Head of Reward
C. Hoare & Co.
Total years of experience :6 years, 4 Months
C. Hoare & Co. are the UK’s oldest private bank and provide financial services to high-net worth individuals. Currently leading the Reward function, having historically led teams cross People Operations, Talent Acquisition, Colleague Insight, and Internal Communications. The role is combined with providing support and counsel to the bank’s Chief Technology Officer and Chief Financial Officer (c. 50% of the bank’s 600-person headcount).
People Strategy
o During the cutover of Chief People Officers, led the People Team and secured Board approval of new operating model and strategy for the People Team which saw the team’s headcount increase from 8 to 19.
o Ideation and delivery of the bank’s People Strategy which resulted in an employee net promotor score of +61 (moving from +7 to +25 in the first two years) placing the bank in the top 10% globally.
o Overhauled the team’s net promoter score from -55 to +72 within 12 months.
o Created an internal communication function and strategy that simplified the bank’s approach and boosted colleague understanding of key strategic messages.
o Product Owner for the bank’s office and technology refresh, focussed on enabling colleagues to succeed in a hybrid environment - budget responsibility of £7.5m. Responsible for establishing the bank’s approach to hybrid working.
o Established a colleague-led equity, diversity, and inclusion (EDI) framework - reduced the gender pay gap to 2%, shaped an environment where 88% of colleagues ‘bring their whole self to work’ and revamped family and personal leave policies to be market leading propositions.
Reward
o Overhauled the bank’s traditional approach to remuneration, in favour of a ‘pay for performance’ strategy that was approved by the Board and RemCo, delivering new variable pay and long-term incentive structures.
o Aligned salary and bonus reviews into a unified annual cycle and switched the bank’s remuneration policy focus from ‘base pay’ to ‘total compensation’ - saving c. £2m.
o Adjusted the bank’s pension strategy, to ensure colleagues took personal accountability for their retirement, consulting with colleagues to adjust the pension provisioning - saving c. £1.2m p.a.
o Introduced deferrals for Management Team (ExCo) and Material Risk Takers (MRTs).
o Completed a job family and role evaluation exercise, correctly benchmarking all roles against Aon’s external data sets, ensuring colleagues are remunerated fairly and to the correct levels.
o Launching a brand-new colleague recognition tool with WorkVivo.
People Operations & Transformation
o Established a People Operations team (shared service) which owns over 200 processes, allowing specialists within the wider team to focus on higher-value employee activities.
o Procurement and implementation of an Applicant Tracking System (Workable), saving c. £250, 000 per annum and an efficiency improvement of the end-to-end process, reducing time-to-hire by 33%
o Procurement and implementation of a new HRIS and payroll platform - Midland iTrent replacing ADP, saving c. £500, 000 per annum through both efficiency and headcount FTE savings.
o Overhauled the bank’s talent acquisition approach, reducing agency spend by 75%/£1m per annum whilst reducing failed probation rates by 80%
o Delivered an employee experience strategy that focussed on colleague touchpoints throughout the life cycle.
Executive Business Partner
o Act as an executive coach and trusted advisor to Management Team members.
o Ensure organisational effectiveness across the teams through active talent management, succession planning and organisational design interventions.
o Managed multiple organisational design changes, performance improvement plans and redundancies.
o Support with bi-annual pay, bonus, and appraisal activities.