The power of internal growth: nurturing talent for success
In our latest thought leadership, we explore Altum Group’s innovative approach to internal growth and how it’s shaping the future of talent management in the fund administration industry.
A paradigm shift in performance management
Altum Group has transformed the concept of performance management by moving away from the conventional mid and end of year review processes. Instead, we have embraced a continuous feedback model that fosters ongoing discussions on strengths and development areas throughout the year. Our progressive approach keeps employees engaged, motivated, and aligned with the business goals, paving the way for remarkable skill enhancement.
The 9-box assessment: elevating evaluation to new heights
Quarterly evaluations at Altum Group aren’t just about assessing performance; they’re about measuring potential too. Our 9-box assessment involves input from department and functional heads, as well as our highly experienced senior executive team. By gauging performance against potential, it enables us to craft tailored development and training plans targeted at each employee. This data-driven strategy ensures that growth trajectories are finely tuned to individual strengths and aspirations.
Fostering future leaders
Stemming from our CEO’s vision and business strategy, we are commitment to cultivating talent that extends beyond the present, this is evident in our robust succession plan. Identifying and nurturing future leaders within the business is a cornerstone of our strategy. By addressing the skill gaps and presenting growth opportunities to deserving individuals, we not only strengthen our talent pipeline but also ensure a seamless transition when leadership roles become available.
Championing employee values
Recognising that employees are the company’s most valuable asset, we have woven a culture that celebrates our peoples contributions. An internal recognition program, competitive compensation benefits packages, and a shared ownership model all reflect our people centric ethos. Our dedication to promoting from within further underlines the value we place on our people.
The Gen Z approach
Talent management isn’t a one size fits all approach, and the evolving dynamics within the employment market mean businesses need to have agile practices and adapt to the ever-changing needs of a dynamic and growing talent pool. This is particularly relevant when it comes to the GenZ population. Here at Altum Group, we have spent a considerable amount of time getting to understand their needs. This has resulted in the newly created Graduate Accelerator Programme, which offers a full rotation across various departments in the business, as well as mentoring schemes, tailored training and development plans, committee membership and exposure to some exciting project work. This population have high expectations and that’s something we plan to deliver on.
Promotions with purpose
We like many businesses have a bi-annual promotion process which is a testament to our commitment to talent development. Over 20% of our workforce received promotions this year, recognising their exceptional contributions. This practice not only boosts morale but also contributes to our remarkable 95% retention rate.
We have employees who have been with the business for a decade or more; which is a testament to the investment we make in creating an environment where people can build long lasting and rewarding careers. This July we celebrated a 21-year work anniversary in our Jersey office. Understanding what motivates people is key to enabling us to provide our employees with meaningful opportunities.
Altum Group’s vision for the future
In an ever-evolving business landscape, we stand as a trailblazer in nurturing talent from within. Our dynamic approach to performance management, comprehensive assessment methods, and unswerving dedication to employee growth reflect a vision that extends beyond individual success. Our commitment to internal growth isn’t just about shaping careers; it’s about sculpting the groups future, one talented individual at a time.
Unleash Your Potential with Altum Group. Carve your path to success, contact our HR team to explore some of our thrilling career possibilities!