and high participation rates for Sharesave, receiving an award from ProShare for "The most effective communication of share plans for companies with up to 5,000 employees". We plan to offer Sharesave in future years to enable as many of our employees as posisble to share in the success of the Company and are seeking shareholder approval to renew the rules of the Sharesave Scheme at the 2020 AGM.
|Level of Sharesave participation as at 31 December 2019|
|Country||Outstanding options||Number of participants|
|United States of America||323,519||299|
It's great that the Company gives us the chance to join Sharesave and be rewarded when the Company does well. The online application process is straightforward and the annual booklet gives you all the necessary facts.
Andy Murrow, Vitec Production Solutions, UK
We employ around 1,700 people in 11 countries who are managed in accordance with local employement legislation, policies and our organisational values. The Group adopts and adapts comprehensive benefits packages as appropriate to ensure we attract and retain the right talent. These benefits assist in supporting our employees and allow us to remain competitive in a global market where talent is in short supply. A supplementary labour agreement was negotiated during the year for Italian employees with the aim of keeping pace with the latest ways of working in the new digital era, especially making employees feel part of the Company and to ensure work/life balance.
Employees are given the option to join pension plans appropriate to local markets. In the UK, this involves a Company-approved pension plan with minimum employer and employee contributions, and in the US a 401k plan. Since April 2014 in the UK, all employees except for those who have expressly opted out, are auto-enrolled into a qualifying pension plan.
Our UK defined contribution pension arrangement is with Hargreaves Lansdown and we are committed to improving employee education on pensions and other financial matters and to improve the overall pensions offering. Hargreaves Lansdown ran several workshops at our UK sites in May 2019 with particular focus on the investment decision-making taken by employees and expectations around retirement. As a consequence, we have seen higher levels of engagement and investment decision-making by employees. Over 330 employees in the UK now participate in the Hargreavs Lansdown pension arrangement and investment in the default fund reduced from 86% in 2018 to 55% by October 2019 as employees took control of their investment decisions. Further educational workshops will be held in 2020 to help educate our UK employees on this important employee beneft.
Vitec is supportive of employees enjoying a healthy work/life balance. Flexible working policies are in place at most of our locations, and a positive impact can be seen. In our Production Solutions Division, changes introduced allowed several employees to reduce the time of their daily commute to work. Another aspect of creating a balance is an inclusive attitude towards employees' family life. Imaging Solutions in Italy hosted two Summer camps for employees' children aged between three and 14, offering a range of sports and training activities. More than 50 children attended the camps. Imaging Solutions also strives to offer its employees flexible working options, for example flexibility on working location as well as start and finishing times with prior agreement from management.
Each Division provides further benefits for employees: discounted childcare options and gym memberships in the UK and US; long service awards; or a cash allowance to be spent on a multitude of benefits such as gym members or private healthcare to suit an individual's needs in Italy.
Training and development
Vitec aims to offer a comprehensive training and development programme, linked to performance reviews and development plans, taking all Divisional requirements into consideration. In 2019 the Executive Management Board repeated its review of its own leadership and succession plans to ensure there was a structured approach to growing and developing the Company's future leaders.
All employees receive training on health and safety procedures that are appropriate to their line of work and environment. For example, training in warehouse operations, working at heights, fire safety or more general initiatives to make employees aware of the dangers that can be encountered in the executive of their various duties.
Much of Vitec's strength lies in the expert knowledge of our people. It is vital that our employees understand, and are passionate about, pour products and technologies. The Imaging Solutions Division invited some of its key photography ambassadors to meet with employees in Italy so that they could learn more about our customers and to share their knowledge, skills and passion for the imaging world and our products. Feedback from ambassadors helped the research and development teams with new product development processes. An induction programme in Bassano and Feltre, Italy, was introduced for all new and existing employees to understand the products better and obtain updates on the business and product development.
We continually review and expand training options for staff. Following the implementation of a new digital and e-commerce business model in Imaging Solutions in 2019, many employees received training relevant to the new digital organisation that they would be part of. Training programmes are developed to suit individuals' needs and covered items such as e-commerece, marketing, finance, languages, tax and leadership in 2019.
Below: Manfrotto brand ambassador Salvatore Esposito visits Imaging Solutions' HQ in Italy
We encourage a culture of active participation in the communities in which we operate and staff around the world give their time and money to various social programmes in their local communities. Employees from the Production Solutions Costa Rican facility continued to work with children in a local primary school to encourage them to continue in education and to choose a technical or engineering career. Donations of tools to technical schools and hosting work experience students in Costa Rica helps to upskill local students and foster a long-term relationship between the school and the site.