SSE scoops prestigious award for building trust
SSE’s transparency in corporate reporting has been recognised with a prestigious award from leading professional services firm PwC.
It received the People Management accolade in PwC’s Building Public Trust in Corporate Reporting Awards for the quality and breadth of its people and human capital reporting.
The judges said SSE was a clear winner with “depth, scope and sheer vibrancy” and “a credible, candid and comprehensive set of people disclosures explicitly linked to its strategy and performance.”
In a first for a UK FTSE100 company SSE published a ground-breaking Valuable People report in April 2015 which measured the economic value of the skills and capabilities of the people it employs.
It found the total economic value of SSE’s human capital is estimated at £3.4bn, an average of £173,000 per employee and for every £1 it invests in apprentices there is an economic return of £4.29 and for technical trainees it is £7.65.
SSE is just one of a handful of companies globally to produce this type of detailed reporting to help it make sustainable employment decisions including in investment and training It also published analysis of its gender pay gap two years earlier than the Government deadline and is taking steps to improve diversity with a series of actions to increase the number of women working in energy at all levels.
The PwC judges said SSE’s reporting succeeded in combining easy accessibility and navigability with a wealth of unusually detailed people-related data and metrics, including a distinctive range of social performance measures.
They also felt its work to improve gender diversity in the energy industry came through clearly as being key to the organisation with on judge commenting: “This was very convincing reporting: this feels like a company that means what it says, and has integrated people into its strategy at a fundamental level.”
John Stewart, SSE HR Director, said: “We’re delighted to be recognised by PwC for our work to evidence the impact our 21,000 employees make and the transparency and calibre of our reporting.
“As a responsible business being transparent is a core value and we’ve made great strides in developing our reporting and evaluation to help make better informed decisions across the business; in recruitment, training and development, supporting young people in to work and improving diversity.
“Our people are our greatest asset, we value them and by demonstrating the impact they make on the company and society we can ensure our investment continues to deliver for our employees and the business.”
The BPTA judging panel included leading figures from business and charities including; Charles Tilley OBE, Executive Chairman, CGMA Research Foundation, Mark Wood, NSPCC, and Melanie McLaren and Paul George of the Financial Reporting Council.