Founded in 2009, Aldermore was one of the first of the new breed of challenger banks. We worked with Aldermore to help establish the customer proposition (‘Building a Bank to be proud of’ and ‘the can-do bank’) as they championed a new way of supporting mortgage and SME customers as exemplars of service and excellence. However, the business grew rapidly both organically and through acquisition and it was clear from our analysis of the all staff survey in 2012 that any further growth would be impossible without addressing the serious engagement issues. Attrition was rising to the extent that the recruitment budget wouldn’t cover the leavers let alone cater for the new hires required for growth. We had to act.
We conducted additional research, focus groups in each location and an analysis of attrition data and came up with a plan. Effectively we had to ‘rehire the staff’ and in so doing rebuild a culture of trust, recognition and cohesion.
We started with the Exec Team to ensure their understanding of the gravity of the situation. Then we launched to the next tiers down, making clear their responsibilities as managers for defining and implementing the best possible employment experience – and supporting them through pulse surveys, quarterly events and ongoing coaching. We had to move the culture, we had to drive change, and used the Sunday Times 100 Best Companies to Work For as a guiding light. More broadly we developed a calendar of employee engagement activity with some clear goals; reduce attrition, increase engagement and employee advocacy, improve managers’ skills, and ensure greater focus on well being. In addition to the coaching and events support, we developed a managers’ toolkit designed to develop their own approach to engagement and give them the support and tools to acknowledge great work and create a true culture of recognition.
In terms of results and ROI, we ran Best Co for three successive years gaining improved scores each year and ‘One to Watch’ in years two and three (despite a large consultation process happening simultaneously). We also saved them £980k in the first year through reduced attrition and improved recruitment around a new EVP. Most importantly we set them back on course for a successful listing on The London Stock Exchange in 2015 and
a subsequent acquisition by First Rand in 2018.
“DNA are our strategic partner in all things recruitment and engagement. The savings and improvements we’ve made are directly attributable to the work we’ve done together.” Chris Bleakley, Resourcing Director
“DNA are our strategic partner in all things recruitment and engagement. The savings and improvements we’ve made are directly attributable to the work we’ve done together.”
Chris Bleakley – Resourcing Director