BBB AR 2020 Banner image Our People

Strategic report

Our people

If the British Business Bank is to deliver on its mission to make finance markets work better so smaller businesses across the UK can prosper and grow, it needs the right people – committed colleagues with appropriate expertise and experience, and the ability to work collaboratively and creatively to put in place interventions that address market weaknesses.

To attract and retain the right people, our aim is to continue to make the Bank a great place to work, where colleagues bring their whole selves and do the best work of their career. In doing so, they can deliver the best experience for businesses, our delivery partners and other stakeholders.

In 2018/19, we devised a multi-year people strategy to deliver this aim. This was in response to the Bank’s rapidly evolving structure, and also in recognition of the Bank as an increasingly mature, sizeable and complex organisation. Even before the Covid-19 pandemic, we were becoming larger and more multi-faceted, so strengthening and building on the essence of what it’s like to work for the Bank became more important than ever.

Our people are able to operate in both private and public spheres, and can cross disciplines to respond to the wide range of issues we are asked to address. This dynamic is underpinned by a strong sense of purpose, passion for the work, cross-team working, adaptability, and collaboration with stakeholders.

Our people strategy works through three strategic pillars:

  • Culture and engagement: by enhancing our corporate culture and workforce engagement, we create the right working environment for colleagues to succeed
  • Leadership: by embedding the behaviours we expect to see, we empower and develop our people, to lead the organisation into the future
  • Reward and recognition: by valuing our colleagues in the right way, we engender a culture of high performance aligned to our mission and purpose.

These pillars are further supported by our policies and activities under diversity, inclusion and belonging – including corporate social responsibility.

The following section describes the highlights of the initiatives we carried out under the above pillars in 2019/20, during which our people strategy focused on creating a more consistent and common understanding of our values, behaviours and purpose. As Covid-19 emerged, we rapidly shifted our delivery emphasis, ensuring colleagues could work safely and effectively through the crisis.

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