Questions for Broadridge executive meeting PDF

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Broad ridge Executive Questions and Notes from September...

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Questions for Broadridge executive meeting 9/21 COST ● What’s the budget for recruitment? ○ $3700 cost per hire ■ Lower than the benchmark standard ■ However, could still maybe be lower because a lot of employees (maybe 60% are low level employees doing about 2 years of work and then leave) ○ Currently cutting headcount ● Describe the breakdown of the recruitment budget spending. ● What do you spend on advertising? Where do you advertise? Is the engagement rate from advertising initiatives worth spending on? ● Do you seek in-house talent before spending on external recruitment? HIRING PROCESS ● What processes do you use to recruit? ○ Career fair - called for interview - on site - month later (he works for the client side) ○ Brendan went through 4 interviews for 2 positions (he works for the corporate side) ■ Also was in the management training program (Described in the ppt) ○ Hiring process can be subjective ○ Guggenheim, other orgs use more AI than Broadridge ○ Why does it take a month or two to get back on the process? Software? ● How often do you do recruitment events? (Also kind of a cost question) ● Describe the actual hiring process a potential employee goes through. ○ For higher level employees - head hunters ● How long is the training process for each employee? ● Where does training occur? ● Does the hiring process change across different sects of the company? ● Do you perform background checks? ● How long does the hiring process take as a whole? ● How do you let applicants know that they received or did not receive the position? EMPLOYEE CULTURE ● How many new employees do you take on per year? ● Are more employees being taken on globally or domestically? ● Do you have internal referral programs? ○ Yes, internal employee website. We can see what jobs are available before theyre posted to the general public. ■ Can put specific names and contact # of other employees you know too ■ Cash incentives ● What types of benefits do you offer to employees? (Also kind of a cost question) ○ Employees receive same health benefits all around

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How many interns turnover to full time employees? Part-time employees? ○ Maybe 10%? ○ Not really a problem with this. We retain a lot of talent. When and how are people able to give feedback? What are some of the ways the company celebrates successes? Promotional opportunities? ○ Satisfied with growth opportunities. ○ Need to be vocal with managers for opportunities to be there. ○ Management is invested in placing associates at junior levels at the best place for them and keeping employees with the company (even if it means moving departments) before having them just leave Retention rate isnt an issue from a standard of company morale and culture. ○ However, this can still be an arguable platform to stand on if theres an app or something thats being used by another financial operation company and working well

ARTIFICIAL INTELLIGENCE ● Do you recruit through 3rd party platforms? ● How are you incorporating the data from 3rd party platforms into the hiring process? ● Do you use WebEx type seminars? ● Do you use Hirevue? Or similar? ○ Yes, first level ○ Some type of technology to screen resumes is used ○ Very involved at career fairs ■ Very interested in candidates w leadership skills ● General Questions We sent through email

-What does Broadridge's recruitment process look like? From application to interviewing to hiring? -What is the current turnover between Interns and Full Time? -What is the firms employee retention rate? -Is there a breakdown of the cost of recruitment per year? -What is your recruitment budget per year? -What forms of artificial intelligence (if any) are already implemented in your recruiting process? -What is the average cost of each hire (if this number exists)?

-How many new employees per year are being brought on? Where are they coming from? (Experienced Hires vs Interns or Entry Level) -How do you advertise a new job posting? -How many schools does the firm recruit from? Do you also look at online applications from non-target schools? -Would you consider interviews for the firm to be more behavioral based, technical based or firm specific research based? -Who is conducting background checks for new hires? Is this outsourced, what are the costs associated with that?

What are some of Broadridge’s long-term goals? ● Long term growth = spoken about in terms of growth targets ○ Three trends being focused on: ■ Mutualization ■ Digitization ■ Big Data** Does Broadridge prefer to acquire public or private companies? ● Broadridge is indifferent on acquire public or private companies, but has tended to acquire private start-up companies in the past What are some of the challenging areas Broadridge sees in terms of the products it currently has? ● Our tax product (centered around corporate-tax recording -- part of the mutualization trend) ○ Has been trying to be built internally for years ○ Still has not taken off the way that managers on this project would like ● BCIS -- transfer agent business acquired a few years ago ○ manages the registered side of the shareholder base ○ When Broadridge entered this field they knew that it was already very competitive but they hoped to capture market share w lower price initiatives but it has had too large of an effect on profitability

Are there any services/products that you’ve dropped? ● Clearing firm called Ridge ○ Took on the clearing settlement risk when trades were processed. ○ Negatively affected cash flow ● Transfer agency business -- dying breed**** ○ What if it was more interactive? Got people engaged. Be more digital. Impact -- updating things and making it more modern. Making it more UI friendly. Impact=the backend software for fixed income trading (coming in Jan) ****LOOK INTO AR TECHNOLOGY -for the proxy situation? -takes a lot of time to check the proxies by hand and read through them and its very expensive to resort the human capital -IDEA: hotel environment -sales people based at 1 Park Ave office and oftentimes arent even there -strategy people work in long island -changing cubicle sizes has increased the amount of people that can be in NYC office -$60/month - current transit programs (preloaded debit card) -there are definitely work from home opportunities. *create a rotational office program *create an app to reserve a desk spot *create a carpool system (since it seems like a lot of employees dont know each other maybe we could facilitate this for them) Tuition reimbursement programs are still an area to consider *create a doc for our schedules *main idea: millennials + 3 small ideas - Tuition reimbursement - Hoteling - X How does increasing engagement rates increase revenues? Cant raise prices of proxies but worthwhile to investigate how increased engagement could be worth raising prices on other products? Or expanding client bases? Where you are meaningfully saving pennies would be moving someone from print to digital. - Create a program of some sorts to incentive them to move digital? -plenty of disaster type programs in place so server’s going down isnt really an issue for them

-only review formally mid-year and annually -- reviews are conducted in house but WorkDay is the service used for this

FOR OCTOBER 5 executive summary powerpoint 5-7 slides Give a case of current problem & present the future solution Send slides at the latest Tuesday night 10/3...