Corporate and Social Responsibility Statement
Relations with Stakeholders
Customers
Abcam is committed to providing high quality products backed up by honest and accurate information and support. All the information on our products is publicly available via our website and we provide full technical support in the use and application of our products from scientists who are experienced in the techniques and who are kept up to date with the latest development in the background science. We strive to develop individual relationships with our customers in the support of their research.
Employees
Abcam's employment policies are designed to provide equal opportunities and a safe and motivational working environment. We have an established appraisal and performance feedback process for the development of all staff. We reward staff both by use of shorter-term profit sharing incentives as well as having a fully participative share option scheme so that all staff can benefit from the longer term success of the company. We benchmark our benefits package against our peers and are introducing a flexible benefits scheme whereby staff can choose from a cafeteria-style benefits package to suit their individual needs.
Suppliers
Abcam works with over two hundred suppliers ranging from individual academics to large multi-national organisations. We have regular electronic contact with all our suppliers and aim to meet our main suppliers face-to-face annually both to improve our ability to support their products as well as discuss how best we can work with them to maximise sales of their products.
It is the Group's policy that payments to suppliers are made in accordance with the terms and conditions agreed with them, provided that the supplier has provided the goods or services in accordance with the agreed terms and conditions.
Shareholders
The board recognises the importance of providing timely and regular information to its shareholders. We have set up a corporate website to hold information particularly relevant to current or prospective shareholders from which copies of past reports and accounts as well as an overview of our company strategy and vision can be obtained.
The CEO and Finance Director, working in consultation with our corporate and PR advisors, make themselves available on a regular basis and expect to meet with larger shareholders at least twice a year. Shareholders are welcome to visit our offices in Cambridge.
Health & Safety and Environment
Abcam seeks to provide and maintain safe and healthy working conditions, equipment and systems for all our employees as far as is reasonably practicable and to provide such information, training and supervision as may be needed for this purpose.
The Group complies with legislation, however where best practice demands higher standards, it endeavours to apply these wherever reasonably practicable.
Health & Safety in the company is ultimately the responsibility of the CEO and is run by a Health & Safety Co-ordinator as chair of the H&S committee; this committee uses appropriate advice from external H&S specialist consultants.
Abcam seeks wherever possible to minimise its impact on the environment for the benefit of its staff and the public at large. We are committed to complying with environmental regulations and encourage and support staff in waste re-cycling within our offices.
Community Support and Charitable Donations
Abcam participates actively in the community of entrepreneurial businesses clustered around Cambridge. Abcam supports the Cambridge Network, the University of Cambridge and the Judge Business School by giving talks and presentations on our business as well as hosting projects for MBA students. Abcam takes students from secondary education on work-experience programmes as well as occasional international exchange students on placement.
The Company encourages employees to get involved in local charitable activities; we allocate 0.1% of pre-tax profit for charitable donations which are split between the US and UK offices. These are allocated by a committee of staff volunteers working within guidelines set down by the Directors.
We make no political donations.
Corporate, social and ethical policies
Abcam recognises the importance of balancing the interests of all our key stakeholders – our customers, shareholders, employees, suppliers and communities in which we operate. Management of the environmental and social issues that play a part in our business is a key factor in our strategy for success and in the practice of good corporate governance.
The Group places considerable value on the involvement of its employees and has continued to keep them informed of the various factors affecting the performance of the Group. This is achieved through formal and informal meetings. Equity based incentives are made available to all employees in the Group. In addition, there is a profit sharing scheme based on the overall profitability of the Group.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. It is the policy of the Group that the training, career development and promotion of disabled employees should, as far as possible, be identical to that of other employees. The Group needs highly-qualified staff and does not see age, colour, disability, ethnic origin, gender, political or other opinion as a barrier to employment.
The Group aspires to carry out its business to the highest of ethical standards treating employees, suppliers and customers in a professional, courteous and honest manner. The Group has an ethical policy which is reviewed by the Board and which we apply to our products. This includes reviewing and, where appropriate, visiting our suppliers to check the standards they follow in their products and services.