The following case study was provided as part of the evidence for the effectiveness of employee engagement strategies in improving performance, productivity and, in the private sector profitability. It has been used cumulatively with other submissions compiled by many leading companies and organisations to leave little room for doubt about the statistical importance of engaging employees.
This particular case study is an additional support to The Evidence Paper
Background:
With a team of over 130 and annual revenues of £29 million Goodman Masson is the largest Independent Financial Recruiter in the UK and has been recruiting professionally qualified accountants and other finance professionals for almost 20 years.
They have been named as a Top 10 ‘Best Small Company to Work For’ by The Sunday Times for two consecutive years and are recipients of numerous industry awards such as: ‘Recruitment Company of the Year’ by APSco in 2012, ‘Best Professional Services Recruitment Company’ by Recruiter Magazine in 2011 and 2012, and in 2010 were awarded ‘Growth Company of the Year’ by Recruitment International.
They set out to challenge their industry’s approach to employee engagement and its association with high staff turnover, placing growth of contribution to profit second behind a strategic agenda to create a unique working experience and environment.
Results:
They created ‘The Experience’ as a framework to achieve their strategic aims. They introduced a number of initiatives including annual wellbeing weeks, recreational classes during working hours, developed a chill out area and created a benefits boutique.
Employee engagement under ‘The Experience’ has been adopted as their brand of working at Goodman Masson and has become part of the internal language of working there. All internal communication refers to ‘The Experience’ and lists their strategic aims: it is the name of the quarterly newsletter and the name of their Intranet.
Goodman Masson believe that placing their approach to employee engagement at the top of their agenda has been the right one. Over the past four years sales have increased by 65%, client base 3 fold, candidates flow 4 fold, website traffic 10 fold and an increase in bottom line profit contribution.
The strongest indicator is their attrition rate which was less than 14% in 2012 is considerably lower than the industry average of 40%.
