Rewarding You. The Santander Way

Transcription

1 Rewarding You The Santander Way 1

2 What s in it for me? At Santander, we re committed to being the best bank for our people, our customers, our shareholders and our communities. The experience, knowledge and skills you bring, help us to achieve our goal. As a Santander employee you ll enjoy a competitive salary and participate in a variable reward scheme. You will also have access to a wide range of employee benefits. Pay & Bonus Benefits Protection Recognition This booklet includes our standard benefits and does not include any legacy arrangements. More information on everything contained within is available on wearesantander.co.uk 2

3 Pay, bonus and allowances Your salary We reward you based on the type and level of role you do. This ensures we re treating people fairly and consistently across the UK business as well as remaining competitive in the external market. Pay ranges are reviewed annually with our recognised unions. Most salary ranges have a minimum, midpoint and maximum as a guide to how much you ll be paid. Your starting salary will be determined by the pay range for your role, your experience and competencies, relativities to other Santander colleagues performing similar roles, as well as external market conditions. S1 and S2 Flexible Benefits Allowance 500 per annum is paid in equal monthly instalments to eligible colleagues. It is not prorated for hours worked, so colleagues working part-time get the full amount. This allowance can be used to buy additional benefits, such as Private Medical Insurance, or taken as additional pay. Pay Progression We are committed to progressing our entry level colleagues salaries (S1-S2). If you are performing well in your role you will progress to the midpoint of your salary range within three years. Variable reward schemes Santander s success depends on every individual and we want to encourage you to do the best you can and share in that success. Santander operates a number of variable reward schemes. Allowances Depending on your role, you may be eligible for certain allowances and additional payments. 3

4 Leave entitlements Holiday We recognise the importance of a good work-life balance and provide generous holiday entitlements, encouraging you to take a two week block of leave each year. This entitlement is in addition to any Bank or Public Holidays. If you work part-time your holiday entitlement is pro-rated. These are the annual holiday entitlements for full-time colleagues Flexi Holiday S1 S2 S days 27 days 30 days We offer all colleagues the chance to buy or sell up to one week s (five days for a full time employee) holiday a year in a minimum of half hour slots the holiday year runs from 1 January to 31 December. Flexible Leave We are committed to supporting you in all aspects of your life, not just at work. Please visit We are Santander > Supporting you for all the information you need about the options that you can request; including extended leave and parental leave, and leave to support you with emergencies or for compassionate reasons. Absence Santander has both informal and formal processes to help balance your needs with the needs of the business in a fair and reasonable way. Different processes are followed depending upon whether you are absent for just a few days or longer term (classed as 28 days or more). These can include implementing temporarily reduced hours, adjustments to your workstation or making the most of our employee assistance programme. Santander also provides generous sick pay based upon your length of service. Please review the sickness absence policy on We are Santander for more information. Length of Service Entitlement in working days (pro rata for part time employees) Up to 3 months service 3 12 months service months service 2-5 years service 5 years service 5 days full pay 25 days full pay followed by 10 days half pay 30 days full pay followed by 20 days half pay 65 days full pay followed by 65 days half pay 130 days full pay followed by 130 days half pay 4

5 Recognition Star Me Up We want saying thank you to be an everyday part of working for Santander. With Star Me Up easy to thank someone for truly demonstrating our behaviours by sending them a Star. You can send up to 10 stars a month. Long Service Awards We recognise the commitment that our people show when they have worked for us for a significant period of time. To show our appreciation for this loyalty and dedication, we mark the occasion by presenting awards at certain milestones, set below. 5 yrs 10yrs 20yrs 25yrs 30yrs 40yrs Card ,000 5

