Leading online pension provider, PensionBee, has launched a mini-MBA course as part of its ongoing commitment to staff development. The 10-week course is being led by PensionBee’s CEO, Romi Savova, who holds an MBA from Harvard Business School.
The course is open to all employees, and involves weekly reading assignments and group discussions, in the style of a Harvard Business School class. During the discussions, participants are encouraged to ‘think like a CEO’ and assess the impact of possible approaches, using real-life case studies of some of the world’s most successful consumer brands.
Approximately a third of employees are taking part from all levels of the business, and a range of departments - from Customer Success to Design and Marketing.
PensionBee is passionate about investing in its team and offers various development opportunities. One of its most significant initiatives is the award-winning ‘Program’(1): a two-year scheme launched in 2016 to nurture the Customer Success Team. ‘The Program’ aims to encourage people, who may not usually do so, to enter the pensions industry, challenging the perceptions of what people in pensions should be, and breaking down some of the barriers to entry.
Participants do not need previous experience to enter ‘The Program’, with PensionBee providing all of the learning tools required. This heavy investment in training ensures all team members start with the same understanding of the pensions industry. As of December 2020, 88% of the Junior Management Team started in ‘The Program’ and are now supporting the business across all areas, including Marketing, Operations, Technology, Finance and Risk. In addition, 31% of the Senior Management Team started in ‘The Program’ and one participant is now a Head of Department.
Other initiatives include Code Club, where any colleague with an interest in computer programming can receive intensive support from the Technology Team.
Despite UK workers experiencing a sharp increase in the rate of redundancies due to the coronavirus pandemic (2), PensionBee has expanded its team and continued to invest in their development during this period. More than 40% of the company’s current employees have been promoted since March 2020.
Romi Savova, Chief Executive Officer at PensionBee, comments: “Completing my MBA in 2012 was one of the most rewarding experiences, both professionally and personally, so it’s fantastic to be able to recreate this for the PensionBee team. We have an excellent training programme at PensionBee, but I don’t usually get to take part. So following our recent IPO, I wanted to share my knowledge and empower the team to think like CEOs, applying learnings from the course to their roles at PensionBee.
Through collaborative discussions we can all learn a great deal from each other, and it’s important for all workers to have access to regular, high quality learning opportunities. Businesses need to support individual progression if we are to create the businesses and leaders of tomorrow, and build workplaces where everyone can thrive.”
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Source: PensionBee, June 2021. Number of promotions between 1 March 2020 and 3 June 2021. Number of employees as of 15 October 2020 (the midpoint of the promotion period).