7y
Response from Chris Edmonds-Water, CHRO
Thanks for taking the time to share your feedback on SVB, both positive and constructive. I thought it both helpful and important to respond to a few comments made in your review.
We are indeed a company that leads with our values, and I believe that translates into SVB being a great place to work. We take care to benchmark salaries at the market median. Due to outperformance by employees and the company, we have funded our bonus pool at a multiple in recent years, resulting in pay closer to the third quartile for most employees. No doubt SVBers work hard, but our market data shows they are paid competitively.
In terms of our inclusion and diversity efforts, it is indeed a continuous process. Based on traditional metrics of diversity (gender, ethnicity, LGBTQ) we have made progress. But as you noted, diversity is more than being uniquely about one’s background; rather it’s also about having a different world view that helps make for even better business outcomes, and feeling included in such a way that you’re comfortable sharing your point of view.
Two final comments: we’re currently redesigning our New Hire Orientation and on-boarding experience such that we establish a realistic timeframe for new hires to get up to speed, learn about SVB’s products, services and culture, and deepen the new employee experience. Additionally, we’ve recently launched a cohesive career development experience called SVB Blueprint that we’re excited to roll out to more SVBers this year. We believe new employee onboarding and career development are key to our culture and success, and as such we’re dedicating significant financial resources to this efforts.
Again, thank you for taking the time to share your thoughts and concerns. I hope I was able to address some of your concerns.
Best,
-Chris
