In the same week that the firm celebrates National Apprenticeship Week, Price Bailey received the award due to incredibly high levels of employee engagement.
The company was notably recognised for its family-friendly credentials and work-life balance. As well as the firm’s ‘Smart Working‘ policy, which has been in place for several years, even before the pandemic, and enables staff to work flexibly, the company offers school hours contracts to all staff and enhanced maternity pay. A good work-life balance is vital at Price Bailey. Price Bailey added circuit-breaker days during the pandemic, giving its team extra time off to recognise their hard work and commitment. The firm’s IT systems were completely shut down to ensure everyone had a proper break from work.
The firm also excelled in staff retention, with over 40% of the workforce working there for more than five years. Staff retention is taken very seriously, and the firm has several schemes to ensure they retain the best talent.
Everyone at Price Bailey is invited to join the employee share scheme once they have completed 12 months of service; this gives them a stake in the business’s success and recognises the value of their contribution.
“We aim to be the best in the world at building trust and providing support that creates value to all.”
Price Bailey was founded in 1938 with one office in Bishop’s Stortford and a single partner. Today it has 30 partners, with locations in London and East Anglia, and a strategic international presence.
In recent years, Price Bailey has demonstrated an ongoing commitment to Access Accountancy, aiming to broaden access to the accounting profession. The company’s PB Inspires initiative works with local schools to develop the next generation of employees from disadvantaged backgrounds; it also develops staff leadership skills.
Commenting on the firm’s culture, Martin Clapson, Managing Director, who, through choice, retained a client portfolio to ensure he maintains an understanding of how the firm’s systems and procedures said:
“We work within a culture that is open and inquisitive to new ideas, one that embraces change. We empower our people to challenge the norm and to look for opportunities. We want everyone to feel fulfilled in their role and to understand their contribution to the service we deliver to our clients.”
While Price Bailey takes its culture very seriously, that’s not to say Price Bailey’s senior leaders take life too seriously. Some can be found with their heads and hands in stocks on charity day, facing a barrage of wet sponges. Giving back to the community, the firm donated laptops to schools in 2021 and provided two paid leave days for employees to participate in voluntary work.
This week the firm is also celebrating National Apprenticeship Week. Price Bailey has many trainee accountants, taken on as apprentices and graduates. Staff are encouraged to return to their old schools or universities to promote the firm.
Commenting on their commitment to their apprenticeship scheme, Human Resources Partner Nadia Khan said:
“Price Bailey is proud to be an employer that utilises the apprenticeship scheme and gives young people a head start with their careers. It is fantastic to see them grow and develop as they work towards a professional qualification, whilst also benefitting from on the job training under the guidance of our experienced senior members of staff. We also really value the concept of upskilling our existing workforce and have seen tremendous benefit when our people have continued studying later in their careers.”
Price Bailey will find out its regional and sector list positions on 18 February 2022 at a virtual award ceremony held by Best Companies.