When I joined TotallyMoney three years ago, I set myself a mission: to make TotallyMoney the best place to work in any industry. Fast forward to last Thursday, and I couldn’t be happier to see these efforts paying off.
That’s because we won Best Company To Work For at 2018’s Credit Awards. Here’s what the judges had to say:
“This was a unanimous winner for a small business which has a CEO who already has the self-proclaimed aim to be the best company to work for. There is a clear passion for people and culture, with great training, innovative ideas for employee engagement — from free fruit to two days off per year for voluntary work for good causes and many exciting CSR [Corporate Social Responsibility] initiatives. Well done TotallyMoney.”
Let’s look in more detail at how we do this. I say “we”, because the work I do really pales in comparison to that of our employees’.
Our Peakon score sits at 8.2 — 0.8 above the industry average — and since introducing it, we’ve seen staff turnover reduce from 64% in 2014 to 23% last year. This has made employees feel like a real team, as shown by the fact that good teamwork is the category staff are most positive about:
- Teamwork (8.5)
- Autonomy (8.4)
- Freedom of Opinions (8.3)
Corporate Social Responsibility and a Highly Ethical Mission
Before staff challenge you do so, companies should think about what more they can do to promote honour in the workplace (it’s one of our values, after all). That’s why our mission is highly ethical. We want to make credit better, by putting customers in control of their data and helping them make smart borrowing decisions. We do this by:
- Giving all our services for free
- Not hosting any high-cost short-term lenders
- Never considering products that make us the most commission when ranking on our comparison site
We also take corporate social responsibility very seriously, so much so we partner with Benefacto to give employees two paid days off a year to volunteer.
Recently, this has seen four employees visit Finsbury & Clerkenwell Volunteers, to help host a carnival-themed party for elderly people at risk of loneliness and isolation. Last Christmas, we also raised £958 for Save the Children; once a quarter, we forgo our Thursday breakfast and donate the equivalent spend to Magic Breakfast: a charity that provides breakfasts to underprivileged children. It was an initiative suggested by one our employees.
All this shows staff that their work goes far beyond the objectives of the business and has a positive influence on the wider community.
Last year, we spent the equivalent of £700 per person on training, translating into 27 different courses. We champion staff to identify their own training opportunities through weekly 1-2-1s with their line manager, which goes a long way in showing we care about their personal development.
We also encourage staff to share what they learn, either at weekly team meetings or at our company breakfast meetings. We want to recognise any training they do and make sure as many people as possible can take advantage of the learnings.
What happens now?
To make TotallyMoney an even greater place to work, we’re actively promoting gender diversity at every level of the business. That’s why we signed the HM Treasury Women in Finance Charter: a commitment to increase women on all levels of the management team to 40%.
What’s more, we recently signed up to PwC’s Tech She Can Charter: a commitment by organisations to increase the number of women working in technology roles in the UK.
It’s to make sure TotallyMoney’s status as a great company to work for is deep-seated in our culture and not just a title we pay lip service to.