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Investment managers are inextricably in the human capital business. Our greatest assets ride the elevator every day. And we are especially dedicated to the exceptional people who work for our company. They make it possible for us to deliver on all our other obligations.

An important cultural aspect of our company is that our people are owners, not just employees. We believe ownership aligns the interests of our employees with those of our clients. It provides an additional opportunity for them to enjoy the fruits of their labor. Their work contributes to our clients’ success. Through equity ownership, our employees participate in the long-term growth of our organization.

Many of our team members participate in our employee stock purchase plan. The comprehensive nature of this plan is rated by MSCI as “sector leading.” MSCI’s report also rated our Performance Appraisals and Feedback Processes and our Job-Specific Development Training Programs as sector leading.1

Ownership opportunities include a restricted stock grant program, which serves as a form of long-term incentive compensation. Importantly, restricted stock awards are not limited to executives and managers.

At the end of 2020, 79% of Victory Capital’s 429 employees beneficially owned 21% of the company’s shares.

Beyond equity ownership, our employees have also elected to personally invest some $190 million of their own funds in our investment products.2

This culture of ownership provides employees a share in our collective success and has produced positive outcomes for both our clients and shareholders. Our people work hard to achieve ambitious corporate goals, and we take pride in the deep expertise each brings to the table. This places an important responsibility on the company.

We know that we must provide a challenging and intellectually stimulating environment for our people to accomplish desired results. We must also create an appealing workplace in which they can thrive. This is why we have created a culture that focuses on their health and well-being. Our employee benefits plan helps to deliver on this commitment.

 

Employee benefits

We offer a wide array of benefits to attract, retain and support the most qualified workforce possible. The perquisites we offer to all employees are intended to promote and maintain their well-being holistically. The benefits we offer are broadly characterized as:

  • Medical
  • Professional
  • Personal
  • Recreational
  • Financial


Medical

Our healthcare benefits package includes both curative and preventative components. They are intended to help cover the cost of treatment for our employees who get hurt or sick and help them reduce or avoid conditions that might lead them to get hurt or sick.

We provide an extensive package of medical, dental and vision insurance plans, Health Savings Accounts and Flexible Spending Accounts. Our plan also includes accident and critical illness coverage.

Under normal (pre-pandemic) circumstances, we sponsor an annual health fair where free fu shots and biometric screenings are available. We offer an incentive program for routine medical exams and health education courses. We reimburse a portion of our employees’ external gym memberships and health programs. Some of our office locations have treadmill workstations, and our San Antonio headquarters has a complete fitness facility that is available at no cost to our employees.

Professional

Our supportive workplace provides in-house training and career development. Opportunities within the organization are available to any qualified candidate from across functional areas of the firm. We also reimburse employees for certain work-related education expenses to support them in broadening or honing their talents.

Personal

We want our team members to reach the right balance between their personal lives and professional obligations. This includes unlimited paid vacation for salaried employees, additional flexible paid time off and paid parental leave.

Victory Capital’s established Paid Military Leave Policy helps those who serve in the Guard and Reserves meet their service obligations. They are eligible for paid time off in the event they are called to active or temporary military duty.

We support our employees who enlist in the U.S. Armed Forces after they are hired by providing them paid leave for up to a year. Then, when they return to work, their jobs are still available because we follow the Department of Labor’s Uniformed Services Employment and Reemployment Rights Act’s (USERRA) “escalator principle.” When our employees return from Paid Military Leave, they are eligible to be reinstated to the position they would have attained if their employment had been uninterrupted.

Recreational

Our team members enjoy discounts on products and services from brand-name vendors with which we have partnered.

Financial

Benefits include a variety of life and disability insurance options as well as a legal services referral program.

Our 401(k) plan offers generous matching, vesting and loan provisions, and we have contracted with an administrator that offers financial wellness education and planning tools to help our people better prepare for retirement. And we augment our employees' retirement savings when possible.

For example, we implemented a special profit-sharing award to compensate our employees for exceptional execution in 2020. During a difficult year, our employees’ efforts helped us end 2020 with record results. Thus, we rewarded our team members with a special, one-time 401(k) profit-sharing contribution.3

To encourage wide participation and utilization of our comprehensive benefits package, all new employees are welcomed into Victory Capital through a focused onboarding process. Onboarding helps us explain benefits, maximize their value to employees, and simplify enrollment.

We use onboarding to educate employees about the firm’s policies and procedures. They use our Security Education Platform to understand their role in data security, which is reinforced regularly through mandatory continuing education. Onboarding helps introduce employees to our company culture and values.

 

1 Preeti Jadhav, MSCI ESG Research,“Victory Capital Holdings, Inc. (VCTR) – Asset Management & Custody Banks | US, Responsible investing practices drive upgrade,” page 34, February 19, 2021.

2 Calculated annually. Latest figures as of December 31, 2020.

3 Eligibility requirements applied and 87% of employees received the bonus.

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