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Modern slavery statement

Last updated on 1 August 2024.

Organisaton

This statement applies to Magnetic (referred to as ‘the Organisation’). The information included in the statement relates to the financial year ending 31 August 2024.

Organisational Structure

Magnetic is a design and innovation company with offices in London and Manchester. Our team comprises talented, autonomous individuals who work across four client-facing squads and an enablement team focused on operations, people, finance and marketing.

Magnetic is the trading name of Fluxx Limited and is part of the Newton group. Our parent company is Newton Europe Bidco Limited and our ultimate parent company is Newton Group Holdings Limited. Our Leadership Team includes our Chief Executive Officer, Jenny Burns; Chief of Staff, Jassi Porteous; Managing Director, Jason DaPonte and our three Executive Directors, Sophie Little, Lucy Willett and Peter Hay.

The Organisation's main activities are professional services for design and innovation. We assist clients in uncovering insights, developing creative solutions, and designing products and services that solve their challenges. We work predominantly in the UK, where our head office is based, with occasional travel globally, having previously operated in countries including the US, UAE, India, Spain, France, Germany, Hong Kong, Mexico and Canada.

Definitions

The Organisation considers that modern slavery encompasses:

  • Human trafficking
  • Forced work, through mental or physical threat
  • Being owned or controlled by an employer through mental or physical abuse or the threat of abuse
  • Being dehumanised, treated as a commodity, or being bought or sold as property by Fluxx Limited (trading as Magnetic)
  • Being physically constrained or having restrictions placed on freedom of movement

Commitment

Magnetic is committed to our mission of designing better futures that do not include slavery. We oppose all forms of modern slavery, which violate fundamental human rights and deprive people of their liberty and autonomy for commercial gain. We fully support the principles of the Modern Slavery Act 2015 and are committed to the abolition of modern slavery.

The Organisation acknowledges its responsibilities in relation to tackling modern slavery and commits to complying with the provisions of the Modern Slavery Act 2015. The Organisation understands that this requires an ongoing review of both its internal practices in relation to its labour force and, additionally, its supply chains.

The Organisation does not enter into business with any other organisation in the United Kingdom or abroad which knowingly supports or is found to involve itself in slavery, servitude and forced or compulsory labour.

No labour is provided to the Organisation in the pursuance of the provision of its own services is obtained by means of slavery or human trafficking. The Organisation strictly adheres to the minimum standards required in relation to its responsibilities under relevant employment legislation in the United Kingdom of Great Britain and Northern Ireland and in many cases, exceeds those minimums for its employees.

Magnetic is proud to be a certified B Corporation, reflecting our commitment to balancing purpose with profit. We meet the highest social and environmental performance standards, transparency and accountability, using our business as a force for good. Through sustainable practices, ethical decision making and community engagement, we strive to positively impact our employees, customers and the planet.

At Magnetic, we believe that by aligning our values with our business strategies, we can create lasting change and drive meaningful progress for future generations.

Supply Chains

Our main supply chains relate to professional consulting services provided by employees. We ensure that all equipment and materials are sourced from reputable suppliers with their own Modern Slavery Statements and compliance with the Modern Slavery Act 2015.

Recruitment, Selection and Resource Management

Our recruitment processes ensure that all prospective employees are legally entitled to work in the UK via our Baseline Personal Security Standard (BPSS) process. We offer an industry-leading benefits package designed to support and safeguard our people, and our policies often exceed the minimum employment law requirements in the UK.

Potential Exposure

In general, the Organisation considers its exposure to slavery/human trafficking to be relatively limited. We have taken steps to ensure that such practices do not take place in its business nor the business of any organisation that supplies goods and/or services to it. However, we have taken steps to mitigate this risk, ensuring that slavery and human trafficking do not occur within our business or supply chains.

Steps Taken

The Organisation conducts due diligence to prevent modern slavery, including regular reviews of supplier controls. We have a ‘Preferred Supplier List’, which is updated regularly. Our supplier contracts include termination clauses if the supplier is suspected of involvement in modern slavery.

The Organisation has not, to its knowledge, conducted any business with another organisation which has been found to have involved itself with modern slavery. Because of our size, we are not required to have a modern slavery statement but have chosen to do so voluntarily.

In accordance with section 54(4) of the Modern Slavery Act 2015, the Organisation has taken the following steps to ensure that modern slavery is not taking place:

  • Our supplier contracts include termination powers if the supplier is, or is suspected to be, involved in modern slavery
  • Our Chief of Staff is responsible for identifying and assessing the potential risks in our supply chains
  • Should we find any supplier or client is engaged in modern slavery, we will terminate our relationship with them
  • In FY24/5 we will explore formalising our commitment by introducing ISOs
  • All staff must read and confirm their understanding of this statement annually

Training and Awareness

We are committed to raising awareness of modern slavery across our organisation. All employees are required to read and sign this statement upon joining the company and training will be provided to appropriate employees.

Follow-up on Identified Issues

If any incidents of modern slavery are identified within the Organisation or its supply chain, we will conduct a detailed investigation. We will take appropriate action, including remediation for affected individuals and steps to prevent recurrence. Should we find any supplier or client engaged in modern slavery, we will terminate our relationship with them.

Commitment to Continuous Improvement

The Organisation is committed to continuously improving its policies and procedures to combat modern slavery. This includes setting future goals, regularly updating this policy and integrating stakeholder feedback.

Key Performance Indicators

To measure our effectiveness, we have set the following key performance indicators:

  • A review of this policy annually, with support from our Head of HR
  • Regular updates to this statement with progress and actions taken as required

Governance and Accountability

Our Chief of Staff serves as the Slavery Compliance Officer, responsible for addressing concerns about modern slavery. The Slavery Compliance Officer will work with the Head of HR to ensure the Organisation meets its obligations.

Reporting Mechanisms

We have established a confidential reporting mechanism for employees and stakeholders to report concerns about modern slavery, including a dedicated email address; reporting@wearemagnetic.com.

Policy Communication and Accessibility

This policy is available to all employees, suppliers and relevant stakeholders. It is accessible on the company’s intranet, HRIS documents section and included in our onboarding process.

Legal and Compliance Updates

The Organisation ensures that this policy remains current with changes in relevant laws, regulations and industry standards. We conduct regular legal reviews and consult with experts to maintain compliance.

This statement, made pursuant to Section 54 (1) of the Modern Slavery Act 2015, has been reviewed and signed off by Jenny Burns, CEO, Magnetic, on 1 August 2024 and will be reviewed at the end of the financial year.