Employees

Our business depends upon the creativity, drive and goodwill of our employees. The Company has a strong demand for highly qualified staff. We aim to attract and retain the best people available through both a competitive remuneration policy as well as offering a rewarding environment within which to work. We strive for equal opportunity and a non-discriminatory work environment for our employees. Disability is not an inhibitor to employment or career development within the Group.

Benefits

General company benefits

The Company offers attractive, modern and comfortable work facilities. We endeavour to provide a supportive benefits package that focuses particularly on the health and welfare of employees and family protection in the event of loss of earnings. Employee benefits include healthcare and medical cover, life insurance and an income protection scheme covering long-term illness. The Company runs a defined contribution, contributory pension scheme.

All employees are eligible for 'flexible working', which allows them to adopt a work pattern that affords reasonable flexibility and balance around home life and family commitments. However, this is subject to the varying demands of the business. The Company offers 25 days per annum vacation in addition to statutory holidays.

Torotrak aims to be family-friendly and participates a recognised child care voucher scheme whereby employees can opt to exchange part of their salary for childcare vouchers. These vouchers are non-taxable and exempt from National Insurance contributions and therefore represent a saving for employees who receive them as part of their total employment package. Childcare vouchers are exchanged for the childcare services arranged through and paid for by employees.

Torotrak participates in the ‘Cycle to Work’ initiative, which effectively subsidises the cost of purchasing a bicycle. This scheme was set up by the UK Government to encourage people to use bicycles as a means of transport to and from their place of work.

Performance-related benefits

Employees take part in regular performance reviews, and a performance-related annual bonus scheme is in place to support the Company’s strategic objectives. Longer term incentives may also be provided through the issue of share options or other forms of long term incentives that may from time to time be approved by our shareholders.

Share option saving scheme

A HMRC-approved savings-related share option (Share Save) scheme is open to all employees who enter into an approved savings contract for three years. Options are granted when the savings contract is commenced to acquire the number of shares that the total savings will buy when the savings contract expires.

Company communications and feedback

Open channels of communication are encouraged and we seek to consult with all levels of employee, valuing their ideas and suggestions. Regular team briefing sessions are held as well as meetings with the Chief Executive to discuss key issues and feedback from employees.