6 Pension We offer you a tax-efficient way of saving for your life after work, with generous employer contributions for most employees, plus substantial life cover if you should die whilst in the bank s service. Your contributions Santander s contribution based on service as % of salary Year 1 Year 2 Year 3 Year 4 Year 5+ 3% 5% 6% 6.5% 7% 7.5% 4% 6% 7% 7.5% 8% 8.5% 5% 7% 8% 8.5% 9% 9.5% 6% 8% 9% 9.5% 10% 10.5% 7% 9% 10% 10.5% 11% 11.5% 8%+ 10% 11% 11.5% 12% 12.5% If you make no election You pay no income tax or National Insurance on what you (or Santander) contribute. Take a contribution holiday of up to 6 months. You can also pay in a lump sum, such as from bonus, Sharesave, or inheritance. Over 85% of colleagues use it to save for life after work. Change your contributions whenever you want If you are medically unfit to work If illness or injury prevents you doing your normal role, our Group Income Protection benefit pays out half your salary for up to 2 years after Company Sick pay ends. Our insurer s rehabilitation team can work with you to help your recovery and in some cases fund your treatment. If you die If you die, a lump sum may be payable - plus the value of your account. Depending on the severity of your condition, a lump sum may be payable if you remain unable to return to work. Up to 20% of salary for each year (max 30 years) to State Pension Age. Complete your Expression of Wish on This is a high level summary, which is for information purposes only and contains no advice. Group income protection is subject to our insurers terms. 6

7 Making Your Money Simpler Nudge Nudge is a personalised and interactive tool which provides you with free, independent personalised financial education on a wide range of topics, from childcare to eldercare, borrowing or saving, and housing to holidays. The world of personal finance is complicated and we want to help make your money simpler. We want to be the Best Bank for our People, and so we are delighted to be able to offer a service that could help you make better decisions with money, and supports your ambitions, be it moving home, having a child, or saving a nest egg. 7

8 Health and protection Private Medical Insurance (PMI) Gives you reassurance that you and your family will receive eligible medical treatment privately, without waiting for the NHS to treat you. (S3 & S4 are provided single cover as part of their reward package and S5+ are provided family cover.) Health Assessments Discounted health assessments available to all Santander staff provided by Bupa. Health assessments are provided outside of this scheme to S5+ employees as part of the company s risk management process. Life Assurance In addition to the Life Assurance provided to Santander employees (2x or 10x your salary if you are part of the LifeSight pension) you can also choose to receive additional cover for yourself and your partner. Critical Illness Insurance This cover pays a cash lump sum if you are diagnosed with one of the eligible conditions, which can be used in whatever way is best for you. For example, help with your mortgage or help to make adjustments to your home or lifestyle. You can select units of 25,000 up to 5x your salary or 250,000, whichever is the lower. Dental Insurance With this cover you can spread the cost of dental treatment and choose any dentist whether NHS, private or Denplan. This benefit is the ideal way to cover yourself and your family for help towards eligible routine (check-ups, x-rays and hygiene visits) and restorative (crowns, bridges or fillings) dental treatment. There are three levels of cover for Self, Self & Partner; Self & Children, Self & Family. Healthcare Cash Plan Money back towards essential healthcare costs such as optical, dental, therapy treatments, consultations and more. 8

9 Health and wellbeing Eye care You can claim up to 20 towards the cost of an eye test and 50 towards the cost of spectacles or contact lenses, where these are required for general use, incorporating a special prescription for VDU use, or where spectacles are required solely for VDU use. Helpful flexible working arrangements Sometimes our busy social and domestic lives can be demanding and leave us feeling drained. Sometimes work can be hectic, creating the feeling that we re under pressure. If you re torn or over-stretched between your work and other commitments, you probably won t feel at your best and, when you don t feel at your best you probably can t deliver your best, to anyone. This is why, at Santander, we want to demonstrate the same level of support and commitment to our people that they show to us. We do this by providing a number of flexible working arrangements that can help people to balance their work and home life better. Gyms We have negotiated corporate discount with Gympass, the UK s leading gym network with over 1000 gyms included in one monthly price. Employee Assistance Programme Santander s Employee Assistance Program (EAP) is an independent telephone helpline that s available to you and your family. You can get expert support, guidance and advice to help you resolve a wide range of issues. Available 24/7 call

