Balmoral picked up the Staff Matter award at this year's Northern Star Business Awards. and were presented the title by sponsors Gary Walker Wealth Management.
Balmoral is a renowned leader in buoyancy, protection and insulation products, known for providing technical expertise and a rich history of delivering cutting-edge solutions across industry sectors.
It employs a team of over 300 across facilities in Aberdeen, an office in Glasgow and a manufacturing site in Newcastle.
In 2022, after conducting an in-depth internal survey in collaboration with Investors in People, Balmoral undertook a transformative shift in its employee development.
An Employer of Choice Working Group was established to lead the initiative, whose mission was to make Balmoral a preferred employer by improving talent management practices.
Ten months after it launched, Balmoral saw significant improvements with a profound impact on its business, including an improved retention rate.
Key changes included the launch of an intranet that streamlined communication, a benefits portal, a social committee and a long service scheme.
Managing director Bill Main also addressed the firm’s first company-wide town hall meeting and the firm now plans to hold similar events twice a year.
The company has also reinstated its leadership academy which had been temporarily sidelined due to the onset of the CV19 pandemic. It has since recruited an HR professional with the expertise needed to implement a competence framework for the scheme.
The improvement in retention rate is underpinned by its appreciation of several employees who have worked in the business for over 20 years. One of the group’s leaders recently retired after 37 years with Balmoral and another colleague is currently in their 24th year with the business. Balmoral said 35% of staff have been with the firm for more than 10 years, while over half have been with the business for more than five years.
The Finalists
- Appetite for Business
- Bancon Group Ltd
- Mackie's of Scotland
- MRS Training & Rescue
Click here to view the finalists videos.
About the sponsor
Gary Walker Wealth Management was established in 2004 and has since become one of Aberdeen's most reputable wealth management companies, providing expert financial advice and putting clients firmly at the centre of everything they do.