As a family-owned organisation that has been in operation for more than 200 years, Bibby Financial Services recognises the importance of organisational values that are firmly ensconced within all aspects of the business.
The invoice finance specialist has a set of five organisational values, ‘Being Bibby’: powered by people; putting customers first; positive energy; ambitious challenge; and we work as a family.
These values are reflected throughout the entire employee lifecycle and are made use of in its reward strategy. Vicky Smith, reward manager, explains: “We pull everything from our values throughout the employee lifecycle. Our values touch somebody in the job advert, through recruitment, to the offer letter, the induction all the way through to when they start with us, and they see our Your Rewards portal.
“We use the values to strengthen our total reward offering, and mention the terminology in a lot of our literature and communication.”
The ‘we-work-as-a-family’ value and family foundations on which the organisation was built are echoed in its flexible benefits scheme. for example, it offers health screens to employees and partners, as well as critical illness insurance.
Its ‘powered-by-people’ value is also a key factor in Bibby’s benefits offering. Feedback is very important to the organisation, and it encourages staff to share their views through various methods including blogs, the intranet and the chief executive’s roadshows, which are held in each of its 18 locations in the UK.
It was on the back of this feedback that Bibby introduced three new benefits to its flex scheme for 2016: will writing, money boost and a cancer-risk health screen. “People gave us the feedback that these are the benefits they value. It’s really important to us that we don’t just pay lip service to that, and that we do listen to that feedback.” says Smith.