County Durham-headquartered property, housebuilding and mining firm the Banks Group has been recognised as one of the UK’s top-performing private businesses in a major national business excellence initiative.
Banks has been named as a winner in the inaugural UK Best Managed Companies programme, which is run by global advisory firm Deloitte and which aims to shine a spotlight on private businesses from across the UK and the exceptional performance that drives them.
The programme is judged on four key business ‘pillars’ – strategy, culture & commitment, capabilities & innovation and governance & financials.
It ranks entrants against a range of global benchmarks for success and ask them to demonstrate their superior performance over the past three years in relation to their peers.
As part of the assessment process, a Deloitte team visited the business’s Meadowfield headquarters to run an executive team workshop which focused on the strategic growth of the business and the factors that made it stand out from other programme entrants.
This latest success follows Banks Group gaining both a gold level accreditation from Investors In People for our performance in people management and the highest level of accreditation – ‘Maintaining Excellence’ – in the Better Health At Work Awards health initiative.
Harry Banks, chairman and chief executive of the Banks Group, says: “It is very rewarding for all of our people to be recognised as one of the UK’s top managed private companies.
“Even as we approach our 50th anniversary next year, continuous business improvement remains at the core of our operations and there are already a range of plans in place which help to support this ongoing process and demonstrate the quality of the workplace culture we provide.”
Harry Horrocks, group finance director at the Banks Group, adds: “Seeing the North East so well represented in this list is due reward for the ambition and forward thinking that characterises the regional business community.
“It provides an excellent platform on which we, our fellow award winners and other North East firms can now look to build.”
Deloitte’s Best Managed Companies awards programme is already established in over 45 territories across the world, and recognises top private companies for their organisational success and contributions to their industry and the economy.
Nick Hobdey, group HR director at the Banks Group, says: “This is a fantastic achievement for our business and testament to the quality of our culture, the excellence of the work we deliver and the colleagues that deliver it right across the business.
“The Best Managed Companies programme goes into huge detail around all the different aspects of entrants’ business performance, strategic approach and company culture, and to have our work in all these areas graded so highly is extremely satisfying.”
Claire Evans, Deloitte Private partner and UK Best Managed Companies leader, adds: “The Best Managed Companies programme celebrates the passion, resilience, and focus on sustainable growth that are hallmarks of the UK’s leading private businesses.
“These businesses are purpose-driven, disciplined, and industry-leading. They are confidently navigating the future and setting an inspiring standard for success among private businesses in the UK.”