section 172 statement succession group limited
Section 172 (1) statement - Succession Group LTD
The directors promote the success of the Company for the benefit of the shareholders as well as the employees.
The Company does not employee any staff directly. All contracts are held in other Group companies. The Group is an equal opportunities employer and is committed to a policy and practice of treating all employees and job applicants equally. The Group aims to ensure that the diversity of the communities in which it works is reflected at all levels within its workforce. In 2019 the Group published its report surrounding Gender pay and this can be found on the Group’s website. Since 2017 the Group has made significant improvement in its gender pay gap for both pay and bonuses.
The Group’s policy is to consult and discuss with its workforce matters that affect their interests. The workforce not only includes employed staff but also any self-employed financial advisors. Information is given through information bulletins and reports which are shared via our internal online portal ‘Campus’. These seek to achieve a common awareness on the part of the whole workforce of the financial and economic factors affecting the Group’s performance.
The workforce is asked to communicate with the board by taking part in an annual engagement survey. The survey is completed anonymously with the aim of ensuring that the workforce’s voice is heard and considered when decisions are being made.
Updates are also provided directly by the CEO who produces regular (at least monthly) video updates with guest speakers from across the Group and he covers financial, commercial, regulatory, HR and social updates.
During the year, the Board reviewed our arrangements and approved Succession’s Modern Slavery and Human Trafficking Statement which sets out the steps taken to prevent modern slavery in our business and supply chains.
The Group’s Modern Slavery Act Statement is published on our website.
Directors aim to work responsibly with our suppliers. As a Wealth Planning business, the Group controls and owns all client services and solutions and therefore the supply chain includes fund managers, investments solution and technology providers, as well as consultants or advisors in specialist fields.
As well as suppliers of investment and insurance solutions, pension products and bespoke advice. The Group engages with many other suppliers such as business premises providers, stationery suppliers, energy providers etc. In January 2020 we introduced new and enhanced Procurement and Third-Party policies and the business is reviewing all its current supplier contracts against these standards.
Community and Environment
The Group launched Succession Giving in 2009 which has supported a variety of both national and local causes. Nationally, the Group is supporting Macmillan Cancer Support, with its regional offices also supporting local charities through fundraising and volunteering opportunities. The Group changes its adopted national charity periodically based on an employee vote so that other worthwhile causes can benefit from our fundraising efforts.
Throughout the year, everyone within the Group is encouraged to get involved with fundraising and volunteering activities, with all funds raised split equally between the national and local charities.
In addition to the above in June of each year, the Group holds its “Succession Wealth Communities Day”. All offices are closed for the day, and staff dedicate that time to raising funds for charity or spending time in the local community volunteering. Events have ranged from busking, helping at local hospitals, charitable walks, gardening at a local school and helping the homeless. The proceeds from Communities Day are matched by the Group.