We aim to employ the best people in the business. Their talent and dedication are what make our growing business so successful. We offer competitive reward package and a supportive environment in which they can enjoy their work and reach their full potential. That involves recognising that employees have lives outside work, and giving them opportunities to work flexibly where possible.
We recruit and promote people only on merit, regardless of race, gender, religion, marital status, sexuality, disability or age.
Rewards and benefits
We reward excellent performance with an excellent reward package consisting of salary, bonus and benefits. We encourage employees to align their success with that of the company through performance-related pay and bonus schemes, savings-related share option schemes and executive share option schemes.
Watson Wyatt benchmarks our reward packages against the financial services industry as a whole; in London, against the Lloyd’s market; and elsewhere against relevant industry standards for that country.
Training and development
Employing the best people requires a commitment by the company to giving them every opportunity to fulfil their potential through learning and development. Our unique learning and development programme is tailored to each individual, whose training needs are reviewed twice a year along with performance against clearly set objectives.
Communication and participation
For employees to do their best, they must understand the business and their role in it. For this, communication is essential. We keep employees up to date with the business through formal briefings, team meetings, intranet bulletins and video conferences, as well as more informal means. Managers take these opportunities to listen to employees and involve them in the development of the business. We also have a monthly ‘e-zine’ which gives employees updates on company news and social events.
Hiscox is a modern business with traditional values – courage, quality, integrity, excellence in execution, and respect. Together these values make up what we call the Hiscox spirit: ‘challenging convention’. This spirit determines the behaviour we expect from all employees, and guides the way we do business. Our success as a business, our ability to create value for shareholders, depends on it.
We safeguard our culture by offering employees a confidential whistle-blowing service, in the unlikely event of someone having a material concern relating to the operations of the business. We also subscribe to ‘Public Concern at Work’, which provides free legal advice to any employee with a concern about possible danger or malpractice in the workplace.
In line with our values, Hiscox believes in the highest standards of corporate governance, while being in essence a non-bureaucratic organisation. We have an effective and firm system of internal controls that ensures we manage risks within acceptable limits, but not at the expense of innovation or speed of response. Continuing to get this balance right is one of our greatest strengths.
“I was really surprised by the thought that went into the personal presence and impact training. The out-of-the-box thinking has provoked me to do things differently – not something you’d expect from an insurance company.”