10 Discounts & Concierge Employee discount & concierge site Take advantage of the fantastic offers available to you through our employee discounts site, where you can make savings on your everyday purchases. Get discounts on your supermarket shopping or treat yourself or someone special with exclusive discounts at some great retailers including: Amazon B&Q Cineworld, Odeon and VUE Debenhams Hight street supermarkets such as Sainsburys, Asda and Tesco M&S Primark Concierge service Short on time? We can help with everything from booking a restaurant table to buying flowers call tel: You Choose discount card Whether you re buying groceries, clothes, electrical goods, music, gifts, or going out for dinner, you could save money by using your You choose discount card. Your savings are automatically added back onto your card the following month (similar to the 1I2I3 Credit Card, but this is a pre paid top up card). The card is accepted at over 70 popular high street retailers and is only 1 per top up (discounted for Santander employees). Apple products Get a new Apple ipad, laptop or desktop computer by paying a fixed amount directly from your salary over 12 or 24 months. You own the equipment from day one and it s acquired from Santander over the agreement period, after which you retain and can continue to use the equipment with no additional charge. Apple products can be ordered at anytime, as long as you re not already within an agreement period for this benefit. O2 Open discounts As an employee of Santander you can get discounts off your Airtime on any O2 Refresh tariff. Call

11 Days out Ascot Racecourse Exclusive ticket rates and 10% off fine dining National Trust Earn up to 3% cashback when you buy a membership online. Up to 55% off at Merlin attractions Planning a trip to Alton Towers or Thorpe Park? As a Santander colleague you can save up to 55% off tickets to Merlin attractions. Discounted Cinema As a Santander employee, you can enjoy discounted cinema tickets. Experience days 20% off Virgin experience days or 20% off Buyagift.com ATG Tickets Earn up to 5% cashback when you book online 11

12 Travel Holidays Take advantage of our in house travel agent and discounted travel Whether it s a family trip to Florida or a weekend break for two, you can save money as a Santander colleague. With savings at Kuoni luxury holidays Expedia hotel bookings Lastminute.com Virgin Holidays & Virgin Atlantic Haven Holidays Thomas Cook Bikes Bike for work Keep fit on your journey to work and save money! Save up to 32%, 42%, or 47% (dependent on your individual tax rate) on a new bike. Savings on tax and National Insurance for the amount of the reduction to your pay. More information about our bike for work scheme can be found here on We are Santander > Rewarding You > You choose...your benefits > Bike4Work Cars: Salary sacrifice cars The Santander UK All Employee Car Scheme uses the corporate buying power we have to provide you with preferential deals, which are then funded through a fixed reduction to your gross salary (also known as Salary Sacrifice) saving you additional money on income tax and National Insurance. Car discounts We have negotiated some great savings ( off) on purchases Essential Business User Car Scheme Anyone completing more than 8,000 business miles a year is eligible for a job needs car through the Santander Essential Business User Car Scheme. This is on a voluntary basis for colleagues in Santander Bands S3, S4 and S5 but is compulsory for those in Bands S1 and S2. Season ticket loan Save money on your train travel and car parking costs, when you purchase a season ticket using an interest-free loan. Repayments are made through an automatic salary deduction each month. When you pay for travel upfront, the benefits of these savings seem lost when you have to make a large advance payment, so we ll help alleviate the burden and help you spread the cost. Parking discounts Save money or earn cash-back when booking through our discount site. 12

13 Shares Sharesave Save from 5 to a maximum of 500 a month over 3 or 5 years. You will then have an opportunity to buy shares in Banco Santander discounted or simply take your savings out to spend as you wish. Sharesave election period is only open once a year typically in September. Partnership shares This is a great opportunity to invest in shares using your pre-tax salary and be a part of the future success of Santander by buying shares in the Group through Partnership Shares. Your Share Statement Your personal share statement which is avaliable on wearesantander.co.uk brings together information on all the share schemes you have into one easy to understand statement. It shows the current value of your investment, calculated using the latest share price for Banco Santander S.A. shares from the London Stock Exchange. The value of your shares can go up or down depending on how the share price moves. 13

14 Ways to give back Change for Charity You can choose to have the pennies from your monthly salary donated to the Santander charity of the year. So the most you ll pay is 99p a month. If everyone used change for charity we could make a huge difference for our charity of the year. Give As You Earn (GAYE) Give to charity and save tax at the same time. Donating through GAYE enables you to give a tax-free monthly amount to the charities of your choice. Community Days If supporting people is important to you, then participating in our Community Days would be a great way to use your skills and knowledge to benefit your community. Santander UK plc. Registered Office: 2 Triton Square, Regent s Place, London, NW1 3AN, United Kingdom Registered Number Registered in England and Wales. Telephone Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is Santander and the flame logo are registered trademarks. PT3184 JUL 18 H