Getting the balance right - Isle of Man Today

20 Business updateIsle of Man Examiner, May 2005SPOTLIGHTGetting it rightFairbairn Private Bankcame 85th in this year’sSunday Times list of thebest 100 SMEs to workfor in the UK, largely dueto rating in the top 12 forwork-life balance with 76per cent of staff happy.This is an impressiveachievement and a firstfor an Isle of Manbusiness, so BusinessUpdate spoke to GregHorton, managingdirector of Fairbairn, tofind out just what it is heis doing right.What policies and benefits do youhave at Fairbairn that haveencouraged your staff to be sopositive about their employer?We have a non-contributory pensionscheme, flexible working hours, healthcarefor the staff and their families, parkingspaces for staff and free tea and coffee. Wealso have a dress down day once a weekand a social committee that organises twobig events every year (summer ball andChristmas party) and quarterly eventsaround that. All are heavily subsidised bythe company.Overtime is optional and we do allow staffto take unpaid leave as long as they give usplenty of notice. We have had staff go off toAustralia for five months and then comeback, but it has to be life-changing stuff,not just to party in Majorca!It’s in the little things, if a member of staffsays they want to go to the dentist, a lot ofemployers would say ‘tough luck, go in yourown time’, but we try to adopt a flexibleattitude.What do you believe is moreimportant to your staff — time ormoney?We have done a survey and money isimportant but never top priority. Thepriority seems to be more recognition forAWARD WINNER: Greg Horton (right) of Fairbairn Private Bank collects the Sunday Times awardwhat they are doing, flexibility also featuresvery highly. We have a high proportion ofwomen working here and they havedifferent life demands than the men, withchildren and families. Money usually comesin the top three but is rarely priority one ortwo.Why do you think you did so well inthe Sunday Times list?I got an overwhelming response from thestaff of both Islands (Isle of Man and Jersey)when I asked if they would like to enter,they said they would love to do it. Theactual placing is based 80 per cent on whatthe staff say about the business and 20 percent given to what the business says. Themotivation comes from the pride that Iknow they feel in the business.Do you feel you do much more thanother businesses in the Island interms of work-life balance?I think the most noticeable thing we get iswhen we interview potential new staff.I ask why they have applied here andpeople say we have heard so much aboutyou and I know somebody else who worksfor you. It’s an environment they want toget into and by definition that means theyare probably not in that environment at thetime. We rarely lose any staff tocompetitors.■ A DUTY OF CARE: What employersshould be doing to protect the health,safety and welfare of their employees — p27Best Offshore Bank3 Years RunningFor the third year in succession, we have won the highly coveted award for ‘‘Best Offshore Bank’’at the International Investment Offshore Fund and Product Awards.The independent panel of judges found that Fairbairn Private Bank ‘‘continues to be afront-runner across the board in private banking’’.If you would like to find out more about our award winning rangeof wealth management products and services, please call0800 289936 or+44 (0)1624 645000 quoting ref. IOMBUor visit www.fairbairnpb.comFairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited. Fairbairn Private Bank (IOM) Limited islicensed by the Isle of Man Financial Supervision Commission to conduct Banking and Investment Business and its principal placeof business is in the Isle of Man.Fairbairn Private Bank - for a distinctly different approach