ClearBridge’s culture is goal-oriented and has a strong focus on mentoring junior employees, including extensive training ranging from improving presentation skills, management training to encourage and develop new leaders and performance management, he said.
Training is part of “empowering individuals to manage their areas of expertise, and we ask them to think like entrepreneurs within the firm about their work. We are very transparent about the goals we set and how to achieve them,” Mr. Murphy said.
Training and mentoring often leads
to internal promotions, Mr. Murphy
said, adding, “This is a great way to promote from within so analysts can move up to become portfolio managers, for example.”
The chance for internal promotion also means the firm’s turnover is very low, Mr. Murphy said. In its most recent fiscal year, ClearBridge reported a 3% turnover rate as part of its Best Places to Work survey.
Employees said they appreciate the effort ClearBridge expends on maintaining its companywide culture.
“ClearBridge has a unique culture of inclusion and all my colleagues treat each other with care and respect. The company’s management team has the employees’ core interests in mind and
all top managers are very open and accessible,” an employee commented in the survey.
By way of attracting young people to consider a job in the investment industry, hopefully at ClearBridge, the firm offers both summer and winter break internships for college students and also is working to diversify its workplace. A Diversity Equity Inclusion Council has recommended broadening recruitment sources to find more employees with diverse backgrounds.
As for fun and good health, ClearBridge hosts virtual wine tasting and cooking contests for employees and encourages them to eat well, providing nutrition training. The firm also reimburses employees who purchase produce from local farms up to $300.
ClearBridge executives keep in touch with employees via quarterly virtual town halls with between 20 and 30 people at a time.
“In a smaller group, people are more willing to engage and ask questions than they are in a larger group,” Mr. Murphy said.
But Mr. Murphy himself makes it a point to be available to employees across the firm and has conversations with many over the course of the year.
“My favorite thing about ClearBridge is talking, collaborating and working with employees. I really appreciate the encouragement we give each other,” he said. ClearBridge has grown significantly during the decade ended June 30 with assets under management increasing 261.6% to $198.5 billion as of June 30.
Headcount has grown as well. At the end of June 2012, the firm had 157 employees. Currently, ClearBridge’s workforce totals 262.