Firstplus
 
Management Excellence and Business Results
Setting clear targets, measuring performance and celebrating achievement… These are three pillars of a forward-looking management style that has resulted in breathtaking growth and progress for consumer finance company FIRSTPLUS.

The company, now part of the Barclays Group, was set up in April 1997. From a standing start, it now employs over 220 skilled staff who deal daily with a nationwide network of brokers and thousands of retail customers, many of whom are responding to FIRSTPLUS’ high-profile TV advertisements featuring Carol Vorderman.

At the heart of this successful business, which has already taken a major share of the UK market, is the development of a strong team of line managers. They are equipped with the skills and techniques to get the very best performance from front-line staff. Other businesses are now studying these techniques as part of the Inside Welsh Industry programme.

Based on an initial pilot project in 1998, the company has developed a powerful performance management system designed to deliver staff satisfaction as well as business achievement.

Training & Development Manager Helen Middle said: “Everybody works on a set of business objectives and is rated quarterly on a scale of one to five. A score of four represents above average performance; five shows outstanding performance. Our aim is to equip line managers to support staff to regularly exceed expectations.”

Managers attend training covering areas ranging from conducting effective appraisals to sharing good practice between staff, and coaching them in vital skills such as handling difficult calls. They are also given special training in how to support staff members who may be struggling and how to use the stars of the team to raise the performance of those around them.

Helen added: “We want to be the best at everything we do. We are always looking for better ways to do things. For example we hold cross-functional working parties to brainstorm new ideas and this is backed up by a process designed to ensure these ideas are implemented and used successfully."

FIRSTPLUS is keen to utilise the best of the skills and experience of its managers and so has a policy of promoting people from within, wherever possible.

This approach is supported by a strong “succession planning,” system where deputies are given the suitable training and regular opportunities to stand in for their manager. This provides them with the experience and confidence to step up to more senior roles, providing continuity within the business and a key motivation for talented managers.

The company also runs a “High Potential” programme which identifies the managers of the future and puts them through an eight-module preparatory programme. This is proving highly successful – several members of staff who have completed the programme have already been promoted to management roles, most recently IT Helpdesk Co-ordinator, Paul Skippon.

The commitment to developing effective management runs throughout the organisation. Each of the 11 senior managers who make up the management board of the company receives intensive one-to-one coaching.

The fruits of this philosophy are clear to be seen. Sales continue to rise, customer satisfaction rates are running at over 95%, staff satisfaction is well over 90% and, most important of all, the financial results confirm the success of this approach.