Valuing staff is key
As the area continues to feel the effects of the current downturn, many companies are being forced to reduce costs in a bid to save money.
However, in a competitive marketplace it is more important than ever for managers to look at different ways of rewarding staff to boost morale and maintain productivity.
For Phil Anderson, owner of Phil Anderson Financial Services, this ethos plays an important part of life at his business, and by recognising the value of his employees he has managed to retain and recruit key members of staff.
His commitment to his eight members of highly skilled, enthusiastic staff, who are based in the company’s Ellon, Aberdeen and Caithness offices, led to him being recognised in the 2016 Elevator Awards, reaching the shortlist of the Employer of the Year category.
Focusing predominantly on his staff, opportunities for business growth at the firm have flourished since Phil took on his first employee, Rebecca Shiel, five years ago. By recognising the value of his employees he has continued to retain and recruit key personnel in the industry.
Phil rewards staff for their hard work on a regular basis as he believes this is of fundamental importance to employee morale and wellbeing. By supporting his staff in every way, Phil’s employee retention is 90%, with the majority of his staff being part of the business since its establishment.
Rebecca, who works as office manager, said: “Phil provides a great working environment for us all, resulting in a motivated team. He rewards us greatly and makes it clear that he truly values the work we do for him.”
All staff can progress within the company, and Phil actively encourages employees to advance their personal and professional skillsets to further their development.
The company has also paid for staff to go through financial advisers exams and has developed the administrative and operations staff within the business by offering networking opportunities and development workshops, resulting in a number of employee promotions.
By offering staff these opportunities the company gains a competitive edge as workers become specialists in their profession and are happier in their roles.
Mortgage advisor, Kevin Philip, said: “In my short time with the business, I have already been on networking and development workshops, and Phil also offered to pay for any additional materials that I request for business development with no conditions attached. I have been left with no doubt that any request I have for professional development via qualifications will be supported, and that general staff well-being is a genuine concern.”
Phil also believes in rewarding staff for their hard work and achievements out of the office through incentives such as sporting days, dinner dances, meals out and financial incentives ensuring his team feel valued and motivated to work hard and it allows them to socialise outside of work, enhancing their relationships with their colleagues.
Mortgage advisor Neil Gallagher, said: “The incentives Phil offers to staff means we are focused on our work at all times. He is a fantastic boss and working for him is extremely gratifying.”
Phil added: “As a boss it is vital to ensure my workers are happy, as they play a key role in ensuring the company runs as smoothly and efficiently as possible.
“Rewarding staff doesn’t have to cost a fortune, and there are lots of different ways you can thank workers for their hard work and dedication.
“A happy and committed team build the foundations of a good business, and I believe that I have built a strong committed team through my business ethos.”