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The recruitment, development and retention of a capable and diverse pool of talent is key to our success.
We provide training and opportunities for career advancement and reward our employees fairly. We recognise the importance of the satisfaction and wellbeing of our employees and support them by creating a healthy workplace and with tools to improve their mental and physical health
Advancing our strategic objectives depends on our ability to attract, retain and motivate smart people. We therefore provide our employees with the opportunities, experience and training to contribute to the success of the organisation, achieve their potential and grow their knowledge and capabilities.
We encourage employees to take responsibility for their own development, working with their line managers to devise personal development plans to support the achievement of their individual aspirations, consistent with 3i’s objectives. Given the specialised nature of many of the roles in 3i, an emphasis is placed on work-based learning, with the provision of development opportunities supported by appropriate training and mentoring. This is supplemented by formal courses conducted both internally and externally and usually with a multinational group drawn from across the countries in which 3i operates.
During the year to 31 March 2023, we provided formal specialist training on areas and skills including:
Our investment executives regularly receive education on issues of wider topical interest and impact. Last year, our Infrastructure investment team received training focused on GHG emissions target setting, sanctions and greenwashing litigation risk.
Importantly, in FY2023 we arranged training sessions targeted at all staff focused on climate change. These were held by a leading expert and business adviser and attended by nearly two thirds of staff, including a significant proportion of our investment professionals.
In addition, we launched an internal 3i mentoring programme in the year, open to all employees. We organise periodic induction sessions to welcome new joiners, with presentations from the Chief Executive and other senior executives on different areas of the business, and allocate a buddy to new joiners to help with the induction process.
Key to personal development for all employees is a formal annual appraisal process, where performance is measured against agreed objectives and against 3i’s values to inform decisions on remuneration, career development and future progression. Employees are encouraged to make use of an online facility to obtain 360-degree feedback as part of this process. All employees receive formal performance assessment and objective-setting reviews with their managers annually and may receive informal reviews throughout the course of the year.
Our workforce is very international and our 249 employees at the end of March 2023 were of 26 different nationalities. We value highly the diversity of perspectives and experiences this brings.
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3i is an equal opportunities employer and prohibits unfair discrimination. In light of our small workforce, we do not set specific diversity targets, but we seek to create, through our culture and policies, a work environment that helps to bring out the best in our employees.
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Our policies are consistent with internationally-recognised human rights principles such as the UN Global Compact.
We comply fully with applicable human rights legislation in the countries in which we operate, for example covering areas such as freedom of association and the right to collective bargaining, equal remuneration and protection against discrimination.
Due to the small number and diverse functions of our employees, as well as the nature of our business, our employees are not, in practice, unionised and do not engage in collective bargaining. We do not procure services from, nor invest in businesses which make use of slavery, human trafficking, forced labour, compulsory labour or harmful child labour.
We published our statement on modern slavery for the financial year ending 31 March 2022 on our website in September 2022, and will update this statement in September 2023. 3i is committed to ensuring that:
