Leek Building Society

Staffordshire-based Leek Building Society appointed a new CEO who started in August 2024 with a newly formed executive team. It was a time of change, as other banks closed amid difficult economic challenges, and the organisation knew it was vital it brought its people along with it on the transformation journey. 

The resultant people strategy had a three-pronged ethos: best people; best culture;  best working environment. To ensure the company attracted and retained the best people, the team maintained wages despite rising costs, improved internal communication via podcasts, bulletins, digital screens and CEO/executive emails, and offered a range of benefits, from performance pay, health screenings worth up to £641 per person and unlimited access to dedicated psychologists for staff and family. 

It also introduced paid grandparent leave, enhanced maternity, paternity, adoption and shared parental pay and support for pregnancy loss and neonatal care, and strengthened its EDI focus. It introduced an annual review of succession plans for senior leaders and specialists, developed an in-house leadership programme and CMI-accredited Aspiring Leaders programme, and enhanced the onboarding experience with a CEO letter, induction day, gifts and executive messages. Staff are now recognised through regular ‘Living Our Values’ awards. 

The mammoth effort paid dividends: the building society achieved a record-breaking financial performance in 2024, with total assets reaching £1.37bn and gross mortgage lending hitting £227m – 25 per cent of which supported first-time buyers. Furthermore, in 2024 it achieved more than 98 per cent customer satisfaction and received top-quartile risk ratings, reflecting the broader impact of the people-focused strategy. The organisation was ranked eighth Most Inspiring Workplace in the UK & Ireland, and among the global top 100, outperforming brands such as Aldi and H&M. Its wellbeing approach has led to consistently reduced absence rates, defying national trends, and was featured on ITV’s Tonight programme.

The PMAs judges said Leek Building Society “was the clear winner” in this category, describing its work as “outstanding”. “It has gone above and beyond in developing a culture that makes employees proud to work there,” the judges said. “This small HR team punches well above its weight.”