Our commitment to our employees is central to our ability to continue to deliver strong performance and financial results for our stockholders and other stakeholders. We seek to create and cultivate an engaging work environment for our employees, which allows us to attract, retain, and develop top talent to manage our business. We also encourage our employees to be actively involved in the communities in which they live through various initiatives.
As part of our commitment to our employees, our community members, and giving back to those in need, the BNL team has focused on the following programs:
Diversity, Equity, and Inclusion
We are committed to creating and maintaining a culture of inclusion and connectedness and we believe the company is better able to grow and improve with a diverse Board of Directors, management, and team of employees. To that end, we value and advance the diversity and inclusion of the people with whom we work. These commitments extend to the composition of our Board of Directors and our workforce.
As of March 31, 2023, four of our ten directors identify as female and 50% of our directors identify with underrepresented groups.
Further, employees who identify as women comprise 59% of our workforce, 32% of our officers, and 27% of our executive officers.
Additionally, approximately 60% of our employees are between 30 and 50 years old, and approximately 15% of our employees are Hispanic or Latino, Black or African American, Asian, or identify as two or more races.
BNL’s Diversity, Equity, and Inclusion (“DE&I”) Committee spearheads ongoing efforts to design and implement related programs and deepen our commitment to this important initiative. DE&I program updates are routinely reported to the Board of Directors. Recent achievements include:
- Women’s Group – In 2022, we held planning meetings for the formation of a Women’s Group, with the goal of engaging, developing, and supporting the women in our workforce. Further refinement and implementation of programming for our Women’s Group is a DE&I related focus area for 2023.
- Gender Pay Equity Study – In collaboration with our independent compensation consultant, we proactively conducted a gender pay equity study in 2022 to assess pay equity across our workforce and identify potential areas for improvement. No issues of note or material risks were identified in our compensation practices.
- Inclusivity Training – In 2022, all employees participated in an inclusivity training workshop conducted by a third-party firm that was designed to provide employees with knowledge and skills they can use to contribute to a healthy and effective culture where people from all backgrounds can thrive. Managers participated in an inclusive leadership course and individual contributors participated in an inclusive culture course. An online version of the applicable training is also included in new employee onboarding.
- DE&I Focused Charitable Giving and Community Support – The Company is committed to promoting and supporting diversity, equity, and inclusion initiatives beyond our workplace. In 2022, we increased our annual giving, and allocated a percentage targeted specifically to nonprofit organizations with DE&I related missions, intended to expand services and support in the communities where our corporate and regional offices operate and where our employees live. The organizations we supported work to combat food insecurity, provide support for at-risk women, children, and teens, promote urban entrepreneurship, provide critical mental health and social services, combat homelessness, break the cycle of poverty, and provide free civil legal services for those that qualify.
- Some BNL employees and directors serve as volunteer board and committee members at local non-profit organizations. BNL supports those organizations and employee contributions by sponsoring events and providing cash and in-kind donations.
- DE&I Digest – A quarterly newsletter is sent to all employees to share DE&I related content and resources to encourage employee awareness, education, and participation.
Broadstone encourages employees to get involved in philanthropic and community work both in and outside of the workplace. A dedicated committee of employees coordinates volunteer events and activities supporting a variety of non-profit organizations in the regions from which we operate. Some initiatives and activities in 2022:
- Community-service events at, and sponsorship of additional events to benefit, local food banks
- Engagement in a literacy program in which employee volunteers visit a school in the City of Rochester, NY once per month to read with local students
- Company- and employee-sponsored donations of meals to local families and individuals in need, including a “Thanksgiving Appeal” program and a “PB&J Factory”
- Sponsorship of an annual Holiday Lights Tour, including facilitating participation for all Rochester-based employees, the proceeds of which benefit a local child advocacy center
- Participation in a “cards of encouragement” program in which employees created uplifting messages for local individuals of all faiths
- Participation in annual school supply donation drives
- Participation in annual winter apparel drives
Beginning in 2023, each of our full-time employees is entitled to 16 hours of paid volunteer time off to provide them with the flexibility to pursue philanthropic activities. Such paid time off is in addition to any participation in company-sponsored philanthropic activities, which does not require the use of paid time off.
Consistent with our commitment to high standards of ethical, honest, and legal business conduct, we have established a Political Spending Policy that prohibits the use of corporate funds for political purposes. Pursuant to the policy, Broadstone and its employees are permitted to belong to certain trade associations and similar organizations, such as Nareit.
Working & Culture at BNL
We strive to create an engaging work experience that allows for career development and related opportunities. Our employee benefits program focuses on the overall well-being and development of our employees and includes generous paid time-off policies for both personal and sick leave, on-site flu vaccinations, 100% employer-paid health insurance options for all full-time employees, employer contributions to a health savings accounts (for those employees with high deductible plans), health concierge services, employer-funded life insurance, as well as other customary benefits. We strive to promote a healthy workplace, offering webinars, health and fitness challenges and events, and an Employee Assistance Plan that provides counseling services to employees.
We also encourage professional growth for all our employees through internal training and development and by offering access to various online educational and training resources and webinars, reimbursement for continuing education, and opportunities for tuition assistance and reimbursement.
To view a comprehensive list of employee benefits, click here.