| Personnel |
5 Personnel | Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant.
Non-market based performance criteria are taken into account when estimating the number of shares expected to vest.
The fair value of share based remuneration is determined by use of a binomial or Monte Carlo simulation model as appropriate. All of the Group’s share based remuneration is equity settled. |
| | | | | | | | | | | | | 2023
GBPm | | 2024
GBPm | | 2025
GBPm | Staff costs | | | | | | | | | Wages and salaries | | | | 2,636 | | 2,630 | | 2,679 | Social security costs | | | | 274 | | 280 | | 288 | Pensions | | | | 142 | | 144 | | 145 | Share based remuneration | | | | 56 | | 66 | | 63 | Total staff costs | | | | 3,108 | | 3,120 | | 3,175 |
Staff costs above exclude cost of contractors and employer costs of benefits provided to employees but include amounts that are capitalised as part of capitalised development spend. The Group provides a number of share based remuneration schemes to directors and employees. The principal share based remuneration schemes are the Executive Share Option Schemes (ESOS),
the Long-Term Incentive Plan (LTIP) and the Retention Share Plan (RSP). Share options granted under ESOS are exercisable after three years and up to ten years from the date of grant at a price equivalent to the market value of the shares at the date of grant. Conditional shares granted under LTIP and RSP are exercisable after three years for nil consideration if conditions are met. Other awards principally relate to all employee share based saving schemes in the UK, the US and the Netherlands. Further details are provided in the Remuneration Report on pages 100 to 120. | | | | | | | | | | | | | NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS* | | At 31 December | | Average during the year | | | Restated | | Restated | | | | Restated | | Restated | | | | | 2023 | | 2024 | | 2025 | | 2023 | | 2024 | | 2025 | Reported segment | | | | | | | | | | | | | Risk | | 11,100 | | 11,000 | | 11,800 | | 10,900 | | 11,000 | | 11,400 | Scientific, Technical & Medical | | 9,400 | | 9,600 | | 9,700 | | 9,500 | | 9,500 | | 9,700 | Legal | | 11,500 | | 11,600 | | 11,900 | | 11,600 | | 11,600 | | 11,800 | Exhibitions | | 3,500 | | 3,300 | | 3,400 | | 3,500 | | 3,500 | | 3,300 | Print & print-related activities | | 400 | | 300 | | 200 | | 400 | | 300 | | 200 | Sub-total | | 35,900 | | 35,800 | | 37,000 | | 35,900 | | 35,900 | | 36,400 | Corporate/shared functions | | 600 | | 600 | | 600 | | 600 | | 600 | | 600 | Total | | 36,500 | | 36,400 | | 37,600 | | 36,500 | | 36,500 | | 37,000 | Geographical location | | | | | | | | | | | | | North America | | 14,600 | | 14,200 | | 14,200 | | 14,700 | | 14,500 | | 14,300 | Europe | | 10,000 | | 9,300 | | 9,200 | | 9,900 | | 9,600 | | 9,200 | Rest of world | | 11,900 | | 12,900 | | 14,200 | | 11,900 | | 12,400 | | 13,500 | Total | | 36,500 | | 36,400 | | 37,600 | | 36,500 | | 36,500 | | 37,000 |
* Reported to the nearest 100. Refer to note 1 for further details of the restated numbers disclosed. The number of UK full-time equivalents as at 31 December 2025 was 5,500 (2024: 5,600; 2023: 6,000) and the average during the year was 5,500 (2024: 5,700; 2023: 5,900).
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