LV= (London Victoria) has nearly tripled its workforce from 2,000 employees in 2007 to 5,600 in 2012 and now insures one in 10 cars on the road.
“Primarily, we do everything possible to make sure we recruit the right people, reward them correctly, train them well and develop them constantly,” Smith says. “From that important baseline, we have a very open and honest approach to communication with our employees.”
“Recognition and reward of achievement and fantastic service is part of everyday life at LV=, from the smallest ‘thank you’ and encouragement via an e-card, through to high-profile winners of our company-wide recognition scheme,” Smith points out.
The idea of reward and recognition is also embedded in senior leaders’ brains through training and development activity. Each year, the firm holds a ‘People Leaders’ Conference’ aimed at developing 450 of them taken from across the company. The goal is to provide them with the tools required to support and motivate their teams.
“Enabling our leaders to look outside of LV= is equally important and our recent ‘Connect’ programme allowed senior managers to go behind the scenes in other ‘best-in-class’ organisations to understand best practices in areas such as customer excellence and business culture,” Smith says.
Tower Watson’s recent Global Workforce Study, which warned of “Standstill Britain”, called for employers to make an effort to re-inject confidence and creativity into their workplaces, after economic stagnation had stymied employee innovation and career advancement for many.
“We have a great many opportunities for our people to progress to the next level in their role, to work on secondment in another part of the business and to invest in themselves through training and development, which is available to them in a variety of ways such as e-learning,” Smith explains.
Each of these initiatives is also supported by the firm’s internal magazine and intranet site, to which senior leaders often post blogs.
“We work hard to create an open and honest culture, where ideas are welcomed – in fact they are actively encouraged,” Smith points out. “Questions can be asked of the leadership at any level, even including a regular, anonymous online forum.”
The company endeavours to ensure that the entire workforce understands the strategy and goals of the business as a whole as well as the part that each individual plays within it in order to foster a feeling of ownership.
So-called “Viral Change” is another less traditional mechanism that is also employed to communicate change, however. “This is a small set of behaviours spread by a small number of people through their networks of influence to create massive behavioural tipping points, translated into new routines and ‘cultures’,” explains Smith.
The company’s “My Ideas” crowdsourcing system likewise provides personnel with a means of suggesting ideas for possible new ways of doing things, before they are put up for review – and often implemented and rewarded.
The idea is that, through its combination of open communication, clear staff development activities and generous reward programme, LV= hopes to continue expanding its business by keeping staff motivated – even if the wider UK economic outlook continues to appear increasingly fragile.