Talent, recruitment and retention

One of the highest people priorities for our leaders is recruitment, retention and development of talented people. Top performers are attracted to join Lloyds TSB because of our reputation, strong brand and values; together with top class reward and development. Last year, we successfully recruited over 9,500 people from the external market.

It’s not just about bringing in new people. Developing existing employees and succession planning are equally important to support our growth strategy. We have strong succession and development plans for all our senior leaders across the Group and we are retaining people for an average tenure across our business of 13 years.

Alongside this we run a wide range of generalist and specialist development programmes to support career progression into management. In 2007 we recruited 106 people into our business specialist programmes (A level entry), 88 people to graduate trainee programmes, offered 32 internships and 111 student placements. We are consistently identified in The Times Top 100 organisations for graduate recruitment. We also ran numerous programmes at more senior levels in management and leadership to develop our pipeline of leaders for the future.

We actively track and manage retention of our highest performers, retaining approximately 96 per cent of our top performers in 2007. In addition we have robust systems for differentiating performance and the management of under performance.