South West accountancy and wealth management firm Old Mill has announced an ambitious five-year growth plan including an aggressive recruitment campaign that will double staff numbers to more than 600 by 2026.
Old Mill, which currently employs 320 people from its four offices in Chippenham, Exeter, Wells and Yeovil, has undergone a major restructure which brings all aspects of the business together into a single multi-service advisory firm.
A new structure and streamlined board will enable faster decision making and clarity of leadership to help enable Old Mill achieve ambitious growth plans of 15% growth per annum for the next five years to become the fastest growing professional practice in the West Country.
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Kevin Whitmarsh - currently head of accountancy - has been appointed in the new role of chief executive while current managing director Ian Carlson becomes chief finance officer. A new chairman and two non-executive directors will also be appointed to provide external leadership and management support.
Old Mill’s "open door" policy will continue, meaning talented, hardworking people who share Old Mill’s "people-centric culture" will be welcomed into the firm - with all staff able to choose between home, office or hybrid working - while trainee intakes will now take place twice a year - in March and September.
Old Mill's career development culture will be enhanced further under the new structure as it opens up more opportunities for people within the business and makes it easier to introduce new shareholders, both via internal promotions and through external appointments.
There will also be greater financial rewards on offer to help attract and retain talent, and the potential for external candidates with established teams to collectively join Old Mill.
Emma Coleman, head of recruitment at Old Mill: “The key to our growth is expanding our already fantastic team. Each September, we have always had a big recruitment drive for school leavers and graduates to join our trainee scheme and have now added a second date in March to help support our growth.
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“We also have an open-door recruitment policy, which means we are always happy to bring in good quality people, particularly those at senior level, to bolster our expertise, and would consider bringing in an entire team if the fit was right."
Staff at Old Mill already receive a range of benefits, including a bonus scheme, an extra day’s holiday for their birthday and cash valued WOW points for doing good things and has a flexible working policy which means staff can choose whether they work permanently from home, are fully office based, or a mixture of the two.
Old Mill also runs social events, and each office has a "head" whose role is to encourage collaboration and engagement amongst the teams and support Old Mill’s work within the community.
Old Mill offers staff, support in terms of career progression, including running a "buddy system" where more senior, experienced members of the team support junior staff in their development. This is in addition to offering that all important funding for professional training and exams.
Old Mill also has a history of giving back to communities. Last year saw the launch of the Old Mill Fund, a dedicated home for our charitable giving. The fund makes grants to grassroots good causes across Somerset, Devon and Wiltshire, so staff can see their efforts making a difference in the communities where they and their clients live and work.
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Business Live's South West Business Reporter is William Telford. William has more than a decade's experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
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Kevin Whitmarsh, chief executive of Old Mill, said: “The wellbeing of our staff is hugely important. We know that they want to feel a part of something that they care about, they want a healthy work/life balance, to be recognised for working hard, and they want the opportunity to be able to support their local communities.
"Under our new structure, with our new growth plan in place, staff will be able to progress even quicker, with greater incentive programmes for those who help drive growth, but there will be no pressure to return to the office, meaning staff can work from where they like, enabling us to ensure our people feel happy and valued at work, and are rewarded for the part they play in Old Mill’s exciting and ambitious journey.”