For AMG, our employees are our most important asset, and attracting and retaining top talent to execute on our business objectives is a fundamental imperative. We have numerous programs to support our employees, and are focused on building employee engagement within their communities through corporate citizenship initiatives.
AMG prioritizes employee engagement through a range of cross-functional, multi-level communication mediums, such as small working group lunches, company-wide town halls, and management offsites. In 2019, AMG launched a formal employee survey, which the Company conducts annually. In 2023, the survey reported employee satisfaction of 87%.
Employee Benefits, Development, and Retention
All employees are offered a comprehensive and competitive benefits package. Some benefit programs require contributions and others are fully paid by the Company, including but not limited to:
- AMG’s 401(k) Profit Sharing Plan
- Health Insurance Plan (including vision care and prescription benefits); Dental Insurance Plan
- Flexible Spending Accounts for Health Care, Dependent Care, and Commuting
- Continuation of Coverage under Group Health and Dental Plans (COBRA)
- Life Insurance
- Accidental Death and Dismemberment (AD&D) Insurance
- Short-term Disability Coverage
- Long-term Disability Coverage
- Parental Leave and On-Site Accommodations for Nursing Mothers
- Accommodations for individuals with disabilities
- On-site fitness center at majority of principal offices
- Paid vacation commensurate with years of service
- Occasional early office closings
- Flexible work arrangements including a Work from Home Policy, which includes a hybrid working arrangement
- Annual philanthropic gift-matching for each employee
In addition, each employee is required to attend an onboarding session to review benefits, policies, and procedures.
Leadership training and skills development are anchored on a comprehensive performance review process, which includes a company-wide 360-degree review program. We believe regular communication between employees and managers fosters a work-based learning environment. AMG encourages its employees to take responsibility for their development, in partnership with their managers, and leverages informal communications alongside annual performance reviews to evaluate employee satisfaction. Employees work with managers to set goals and objectives on an annual basis at minimum. AMG supports employees’ educational pursuits relating to degree programs and certifications through company-supported time off for professional development and flexible work arrangements tailored to individual employees’ educational goals.
Occupational Health and Safety
AMG strives to provide a safe and secure working environment for its employees, with formal policies and programs in place to address:
- Injuries and accidents
- Substance abuse
- Highly contagious diseases
- Violent or threatening behavior
- Emergency evacuation
- Weather emergencies and natural disasters
AMG’s health and safety policies are applicable to all facilities and operations. We dedicate significant resources to emergency preparedness and have placed automated external defibrillators (AEDs) throughout our principal offices. In addition to our formal policies and programs, AMG provides optional cardiopulmonary resuscitation (CPR) and AED certification courses for our employees.
Diversity and Inclusion
AMG is committed to fostering and promoting an inclusive and globally diverse work environment in which all of our employees are valued and appreciated for their contributions. We believe that diversity, equity, and inclusion result in a highly creative and innovative workforce, and engage third-party talent recruitment firms specializing in identifying strong diverse candidates to ensure we evaluate diverse candidates for all open positions. We have an Equal Employment Opportunity and Anti-Discrimination Policy applicable to all employees that prohibits discrimination based on race, color, ethnicity, national origin, religion, sex, pregnancy or pregnancy-related condition, sexual orientation, gender identity or expression, age, physical or mental disability, genetic information, ancestry, veteran status, military service, application for military service, marital status, and other legally protected classifications. Our Equal Employment Opportunity and Anti-Discrimination Policy goes hand in hand with our Anti-Harassment Policy, which prohibits sexual harassment or discriminatory harassment of any kind. Our Equal Employment Opportunity and Anti-Discrimination Policy and our Anti-Harassment Policy, and corresponding measures, include the following:
- Explicit statement prohibiting both sexual and non-sexual harassment
- Zero-tolerance policy for discrimination
- Trainings for all employees on discrimination and harassment in the workplace
- Defined escalation process for reporting incidents
- Corrective or disciplinary action taken in case of discriminatory behavior or harassment
Our Anti-Harassment Policy details how to report and respond to harassment issues and concerns, and strictly prohibits retaliation against any employee due to reporting harassment. If AMG determines that a violation of the Equal Employment Opportunity and Anti-Discrimination Policy or the Anti-Harassment Policy has occurred, appropriate disciplinary action will be taken against the offending party. We are equally committed to operating in a business environment that promotes equal employment opportunity in our hiring practices and in managing all our employees and this is evident in all aspects of our employment practices and policies. Cooperation with these policies is mandatory and relates to all hiring, promotion, and day-to-day activities of AMG. Reporting of any actual or suspected policy violations, misconduct, or concerns may be reported confidentially to the employee’s manager, Human Resources, or the Chief Administrative Officer. AMG strictly prohibits retaliation in response to such reporting.
We have implemented diversity and inclusion training for all employees to prevent discrimination or harassment, and continually seek to further enhance the diversity of our employee base as our employees around the world contribute their distinct perspectives to improve our business and the communities in which we operate. Our executive management team has responsibility for diversity initiatives, and reviews these with our Board of Directors on an annual basis at minimum.
AMG has achieved gender diversity of approximately 40% across management positions, surpassing the asset management industry average. Overall, more than half of AMG’s corporate workforce is female. In addition, we are highly attentive to Board diversity and refreshment; 38% of the independent Directors are women, and 25% of the independent Directors are ethnically diverse; in each case, above the average of S&P 500 companies.
Human Rights and Labor Standards
As a global enterprise, AMG recognizes the importance of upholding the highest standards of human rights across all aspects of our business. AMG is supportive of international efforts against human rights abuses, and is committed to prohibiting the use of forced labor and child labor in its organization and supply chains. While specific laws and regulations may differ in each of our global offices, our core values are consistent and reflected in the way we operate. Globally, our business is increasingly conducted in the local language as part of our ongoing effort to facilitate open and honest communication with all stakeholders.
AMG’s human rights and labor principles apply to all of our offices, facilities, and operations. AMG employees may exercise their freedom of association with regard to collective bargaining in accordance with United Nations Conventions 87 and 98 in compliance with all applicable laws and regulations. Given the nature of our business, none of our employees are currently covered by collective bargaining agreements. We are committed to providing fair and equal wages without discrimination as well as protecting the rights of women and minority groups, as reflected by our Equal Employment Opportunity and Anti-Discrimination Policy as well as our Anti-Harassment Policy.
Our commitment to ethical standards extends to our vendors and suppliers, and we seek to align with businesses that are respectful of the rights of their employees. Our due diligence efforts confirm that our vendors and suppliers provide safe working conditions and fair wages, actively prevent discrimination in the workplace, and prohibit the use of forced labor. All vendors and suppliers must comply with child labor laws and only hire employees that meet minimum age requirements, in accordance with all health and safety laws.
AMG’s employees may report any actual or suspected violations, misconduct, or concerns regarding human rights or the health and safety of our employees to their managers, Human Resources, or the General Counsel and / or principal legal officer or Chief Administrative Officer. AMG strictly prohibits retaliation in response to such reporting.