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How your Society has performed in 2018/19
Your
Society
Strong today,
investing for tomorrow.
Highlights and introductions from your Chairman and CEO
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Jade, member since 2013 and
Sienna, member since 2016
How we’re
building
society,
nationwide
Who we are, what we do and what we’re investing in.
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Ian, member since 2003 and
Patty, member since 2016
Helping more
members
make more of their money
Helping our members buy their first home is just one of the reasons we were founded.
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Jay, member since 1999
Keeping our Society
and our
members'
money safe
We’re here to keep our members’ money exactly where it should be.
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Andreas, branch manager since 2005
Striving to serve our
members
better
every day
We think face-to-face service is still really important.
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Carl and Jacob, members since 2018
Creating
the right
culture
to do the best for
our members
Our employees are a big part of who we are and how we’re run.
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Elrich, IT Disaster Recovery Analyst since 2016
Supporting
communities and
making a
difference
We’re working with local communities to make sure everyone has a place fit to call home.
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Adam, Rock Trust project worker
How we’ve
performed
this year
See how we’ve been performing this year and whether we’ve hit our targets.
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Victoria, Member since 2003
All about
our finances
We’re here to offer the best long-term value possible to our members.
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Melissa, member since 2013

Building PRIDE

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We have so many people working here at Nationwide. We’re all from different backgrounds with different perspectives.

And we know that those differences make us stronger and help us understand our members, who are also hugely diverse. Some of our people have been with us for over 40 years, some are brand new. Some have come from university, others have joined us from other organisations. And recently, we’ve had more and more apprentices coming to work with us.

Elrich is 21. He went to school in Swindon and as the time came to leave, he decided to look into an apprenticeship. That’s when he thought of us. He joined the Society’s apprenticeship scheme back in 2016.

“Since then, I’ve been promoted to IT Disaster Recovery Analyst and have been given extra time to study for my degree in Business Management. I feel like Nationwide has really supported me, both in my work and my studies.”

Kate, our Emerging Talent Manager here at Nationwide, looks after our apprentices.

“We believe that encouraging our employees to build their careers in the way that’s best for them means they’re happier at work. And that means they’ll be doing their best for our members, too.”

“I feel like Nationwide has really supported me, both in my work and my studies.”

PRIDE is a statement of the culture, values and principles we strive to live by. It’s about how we treat our members and each other.

We’ve worked hard to create a working environment where people are valued, teamwork is celebrated, and everyone can grow and develop their careers.

We have a strong culture and committed colleagues. This is evident from this year’s employee engagement score, which at 79% (March 2018: 78%)1, continues to be above the high-performing benchmark1 of 77%.

However, our rapidly changing world demands new skills and behaviours from our people: we need to be more innovative and able to work at pace. To help us achieve this, we developed a new people strategy last year. Our goal is to develop leaders at every level of our business to inspire and empower our people, and to help them learn new skills and capabilities. In the coming year, we will also be actively recruiting up to 1,000 technology specialists to support our technology investment. We have an approach to reward and recognition that recognises every colleague’s contribution based on the Society’s overall performance.

Culture and values underpin our success

Building society, nationwide is our purpose, and achieving that requires all our people to understand our strategy and live and breathe our values every day.

We know from independent surveys that our ethic of care for members and each other is strong. The Banking Standards Board culture survey2 showed that 92% of our people believe we put our customers at the centre of business decisions, a clear indication that our mutual values are shared throughout the Society.

However, we face new challenges in a world being redefined by technology, and we need to evolve our culture to meet these. We want to move from prescriptive approaches to clear principles and values that genuinely empower our people and we are focusing on this in our annual employee awards, by encouraging people to compete in new categories such as ‘have a go’, ‘growth’, ‘fresh perspectives’ and ‘mutual good’.

Empowering our People

We’ve launched a number of initiatives to support a move towards individuals feeling more accountable and empowered, notably the Arthur Webb challenge cup. In its second year we have seen over 700 colleagues join cross-community teams to work towards producing simple, innovative solutions to improve our employee and member experience. We are now focusing on challenging structural barriers to change, such as policies, governance and procedures, and encouraging colleagues to be more experimental.

