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Staff at Source Insurance never need to worry about making their voices heard – the company takes feedback through huddles, scrums, emails, surveys, face-to-face chats and even Post-it walls.
This culture of collaboration and transparency also sees directors and senior managers drop in on team huddles and make calls to people outside their usual line management.
During the pandemic, the Cardiff-based insurance intermediary sent a daily Newsflash email, with fun updates, staff celebrations, images of colleagues working from home and supportive tips. This was supplemented by regular emails from the managing director.
All staff continued to work throughout the pandemic – furlough was not used – and Source is now introducing a 50/50 split between home and office working for many of the team. The company is looking at introducing a four-day week.
Employee benefits include a bonus scheme, with the quarterly payouts determined by the business's performance. A new rewards scheme, to replace the current Compliments system, will allow staff to build up gratuity pots through nominations from colleagues.
Much has changed in the 28 years since Source was launched to give financial advisers easy access to insurance products, yet the industry still issues a large amount of paperwork. To be kinder to the environment, Source tasked a working group with compressing its 32-page new business pack into a four-sided insurance policy overview pack, known internally as an iPOP.
