PensionBee aims to develop its human resources by offering its employees mini MBAs run along similar lines to Harvard education.
If you’re working for pension provider PensionBee, you’ll have a chance to complete a mini-MBA led by their own CEO.
The 10 week program is led by CEO Romi Savova – who has an MBA from Harvard Business school and is open to all employees. Every week will include weekly reading assignments and group discussions – just like a regular class at Harvard Business School. Employees will be encouraged during these discussions to ‘think like a CEO’ and assess the impact of different approaches to situations using real life case studies from leading brands.
“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,” said Savora. “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.”
So far, around a third of all employees are taking part with people getting involved at all levels of the business. The program is one of several initiatives designed to develop their team. The most high profile of these so far has been the award winning ‘program’ – a two year scheme launched in 2016 to support development in their customer success teams.
It aims to encourage people who would not normally consider personal pensions as a career option to get involved. It does this by challenging misconceptions of what people in pensions are like and do. It aims to break down barriers to entry such as having previous experience or qualifications.
To enter you do not need experience and they will provide you will all the learning tools you need. It means that all team members will start with the same high level of understanding about the pensions industry.
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The company has been quick to reap the benefits. Almost 90% of the junior management team started out in ‘The Program’ as did 31% of senior management.
PensionBee credit this, and other initiatives such as a ‘code club’ in which anyone with an interest in computer programming can receive intensive support from the technology team, with helping them survive the pandemic relatively strongly. While other companies have been forced to make cuts, PensionBee is expanding. Two out of five of its employees have been promoted since March last year.
“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,” added Savora. “Businesses need to support individual progression if we are to create the businesses and leaders of tomorrow, and build workplaces where everyone can thrive.”
Related guide: How to start a private pension