The British Business Bank has an HR strategy which supports the growing organisation and its new business initiatives. This financial year, our aim is to implement efficient people processes, introduce smarter ways-of-working and increase colleague engagement across the business.
The HR strategy reflects the size and needs of the organisation while providing value for money.
The Bank offers a unique employment proposition with a strong purpose – an opportunity to transform the finance landscape for smaller UK businesses, with a range of broad and interesting roles where people can make a real difference. Our annual employee engagement survey showed that 94% of colleagues said they were proud to work for the organisation.
During 2017 we won the award for ‘Excellence in HR (Public Sector)’ in the Personnel Today awards.
Key ‘people’ milestones in 2017/18
- April 2017: We merged The Start-Up Loans Company with British Business Bank, bringing the unique skills of new colleagues on board.
- May 2017: We introduced ‘learning at work week’, joining a national campaign that encourages curiosity and creativity about on-the-job learning.
- June 2017: We continued our summer internship programme, which aims to develop young people’s skills and experience to succeed in their future careers.
- July 2017: We invested in the design and delivery of a new digital HR, payroll and finance service.
- October 2017: As part of our location strategy, we moved our Sheffield Head Office to brand new premises, ‘Steel City House’. The new building provides us the space necessary to expand.
- November 2017: At Autumn Budget the Chancellor provided the Bank with substantial new resources, bringing about a rapid expansion to deliver new initiatives.
- January 2018: We launched a new employee benefits system. We also increased our focus on mental health support to colleagues, including appointment of mental health first aiders.
- February 2018: We rolled out new finance, HR and payroll systems to offer significant improvements to the employee experience. The improved and automated services better support colleagues, maximise productivity and improve our approach to performance management. We also introduced a new recruitment system to improve the candidate experience.
- March 2018: The British Business Bank signed up to HM Treasury’s Women in Finance Charter. We introduced a discretionary incentive award scheme to encourage good performance and increase colleague motivation.
How do we continue to ensure that we are fit for growth?
Organisation’s culture and performance:
- By continuing to build the British Business Bank as a credible organisation, measuring our performance against our goals and objectives.
- By taking the best elements from public and private sector to make the Bank both successful and a great environment in which to work.
- Our Colleague Forum meets every two months with colleagues from Sheffield and London representing teams across the business, to ensure our organisational values remain core to how we work together.
Diversity and inclusion agenda:
- By reporting on the gender pay gap, commissioning an equal pay audit and signing up to HM Treasury’s Women in Finance Charter, demonstrating our commitment to promoting diversity and inclusion.
Learning and development:
- By supporting ongoing learning and development to empower colleagues to have real accountability and provide timely and relevant expertise based on market requirements.
- By introducing ‘Talent’ as one of our cultural values, we are committed to building a culture where developing colleagues’ talents becomes a key business driver.
- By rolling out a number of leadership coaching and management training programmes for business leaders.
- By implementing a robust performance and remuneration strategy ensuring it reflects the organisation’s reward philosophy.
- By introducing HR analytics during 2017/18 to ensure we are efficient and effective in our people operations and planning for the long term.