Bipsync UK is based in Cardiff and has 16 employees. Founded at Stanford University by a former hedge fund research analyst, Danny Donado, the company set out to create an alternative to the inefficient, complex and inconsistent research processes and technologies in the investment industry.
The team quickly grew and combined investment management knowledge, software development expertise and rich UX design experience to create a new approach to research management technology.
Whilst already committed to fostering a diverse workforce and an inclusive culture, Bipsync UK joined the Business Programme to ensure their internal processes were not restricting access to development and recruitment opportunities. Specifically, this meant working with Hannah Botes, Employer Partner, to support the introduction of a new performance management system and to review its recruitment processes - ensuring equality and inclusion were at the heart of any proposed changes.
As a result of their hard work and commitment to equality, the Bipsync team received our ‘Leading’ FairPlay Employer award.
The business areas we worked on
Performance Management
Senior Managers attended a best practice in performance management workshop to improve their understanding of the process and ensure they were consistent and fair in their approach. Following on from the workshop, the business has developed and implemented a new Performance and Development Policy. The new system comprises of two parts: a formal annual review and secondly an information peer-to-peer networking process. Bipsync UK’s values are reflected throughout the process. The whole system is set up digitally, allowing for prompts, notes and documents to be stored and accessed by the staff member and their direct line manager.
Bipsync UK has also introduced a mentorship programme to support new and existing employees within the business. A learning and development section has also been added to the performance management policy to ensure they link together and support employee opportunities for progression.
100% of the workforce are able to work flexibly, with the ability to work from any location. The new system has been adopted company wide and the hope is that with combining peer feedback with an annual manager review, the process will become more efficient and foster an open working environment to ensure individuals and teams perform to the best of their ability and develop their potential.
Recruitment and Selection
The existing recruitment and selection policy has been updated and includes the flexibility of Bipsync UK’s work patterns as well as fairness within the recruitment process. The policy already reflected a robust process with selection criteria for shortlisting and interview. The business had struggled in the past with gaining female applicants, for example and now ensures they include business benefits in adverts that serve to attract applications across a larger pool of qualified candidate. Bipsync UK also works with Cardiff University offering placements and other opportunities, while additions were also made to policies to ensure staff who are temporarily out of the business on parental leave are notified of new openings in the business and are encouraged to apply for them. The business also runs its job adverts through a gender decoder to ensure that the wording is inclusive and promotes applications for a diverse pool of candidates, particularly from female applicants.
The gender equality outcomes
By actively promoting the flexible working culture and benefits such as enhanced parental leave and unlimited vacation policies within all job adverts, potential female applicants can find a welcome home at Bipsync UK.
Bipsync empowers its staff to deliver results in the best way they see fit. This means that employees have full flexibility in terms of their location and time management. By placing a strong focus on the health and well-being of their staff and encouraging them to take responsibility for their workload, Bipsync UK aims to keep everyone at the company motivated, engaged and productive. This has been further enhanced by changing the learning and development processes and giving fair access to development opportunities for females within the company.
Whilst ICT is notoriously a male dominated sector, the steps Bipsync has taken will encourage more female applicants to apply and/or return to the industry and help ensure female employees remain within the business for a long time.