Focused on our employees

Our employees are our key asset. Their skills, expertise and enthusiasm are central to achieving our strategic goals, and we continue to invest in their training, development and employee engagement activities to make OSB the best work-place it can be.

In 2017, the Group established a Talent Acquisition team in order to introduce an appropriate level of recruitment specialism within the HR function to better support business growth and implement a formalised, competency-based interview and selection process. Our recruitment procedures are fair and inclusive, with shortlisting, interviewing and selection always carried out without regard to gender reassignment, sexual orientation, marital or civil partnership status, colour, race, caste, nationality, ethnic or national origin, religion or belief, age, pregnancy or maternity leave or trade union membership.

No candidate with a disability is excluded unless it is clear that the candidate is unable to perform a duty that is intrinsic to the role, having taken into account reasonable adjustments. Reasonable adjustments to the recruitment process are made to ensure that no applicant is disadvantaged because of their disability and questions asked during the process are not in any way discriminatory or unnecessarily intrusive. To that end, the Group achieved Disability Confident Committed (Level One) status in 2017 (for more details, see below).

We welcomed 177 new employees in the UK and 173 new employees in India in 2017, and in line with the continued growth of the business, OSB has acquired a third office in Chatham to accommodate our expanding workforce.

Training and development

We encourage employees to carry out their work to the best of their ability and promote learning and development opportunities across the organisation. Our newly created and consolidated People Development function manages the allocation and completion of monthly mandatory e-learning modules, the delivery of in-house workshops, programmes and coaching in addition to coordinating employees attending external or in-sourced training activities. In 2017, 685 employees attended 149 separate internal and external workshops or learning events. The completion rate for our mandatory monthly online compliance training throughout the year was 100%; demonstrating the importance we continue to place on ensuring our employees are suitably aware of key requirements.

The Group is also committed to supporting employees undertaking professional development and in 2017, ten employees received financial support in pursuit of their professional qualifications.

In 2018, the Group intends to extend its commitment to widening accessibility of employment opportunities at the Bank by implementing an Apprenticeship Scheme.

Talent management and leadership programmes

Following a robust talent mapping exercise, we have identified employees who constitute our Primary Talent Group, based on their respective performance and potential. Throughout 2017, a range of associated talent management activities have been undertaken.

At the end of 2017, all members of the Primary Talent Group had been retained, 60% were undertaking different or expanded roles and 27% had been formally promoted.

We are constantly seeking to identify outstanding employees and in line with this, talent mapping will be undertaken as an annual process in order to support the progression of those who are identified as potential senior leaders of the future.

While we are still a relatively small business in terms of employee numbers, we advertise vacancies internally on a weekly basis in order to provide career development opportunities for existing employees. In 2017, we filled 36% (84 of 233) of vacancies with internal candidates.

OSB has a genuine desire to retain, support and develop its employee base. During 2017, 66 employees in the UK and ten employees in India were formally promoted to a more senior grade. Our regretted attrition rate for 2017 was 12% for UK employees and 18% for our employees in India.

Remuneration and benefits

We believe in rewarding our employees fairly and transparently, enabling them to share in the success of the business. Details of the Group’s remuneration policies can be found in the Remuneration Report on pages 81 to 95.

We offer our employees a comprehensive range of benefits, and continue to review these to ensure they are in line with market practice. Although the list is not exhaustive, our benefits include pension contributions, medical insurance, life cover, a childcare voucher scheme, interest free season ticket loan and a cycle purchase scheme. In 2017, we introduced a casual dress code throughout our offices following an employee vote.

We also encourage our employees to hold shares in the Bank for the long term, via an annual Sharesave Scheme. The scheme is open to all UK-based employees and allows them to save a fixed amount of between £5 and £500 per month over either three or five years in order to use these savings at the end of the qualifying period to buy the Company’s shares at a fixed price established when the scheme was announced. The Group first launched its annual Sharesave Scheme in June 2014 and over 250 employees are members the scheme.

In 2017, 100 employees saw their 2014 Sharesave Scheme mature, with the total value of their respective individual plans increasing by around 300%.

Employee engagement

In 2017, OSB participated in the 2018 Sunday Times Best Companies Employee Engagement survey, with 83% of UK employees completing the survey.

The survey results demonstrated an overall increase of 4.8% and the achievement of a 1 Star Accreditation Rating, signifying very good levels of workplace engagement and represented a significant improvement when compared to the previous two annual surveys when the Bank achieved a ‘One to Watch’ rating.

As part of the continuing commitment to employee engagement, OSB also participated for the first time in the Banking Standards Board survey, which aims to influence positive change throughout the banking sector. The survey provided an insight into employees’ perception of the application of their company’s values, potential barriers to challenge and to speak up along with their observations of unethical or inappropriate behaviour. The results from this survey will help to shape the Group’s agenda and commitment to a shared purpose and values for all employees in 2018.

OSB India (‘OSBI’) takes part in its own survey, run by the Great Place to Work Institute. In 2017, OSBI was officially certified as a ‘Great place to work’, with a strong performance in all indicators, including organisation trust, credibility of management, respect for people, fairness at the workplace, camaraderie and culture. OSBI’s overall Trust index score improved significantly in 2017 to 75, up from 66 in 2016, and it received the highest score in Pride, reflecting the strong brand and culture that has been created.

