corporate social responsibility statement
As a Research and Development business developing novel products in new therapeutic areas, Renovo employs a highly skilled and qualified workforce.
Employees
Renovo places considerable value on the involvement of its employees. It is committed to developing policies that encourage all employees to achieve their greatest potential and to contribute to the success of the Company. Renovo operates an approved share option scheme to ensure that eligible employees are able to share in the future success of the Company and have a sense of ownership. Renovo’s human resources strategy is focused on providing a positive organisational culture and is guided by its core competencies.
Organisational planning
Renovo regularly reviews its organisation structure and reporting relationships in order to maximise their effectiveness. Renovo continues to employ junior and more experienced senior staff, recruited predominantly from Pharmaceutical and Biotechnology sectors, to support its pipeline programmes.
Recruitment and retention
Renovo has a defined policy for the recruitment of any new or replacement staff, the employment of which must be agreed and signed off by the Chief Financial Officer and Chief Executive Officer.
Renovo is committed to achieving equal opportunities in employment and to ensuring that performance is assessed on an individual’s capabilities and demonstrated results. Full and fair consideration is given to applications for employment made by all persons having regard to their particular aptitude and abilities. We seek where practicable to identify a diverse pool of applicants.
Renovo’s maternity and paternity leave policies meet statutory standards. Flexible approaches to returning to work after maternity leave including part-time working and working from home are adopted where viable. Renovo also offers to all staff the benefits of childcare vouchers. This is a salary sacrifice scheme with vouchers currently being exempt from tax and national insurance.
Renovo only reports data on the distribution of its workforce by gender. As at 30 September 2009 this split was 57% female and 43% male.
Training and development
Renovo considers continuous learning to be one of its core Company values and training is a key constituent of the employee appraisal system. Through the ongoing development and training of our employees we look to ensure that our workforce is ready to address the challenges ahead. We assess talent regularly across the business in order to better understand our organisational strengths and knowledge gaps.
Renovo has a clear people strategy. We look to ensure that managers have the skills to foster a culture of creativity, openness and rigour focused around good practice standards and quality.
Reward and recognition
Through a variety of reward and recognition mechanisms, Renovo has developed a performance-driven culture that seeks to attract, retain and motivate its employees. We use a combination of approaches to reward good performance, which include an annual bonus, share option scheme and individual recognition.
Employee performance is assessed twice a year and is measured against individual and team objectives, which are set with reference to Renovo’s core competencies and objectives.
Communication
The Company recognises the value of communication in motivating employees and managing the business. Renovo looks to encourage the exchange of views and information between employees and the Company. The intranet and email are used both to communicate Company matters to employees and to elicit questions, feedback and requests. We maintain a policy of accessibility of senior management to all employees.
A Staff Association has been formed to discuss and consult on a wide range of employee matters. Members of the Association are elected by their colleagues and represent all areas of the business.
We also engage our employees through regular updates and timely communication of Company news, periodic employee meetings and educational sessions on various aspects of our science, technology and business.
Health and safety
The health and safety of employees and those who work with us remains a top priority for Renovo. A key objective for the health and safety function is the continuation and development of health and safety procedures and systems which, this year, saw the implementation of policies on Driving for Work and Internal Audit. The Company has maintained an excellent safety record that can be attributed to a proactive approach to accident prevention encouraging people to report safety issues openly and to work beyond legal minimum requirements. Renovo’s senior Health and Safety Officer has direct access to the CEO, who is the Board member charged with leading on health and safety matters. The CEO reports on health and safety matters at every Board meeting as a standing agenda item. Renovo’s Senior Health and Safety Officer produces an annual Renovo Health and Safety Review Report and attends a Board meeting to present the report, answer questions, raise concerns and discuss any health and safety issues with the Board.
Environment
Renovo continues to explore ways to minimise its impact on the environment. A large amount of our energy usage is attributed to the management of the air-handling, heating and lighting of our laboratories and offices. Through the careful monitoring of energy consumption we have been able to highlight areas of improvement so that valuable resources can be conserved. Movement activated sensors have been installed to conserve lighting. Infrastructure changes have also allowed us to explore ways of segregating various waste streams providing more opportunities for recycling. Paper, toner cartridges, IT equipment and laboratory equipment are recycled. Video and telephone conferencing facilities have been introduced to reduce travel to external meetings. In order to relieve pressure on corporate parking, traffic congestion and to encourage a healthier workforce, Renovo has taken advantage of the Green Transport Plan introduced by Government which aims to make cycling more attractive and accessible by introducing a “Ride to Work” scheme which all employees are eligible to participate in.
The CEO leads on the Environment for the Board and there is an annual Board review of environmental issues.
Community
During the year, Dr Sharon O’Kane served on the Greater Manchester Business Leadership Council, The National BIGT Review of Bioscience, The UK Government Office of Life Sciences Advisory Group and The Northwest Science Council Biohealth subgroup. Prof Mark Ferguson served on the Government’s UK Life Science Marketing Strategy Board (UKTI), the BIS task force on China, the advisory committee of the Healing Foundation and on the Office of Life Sciences advisory group. In September 2009, Prof Ferguson became President of the Manchester Medical Society and organised its 175th anniversary celebratory Nobel symposium.
Political and charitable donations
Renovo’s policy is that it does not donate money, services or facilities to political parties. However, Renovo may campaign for, or against, proposed changes in legislation or regulations that might affect its business or the environment within which it operates. Officers or employees, with Renovo’s approval, participate in Government advisory committees, regulatory (MHRA) advisory committees or non-Government organisations that are relevant to the business. No political donations were made during the current or prior financial years.
Renovo operates a “Give As You Earn” scheme which is accessible to all employees and allows them to donate to charities of their choice directly from their salary. The Company also encourages employee involvement in charitable causes either as individuals or in groups. This year staff have supported Cancer Research UK through taking part in the “5k Race for Life” and the sale of books and CDs; abseiling to raise money for the Christie Cancer Hospital in Manchester and taking part in a 10k run for the Alzheimer’s Society. Staff organised a coffee and cake event which raised almost £300 for Macmillan Cancer Support.
No charitable donations were made by Renovo during the current or prior financial years.