WR&C exists to contribute, and to help others contribute, to the growth and deepening of human knowledge and learning.
While profit is essential to build a robust and lasting business, profit maximisation for its own sake is not our purpose.
The values we recognise, and try to work by, are:
- good stewardship
We recognise that a business cannot exist without good relationships with all its stakeholders: our owners, our clients, our suppliers, our staff, our neighbours, government and the environment. We seek always to build relationships with all our stakeholders that are direct, long-term, based on common values and a fair sharing of risk and reward.
In short, we aim to treat others as we would want to be treated.
Here are the ways we try to live those values out day to day.
WR&C is committed to providing the best possible service to clients. This is good business, but good work is also an end in itself. This means:
- doing work of the highest quality, within reasonable timeframes agreed in advance, and as far as possible to put things right if the quality of the work is not sufficient for whatever reason;
- doing only that work for which WR&C is a leading supplier. We would rather refer a client elsewhere than do work at which we are not among the best;
- doing only that work that the client actually needs;
- doing that work at a price that fairly reflects the interests of all our stakeholders;
- communicating in a timely, full and frank way.
Maintaining an appropriate work-life balance is key, because it results in happier staff doing better work. To ensure this:
- there is a maximum working week, agreed between staff and management;
- weekend working is allowed only by permission of the managing director, and will be exceptional;
- all staff are required to take their full holiday allocation, unless sanctioned by the managing director.
We also look to our suppliers and contractors to be dealing with their staff in a similar way.
We also know that doing good work needs to be enabled. Our staff and contractors will always have the resources and equipment they need to do the best job. Our staff will also be fully trained for their current role, and beyond it for their next.
Good supply is fostered by good relationships with suppliers. We will:
- pay our bills on or before time;
- provide constructive feedback on the goods and services we use;
- look to use the most local supplier possible, of the requisite quality;
- look to establish long-term relationships with suppliers, consistent again with maintaining quality and a competitive price.
In more general procurement, in which no direct relationship is possible, we look to source goods and services from organisations with the closest fit with our values.
We recognises that no business has a future if the natural environment is damaged by its operations. WR&C will operate with the lowest environmental impact possible, and seek to ameliorate the impact it does have.
In particular, we will:
- make choices concerning transport with regard to the production of carbon dioxide, choosing train over plane, and public transport over car wherever possible;
- use assets and materials, such as computers, to the end of their useful life, rather than in line with an arbitrary replacement schedule;
- recycle wherever possible;
- procure more environmentally sound options, such as recycled goods, where such are available;
- offset those carbon dioxide emissions that cannot be avoided.
Profit, dividends and charitable giving
Each year shareholders are asked to approve a level of retained profit, to help manage risk, ensure the continuity of the business, help us meet long-term responsibilities to our stakeholders, and to fund planned investment.
In any year, the share of pre-tax profit paid to charitable causes will be not less than 10%. These charitable causes will be project or organisations that either:
- further the understanding of the history of the Christian churches; or
- benefit children or adults with special educational needs; or
- benefit the city of Chichester and its environs.
Then, and only then, a dividend may be paid out of the profit remaining.
Stewardship of assets
In the management of financial assets retained on the balance sheet, we look to invest funds either directly in organisations that act in line with our mission and values, or with banks and other intermediaries that look to invest in the same manner.
Our attitude to investment risk is conservative. The assets of the company are there to help us meet long-term responsibilities to staff and other stakeholders, and so the investment portfolio will reflect that priority.