Provident Financial Group


Established in 1880, Provident Financial Group (PFG) is one of the UK’s leading suppliers of personal credit products to the non-standard lending market. A FTSE 100 company listed on the London Stock Exchange, PFG have over 3,750 employees serving 2.4 million customers. Due to a changing service proposition and advancement in loan processing technology, PFG embarked on a major programme of change across their UK wide network of administrative offices and looked to Renovo to support their Colleagues.

Company Information


Sector: Financial Services
Location: UK multiple sites
Employees: 3,750
Revenue: £1.1 billion


The challenge

The restructure was phased over a number of years and impacted Colleagues at a range of levels, spread over more than 50 locations across the UK. The needs of the population were diverse with a very high proportion of long serving employees who had very limited exposure to the external recruitment market. Many of those affected came from roles that were very specific to the internal loan processing and administration processes at PFG and needed to clearly identify and articulate transferable skills in order to find new opportunities quickly. Levels of IT literacy were relatively low amongst the population with a very small number of Colleagues having used email or Microsoft Office in their day to day roles.

The solution

Renovo worked closely with the Provident HR Team to build a Two Tier Programme structure with enough flexibility across those two programmes to support the entire population over the lifetime of the project. All Colleagues had personalised support from one Coach throughout their entire journey with support typically being spread over a 6 month period and delivered on a distance basis. Support could be provided regularly and in manageable amounts at a pace that was right for the individual and could adapt to their journey over time. The Coaching team supported each Colleague with accessing the online resources and webinar programmes leading to levels of engagement with the online resources in excess of 70%.

The results


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Average days to resettlement

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94% of participants rated their Coach as ‘Excellent’ or ‘Very Good’

What Provident Financial said


“We’ve worked with Renovo to support colleagues through some sizeable change programmes over the course of the last three years. Throughout that time, we’ve developed a strong working partnership and there is no doubt that we would look to them first to provide support to any colleagues impacted by change within the business”

Sarah Hamilton
Colleague Relations and HR Policy Manager

Provident Financial

What participants said


“So I just wanted to say thank you for all your help, you’ve provided an excellent service and it’s done me the world of good!! So thank you so much from the bottom of my heart!”

Suzanne
Administrative Clerk

“I have accepted a new job! It is a different career path for me and it would not have been possible without your coaching.”

Keith
Development Manager

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Average days to resettlement on our outplacement programmes