BLACKROCK RESPONSIBILITY

Human capital

Our commitment

As an asset management firm, the long-term sustainability of our firm is heavily dependent on our people. We make a deliberate effort to foster a unifying culture, to encourage innovation, to ensure that we are developing, retaining and recruiting the best talent, to align employee incentives and risk taking with those of the firm, and to incorporate inclusion and diversity into all levels of our business.

Each year, we set corporate objectives specifically related to human capital. We achieve these objectives through specific programs and initiatives related to culture, inclusion and diversity and employee development, retention and recruiting. We listen to our employees and over 90% of them participate in our annual employee opinion survey every year. This year, 91% state they are proud to work for BlackRock and 74% are overall satisfied with working at BlackRock.1 We continue to strive to inspire and engage our talent by providing and enabling high performance and great careers, an inclusive and diverse culture, and great teams and people managers.

 


Strong firm culture

As we pursue our mission to create better financial futures for our clients, we are guided by our culture and our principles. Our principles define who we are and how we operate:

  • We are a fiduciary to our clients
  • We are passionate about performance
  • We are one BlackRock
  • We are innovators

It is more important than ever that our culture helps us maximize performance and drive excellence every day.

— Larry Fink, CEO, BlackRock
Inclusion and diversity
Inclusion and diversity are key to our success. By leveraging our diverse experiences, backgrounds and insights, we inspire innovation, challenge the status quo and create better outcomes for our clients and employees.
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Employee development, retention and recruiting

It is the capabilities of our employees and our leaders that enable us to deliver for our clients, and we’re focused on providing them with career development and a total rewards program to meet their needs.

BlackRock provides ample opportunities for our employees to learn and develop, in both formal and informal settings. Annually (including for the most recent year), our employees average approximately 10 hours of formal training a year - with higher amounts for our Analyst program hires, promotion classes and those selected for our enterprise leadership programs. We spend approximately $1,750 per year, per employee.

BlackRock takes a deliberate approach to succession planning by investing in the development of our talent and giving opportunities to current employees to enhance their careers at BlackRock. In 2017, there were 1,479 internal promotions. An important element of our succession plan is a commitment to building leadership from within the organization.

We also understand that sometimes our employees require flexible work arrangements. BlackRock employees may be able to take advantage of a work arrangement that gives flexibility in balancing life and work schedules. As part of our commitment to attracting and retaining top talent, BlackRock will consider a number of flexible work arrangements, including part-time hourly, limited hour, flexible time, telework and job sharing.

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Human rights
and labor standards

Human rights are a fundamental concern for BlackRock in its relationship with employees and suppliers.

BlackRock is committed to protecting the human rights of our employees through implementing policies related to non-harassment, equal employment opportunity and overtime. These policies seek to provide applicants and employees equal treatment regardless of certain identified characteristics that have attracted historical stereotyping or bias in relation to employment. We comply with all applicable laws and regulations on forced and child labor and the rights of employees to organize a union.

Our non-harassment policy outlines clear procedures for reporting and responding to issues of concern. BlackRock investigates all complaints filed and any possible violation of the policy of which we are made aware. If BlackRock determines that an employee has engaged in activities that are in violation of, or inconsistent with the policy, the firm will take appropriate disciplinary action against the offending employee, up to and including termination of employment.

Since our founding, BlackRock has been committed to equal employment opportunity for all applicants and existing employees. We are also committed to seeking ways in which affirmative actions can help reinforce this commitment. Our Affirmative Action Program (AAP) is developed and implemented to ensure that good faith efforts are made to provide equal employment opportunity to every employee and qualified potential employee. BlackRock also fully supports the Americans with Disabilities Act and responds to requests for reasonable job accommodations from qualified individuals with disabilities, as well as Protected Veterans.

Each employee is responsible for conforming to BlackRock’s equal employment opportunity policy at all times. All managers share the responsibility of assuring compliance with and continued implementation of this policy. Any employee who is found to have violated this policy will be subject to disciplinary action up to an including termination.


In 2017, 94.8% of BlackRock's employees were full time, with 0.1% interns and 5.1% contingent workers.
Employee turnover was 12.4% in 2017, including voluntary and involuntary turnover.