Specialist technological PR agency Stone Junction was established in 2016, at which point founder and managing director Richard Stone created a system of clearly defined, personalised objectives for each member of staff. This system allows employees to progress through salary scales and gain promotions by achieving set goals.
As a result, over the last 12 months there have been seven internal promotions and 86 salary increases among Stone Junction’s 22 employees.
In addition to this goal-based system for remuneration, the organisation offers those employees with a tenure of more than 12 months a fund that they can spend on any benefit they deem valuable.
Stone Junction has a workplace pension scheme that adheres to government regulations, but employees are welcome to use their benefits fund to top up their payments. They can also access the pot to pay for other traditional benefits, such as life assurance, as well as more individual perks, such as childcare, gym memberships and household appliances.
Stone explains: “The amount available grows incrementally for each year spent with Stone Junction, and it can be spent on anything, from additional leave and gig tickets to Gucci belts and new sofas.”
A monthly competition, Getting Ink, also awards the employee who generated the most press coverage for clients with increased funds for their benefits pot.
“It would be easy to just provide these funds as additional bonuses, as well as the existing annual performance bonus of an extra month’s salary,” says Stone. “However, this does not address the fact that people are more than numbers. Offering a benefits package that can be accessed as and when required for things that are needed, or enjoyable, supports staff in feeling understood and valued.”
When employees join the organisation, they receive a handbook and have a personal meeting with Stone, to ensure all benefits are clearly explained. Individuals also have scheduled one-to-ones and evaluations throughout the year to monitor performance-related salary increases and review other perks.
Another financial benefit Stone Junction provides for all staff is an annual study bursary for topics unrelated to work, such as pottery and photography. This aims to boost their personal development, aid a healthy work-life balance, and allow staff who have relocated to build positive relationships outside of work, without impacting their finances.
Stone concludes: “We have a relatively young and mobile team at Stone Junction. The training bursary and the flexible benefits package have supported several people in learning new skills, meeting new people and even moving house.
“It’s important that people feel they can achieve both professional and personal goals to create a workforce that is content and motivated.”