Throughout 2018, OSB will be using the results of all of the surveys to establish opportunities to deepen employee engagement on both Group-wide and department levels. We will also be engaging with external consultants in order to define our Vision, Mission and Values and establish a range of related actions that will enable us to fully embed these and proactively drive positive cultural change throughout the business. 

Employee recognition and awards

Through our Long Service Award programme, the significant tenure of 41 employees was recognised in 2017, each of whom reached a 5, 10, 15, 20 or 25 year milestone and one other employee who reached 30 years’ service.

Every quarter, all of our employees have an opportunity to nominate their colleagues as part of OSB’s Quarterly Employee Recognition Programme. In 2017, 306 separate nominations were received and each quarter, an Employee of the Quarter was selected along with two runners-up. Over the year, 12 employees received an award.

Our employees are valued for their expertise, not only by the Bank, but also by the wider industry. In 2017 Adrian Moloney, OSB’s Sales Director was recognised by The British Specialist Lending Awards in the category Complex Buy-to-Let Lender.

Health and safety

We have a duty of care to all of our employees, and a safe and healthy work environment is paramount to OneSavings Bank. We are committed to fostering and maintaining a working environment in which our employees can flourish, and our customers can safely transact with us.

We operate a Group Health and Safety Policy and we review our employee and customer environment regularly.

Activities in 2017

  • Undertaking mandatory Company-wide health and safety training with 100% completion.
  • Undertaking a full review and continuing to make improvements where necessary on recently acquired corporate real estate to ensure statutory health and safety compliance for all sites.
  • As part of achieving Level 1 of Disability Confident Scheme we have ensured that our office locations are accessible to disabled employees.

Diversity and inclusion

At OSB, we recognise the benefits that diversity of our people brings to the business and we actively promote and encourage a culture and environment which values and celebrates our differences.

Over 58% of our UK workforce is female, we have three female Directors (33% of the Board) and two female members of the Executive Committee (20%). In our office in India, women constitute 36% of the total workforce.

  Male Female
Number of Board of Directors 7 3
Number of Directors of subsidiaries 13 1
Number of senior managers (not directors) 58 17
All other employees1 318 517

1 includes OSBIndia


In early 2017, the Group became a signatory to the HM Treasury’s Women in Finance Charter. The Charter is a commitment of the Bank and HM Treasury to work together to promote better gender balance in the financial services industry. The pledge includes appointing a senior executive who is responsible for gender equality, setting internal targets, publishing progress against the targets and taking steps to link senior executives pay to delivery of these gender diversity goals. Accordingly, we have appointed Jason Elphick, Group General Counsel and Company Secretary, as the senior executive responsible for gender diversity throughout the Group and our Board approved a target of 30% of OSB’s senior management roles to be represented by women by 2020.

We already have 13% of our UK employees working under flexible working arrangements, with the majority of these employees working part-time hours and we will be seeking to further develop this by revising our Flexible Working Policy to provide increased support to those employees with parental and carer responsibilities.

Human rights

We want each member of our workforce and other stakeholders to be treated with dignity and respect. OSB endorses the UN Declaration of Human Rights and supports the UN Guiding Principles of Business and Human Rights. The Group adheres to the International Labour Organisation Fundamental Conventions. We seek to engage with stakeholders with fairness, dignity and respect. The Company does not tolerate child labour or forced labour. OSB respects freedom of association and the rights of employees to be represented by trade unions or works councils. The Group is a fair employer and does not discriminate on the basis of gender, religion, age, caste, disability or ethnicity. Our policy applies throughout the Group and is communicated to our employees during induction training.

In 2015, the Modern Slavery Act came into force and it encompasses slavery, human trafficking, forced labour and domestic servitude, and applies not only to OSB as a Group but also to our supply chain. The Group’s Modern Slavery Statement was published on 30 June 2017. Coupled with the statement, the completion rate for the mandatory monthly online training on modern slavery was 100% with more focused training due to be implemented in 2018. As part of the Bank’s continuing commitment to eliminating abuse and exploitation not just in our workplace but in that of our suppliers, the Bank has produced and is implementing a Vendor Code of Conduct by which all our suppliers will be expected to comply.


OSBI is a wholly-owned subsidiary of the Group. OSBI operates from an office in Bangalore and currently employs 366 people. OSBI supports the Bank across various functions such as Customer Service, Operations, IT and other support services. We actively promote integration between our colleagues in the UK and India with frequent employee exchanges, transfers, overseas training and management visits. The state-of-the-art Bangalore office has been extended in the year to accommodate the growing number of our Indian colleagues and a new business continuity site in Hyderabad was opened. We have also completed ISO 9001 and 27001 certifications in 2017, a testament to the Group’s commitment to information security at the highest level.

As part of the Group, OSBI falls under the same Group policies that are in force in the UK offices, most importantly, equal opportunities, non-discrimination and harassment, whistleblowing, information security and clear desk policies. There are only very slight differences in the Group’s main HR policies due to local legislation.

In compliance with the Modern Slavery Act, we do not support excessive overtime and our employees in India are encouraged to work in accordance with local legislation. Employees in our Bangalore office enjoy a range of benefits which includes 21 days of annual leave, 10 days’ sick leave and cafeteria services.

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Women in Finance Charter

Find out how we are working to ensure that there is a higher percentage of women in senior positions within OneSavings Bank