Employee gender split

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Employee BAME split

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Developing leaders at every level

Over 1,000 leaders have now taken part in our flagship Leading for Mutual Good programmes that we launched last year to develop senior leaders. In addition, we’ve introduced Developing My Leadership learning modules that put our managers in control of their skills development. So far, the modules have a 98.6% recommendation rate from the 1,600 colleagues who’ve taken part.

We are also identifying ways in which we can provide roles and experiences that will stretch and broaden our leaders, so we can meet future demands.

Creating a learning organisation

We are expanding our online learning resources so that every colleague can develop their skills and knowledge. We’ve launched a new development framework that translates our PRIDE values into demonstrable everyday skills and behaviours. Over 2,200 colleagues have used this to take part in learning relevant to them since April 2018. We’ll continue to develop the platform to support lifelong learning and development of our people.

Investing in the skills to deliver a fully digital organisation

Our technology investment to upgrade and develop our digital capabilities means we need to attract technology specialists to Nationwide. We’ve created a Technology Talent Squad to address this people challenge, responsible for both helping existing colleagues develop new skills and recruiting up to 1,000 new specialists – from software engineers to agile delivery experts – to work in Swindon and London.

Rewarding and recognising people

Fair pay and reward remain an important part of our ethos. This was the second year of Sharing in Success, our reward scheme that recognises every colleague’s contribution based on the Society’s overall performance. Instead of individual bonuses, all our people receive a variable pay award which in 2019 was 8.7% (2018: 9.5%). The award reflects our success in achieving things that are important to members – giving you better service than our peer group, serving more of our members’ needs, and achieving our cost-saving targets.

We also made a significant change in how we celebrate loyalty and long service. Following feedback from our people, who told us they valued time off to spend with friends and family, we have introduced a paid six-week sabbatical for everyone who works for Nationwide for 25 years.

Promoting diversity and inclusion


Our diversity and inclusion agenda is about creating a working environment where all our people feel valued, and able to combine their unique talents with those of other colleagues to make our Society stronger and more successful.

In 2015 we set ourselves challenging diversity targets to be achieved by the end of 2020. We’re pleased to have met our gender target, for women to fill between 33-35% of our most senior roles, ahead of schedule; 34.9% of senior roles are filled by women. We’re also close to achieving our target of 2.6% of roles at all levels being filled by disabled people (currently 2.5%). However, despite considerable efforts, achieving our Black, Asian and Minority Ethnic (BAME) targets has proved much more challenging than we anticipated. We were aiming for 8-15% of senior roles to be filled by BAME employees (currently 4.7%). We are creating progressive and sustainable plans to address this and stretch our ambition in all areas of diversity and inclusion.

Each part of the Society is working to address its own priorities, with tailored diversity and inclusion action plans. For example, the Finance & Efficiency community has begun cultural awareness workshops to prevent potential unconscious bias. Each area of the Society has also appointed a senior manager to report progress monthly to our new Strategic Diversity and Inclusion Action Group.

As we are planning on recruiting up to 1,000 people to support our technology investment, we have also created a distinct people proposition and assessment process to help attract quality candidates who share our values. This includes making sure we are attractive to candidates who are neuro-diverse, such as people on the autism spectrum, widening our potential talent pool.

Gender pay gap

We published our second gender pay gap report in November 2018, which showed our mean average gender pay gap as at 5 April 2018 was 28% (compared with 29% in 2017). This is very much a function of the nature of our business and our resulting employee profile. Our overall gender pay gap is therefore driven by having far fewer men in our junior roles which reflects our long-term success in offering a variety of work patterns which appeal to individuals at different stages of their career. We are committed to achieving a more balanced gender distribution and are putting new programmes in place to help improve opportunities for women at senior levels.

Putting our members and their money first

Rising to the challenge

Inspiring trust

Doing the right thing in the right way

Excelling at relationships

Nationwide logo
1 The comparative for Nationwide’s employee engagement score in 2018 has been restated based on updated information. The high-performing benchmark is based on data from more than 35 companies around the world across a range of industries. It covers more than 450,000 employees.
2 This is an annual survey undertaken by the Banking Standards Board covering 26 firms, including 9 systemically important institutions in the UK (of which Nationwide is one) plus a range of other mid-sized and small banks and building societies. It aims to raise standards across the sector. Over 3,000 colleagues at NBS participated in the last assessment.