Annual Impact Report 2023

Annual Impact Report 2023
Profit
Commercially the business faced some unprecedented challenges during
2023. Following a modest start to the year, we experienced a drop of income
in Q2 and Q3 as the growing cost of living crisis and an unexpectedly high
level of turnover in our fee-earning team impacted our new business pipeline.
Coupled with significant investment into a brand and website refresh, we
ended the year unprofitable.
We faced into our financial strain in September 2023, reviewing our business
model and restructuring our team. As a result of this our income began to
recover steadily in Q4, and this continues into Q1 2024.
Throughout these changes we kept in regular consultation with our team,
maintained a market-leading NPS of over 50, and continued to deliver some
of our most impressive appointments to date across the globe.
Now on a financially healthier footing, we have got our costs fully under
control and have plans on track to build and sustain our client portfolio,
laying the foundations for a commercially successful and sustainable 2024.
Section 2
2023/24 Income
The Society Foundation is an independent charity we helped to set up. We fund
it with an annual donation equal to at least 10% of our profits. It then gives grants
to organisations that help vulnerable people back into paid employment. The
beneficiaries it seeks to prioritise include the recently homeless or vulnerably housed,
ex-offenders, and 16-24 year-olds not in employment, education, or training. In
2023, The Society Foundation received £16,464.50 from its 2022 profits.
Q1
Q2 Q3 Q4 Q1
£16,464.50
2023 2024
The Foundation has this year awarded four grants to deserving organisations.
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