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Leveraging the Millennial Baby-Boom

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Leveraging the Millennial Baby-Boom

                 

Just a few of our peoples, little people.
Just a few of our people's... little people.

CV Partner is a young and innovative SaaS business with many of employees falling into the millennial category. As a fast-growing business, we are regularly hiring new people, who can take 4 to 6 months to get to full productivity.

Like most SaaS businesses in the ‘Scale Up’ phase of development, we are heavily dependent upon our highly skilled people. It could be seen as a challenge when one of our people announces, ‘We’re going to have a baby!!’. After the jubilation and delight comes the inevitable question, ‘How will we cope without you for 3 to 15 months?’  

As part of developing our approach to Environmental, Social &Governance (ESG), we have taken a decision, not to see this as a challenge, but instead to see it as an opportunity. As part of our approach to ