Finance company takes initiative on staff consultation

Financial services company Capital One has formed a new ‘associate partnership’ to look after the interests of both the business and the workforce.

Using a framework agreed by the CBI and TUC, Capital One’s employees have elected a 25-strong committee that will filter their views on key business changes through to the management board.

The firm’s 2,000 UK employees are now able to have their say on key decisions affecting the business across all levels and departments, ahead of the information and consultation regulations which come into force next week.

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Topics likely to be discussed include terms and conditions of employment, working time and practices, training and development and organisational change.

Ken Stannard, chairman of the partnership, said: “There are real business benefits to this, not least more informed decision-making and the chance to assess initial response from our associates.”