One of Britain’s Top Employer 2013, Tesco, works beyond Davies report targets

The British multinational grocery and general merchandise retailer Tesco has been recognised as one of Britain’s Top Employers 2013 by the Corporate Research Foundation (CRF) Institute.
As a result of a recent research project, Tesco was named a British Top Employer among 68 other companies, all rated on opportunities for career development, training and development, cultural management and benefits offered. The participating companies have at least 250 employees or, for multinational companies, at least 2,500 employees worldwide. Tesco was also highlighted for its employee benefits and strong company culture. In 2012, Tesco has spend GBP 1 billion for a turnaround programme embracing six categories. The item ‘Service and staff’ included the recruitment of more than 8,000 new employees. This programme included the Regeneration Partnership scheme, which focused on helping long-term unemployed to get back into work. About 800 long-term unemployed were hired by Tesco, making up a strong 10% of the total recruitment volume. Another scheme Tesco offered is the defined benefit pension scheme for which the company won the top award for Pension Scheme of the Year at last year’s ‘Professional Pensions’ awards. According to the judges, the Tesco Pension Scheme had the highest level of innovation.
In addition to these remarkable initiatives, Tesco is also planning to further improve its gender diversity. According to its annual report, Tesco aims to work towards the aspirations of the Davies report to increase the number of women in senior positions on various levels. The Davies report aims to redress the gender imbalance on UK boards through voluntary actions and the announcement of an ambition of at least 25% women on the board by 2015. Tesco has already reached that mark by now, having four women on their PLC Board (29%).
Through a specific women-in-leadership programme, Tesco encourages talented women in the UK to assume senior roles. The number of female directors increased by 45 within four years, which is an increase of nearly 76%. The percentage of women in senior management across the Group as a whole now is 31%.