Company Culture
At Broadridge we believe in “celebrating as a team, and thanking at an individual level.”
Celebrating is important, as recognizes successes aligned with our values, and encourages repetition of behaviors that lead to sucess, It also encourages engagement among our associates, which has direct impact on client satisfaction. Company celebrations that keep our associates engaged include:
- World Class Service Day - associates are provided with a free lunch or dinner served by senior level management. If goals have been reached, the associates are also given a monetary reward.
- Annual picnics and barbecues for associates and their families.
- Annual holiday party.
Competitive and Fair Salaries
Our Vision Statement says Broadridge has a "passion to deliver extraordinary value" to not just our clients and shareholders, but also to our Associates. We aim to accomplish this by providing a mix of rewards that attract and retain the best possible Associates, and motivate them to achieve superior individual, team, and Company-wide performance.
Merit Increases That Reflect Our Culture
The Merit Budget provides guidelines to management for determining appropriate compensation increases for associates. Payment of merit increases is based on the assessment of each associate’s behavior. We look not only at whether or not an associate achieved set goals, but whether the associate’s behavior fully reflects our values and our efforts to create a high engagement culture. Starting in 2010, merit increases will also recognize progress with individual development goals.
Bonuses Defined by Shared Goals
We provide two bonus plans—the MBO Bonus Plan and the World Class Service Bonus Plan. Associates are very involved in writing their objectives and defining their goals.
World Class Service Bonus
Associates not eligible for the MBO Bonus Plan participate in our unique World Class Service Bonus. This program is ten years old and guarantees that all our associates know they can earn a bonus, no matter their position. This dissolves the barrier between “bonus eligible” and “non-bonus eligible” employees that exists at some companies. Our associates feel invested in our company’s success and know they are contributing to it directly.
Equity as Compensation
We are optimistic about the future because we have committed associates. Many of our associates are even more closely linked to our company’s future success because they are also shareholders. Broadridge equity, in the form of restricted stock units, is a component of total compensation for about one-third of our associates. Additionally, all our corporate officers are subject to share ownership guidelines designed to increase their share ownership to further align their interests with those of our shareholders.
Retirement Plan
We sponsor a very generous defined contribution retirement plan with matches above benchmark. We offer both non elective contributions and matching contributions. Our 401(K) is our strongest plan and is very popular because it offers such rich benefits.
