Hard work pays off for money.co.uk: Chris Morling, MD, explains the secret behind their success.
Few companies can claim an average increase in profits totalling an eye-watering 75% over the last three years, but the financial comparison website money.co.uk are among that select few. The firm’s turnover rose from £6 million in 2011 to £23.3 million in 2014. Chris Morling, MD of money.co.uk, reveals how he built a workforce destined for success.
Finding out money.co.uk had not only made The Sunday Times BDO Profit Track 100 list, but had come in second place, was such an achievement; it felt like all the hard work had paid off. We were unheard of just a few years ago, but have come along in leaps and bounds since money.co.uk began back in 2008.
money.co.uk is now ranked as one of the largest financial comparison sites in the UK and nothing’s going to stop us from moving onwards and upwards.
As happy as we are to have made The Sunday Times Profit Track, we were even more proud to be recognised as one of the top 20 small businesses to work for nationally. We ranked 7th in the Great Place to Work Small Business category; the results of which were based entirely on a culture audit and staff feedback.
We put our users’ interests first because our aim is to help people make smart financial decisions. So it’s vital that anyone joining my team buys into our culture and ethos, so I meet with every potential new recruit before they’re formally offered a position. I firmly believe that assessing compatibility as part of the recruitment process is an important step in putting together a tight-knit team that will help my business grow.
The proof is in the pudding: we’ve had very few people leave the company, have a rate of absence that’s far below the national average and a leadership team that’s been with me right from the beginning.
It’s a cliché, but we work hard and play hard too. Each member of my team is best in their field and consistently impresses me with what they achieve. They’re also a really great bunch and we get along brilliantly whether in the office, on the football pitch or out socialising at one of our regular get-togethers.
I want every member of my team to find their work interesting and inspiring, have the freedom to innovate, the support they need to bring their plans to fruition and the contentment of having their achievements recognised and rewarded.
Every single member of my team is exceptional and genuinely focused on making something great, which is why we’ve managed to do so much with so few. I think the knowledge we’re achieving big things makes coming to work exciting.
They need to enjoy their work, feel comfortable and confident and get along with their colleagues. I believe the workplace and culture I’ve created helps to facilitate this.
We’ve recently moved to a 19th century castle, so our office itself is quite impressive. Each of my teams have their own open plan office that they’ve designed and decorated as they see fit. Work is still in progress in some of the rooms, with a mini putting-green soon to be installed in the marketing office!
I’m also a firm believer in rewarding exceptional work – in 2014, each member of my team was given a bonus which totalled a minimum 45% of their annual salary. Some may say that is excessive; however, we wouldn’t be attracting 2.5 million site visits per month without pulling together and working hard as a team. I can’t wait to see what lies in store for money.co.uk as we continue to better ourselves and expand.
For further information please visit: www.money.co.uk