Punter Southall Aspire – Responsible Business Champion: Age

Manage the Gap – a strategy to improve inclusivity and diversity

The Age Friendly Employer Award

Punter Southall Aspire has doubled its workforce in the past 18 months. Its ‘Manage the Gap’ initiative champions inclusion and diversity across its growing multi-generational workforce – contributing to a more harmonious and productive business culture.

Different generations are likely to have different skills, assets and attitudes towards work and how companies manage these differences will be critical. These challenges will also bring opportunities

Steve Butler, CEO, Punter Southall Aspire

Societal impacts

Punter Southall Aspire is:

  • sharing best practice and insight with clients and the wider financial/pension industry to help them manage all the challenges of a multi- generational workforce
  • establishing a long-term partnership with The Money Charity, which provides education, information and advice on money matters to young people and adults. Punter Southall Aspire sponsored the Student Money Manual, has a staff volunteering programme to support the charity and has embedded some of The Money Charity’s workshops into the consulting team’s financial wellness proposition. To provide top level support, its CEO Steve Butler has been appointed as a trustee to the charity
  • In addition, to support Punter Southall Aspire’s corporate commitment to society and the environment Steve Butler is implementing the process for the business to become a signatory to the United Nations Principles of Responsible Investing.

Business impacts

  • The company is building more diverse and multi-generational teams by replacing the company’s executive committee of eight senior male managers with seven operational committees (OpCo’s), involving representatives from across the business.
  • Participation from female employees at strategy level has increased from 0% to 38%. Female employees said their involvement in the OpCo had increased decision making and boosted their confidence.
  • Building a single, integrated business and culture at Punter Southall Aspire is helping the company move towards its goal of becoming the number one workplace financial advice business in the UK, specialising in retirement services.
  • Punter Southall Aspire was recently added to Renegade Generation’s ‘Leading Age-Friendly Employers’ list, which recognises employers who are pioneering age diversity.

“There’s no question our workforce is ageing. The trends all point to more older workers staying in jobs or returning to the workforce. Employers need to actively manage the needs of all generations to successfully navigate this demographic change. Different generations are likely to have different skills, assets and attitudes towards work and how companies manage these differences will be critical. These challenges will also bring opportunities. Employers will have the chance to turn the changing demographics into something positive for their business and to harness and embrace the different skills, experiences and attitudes of each generation. To manage an age-diverse workforce successfully, organisations need to acknowledge how the mindsets and life experiences of different generations affect how they approach their work and working together. Understanding how to manage a diverse workforce has been key to improving our workplace culture over the past 12 months,” Steve Butler, CEO, Punter Southall Aspire.

TOGETHER WE CAN BECOME PARTNERS IN CHANGE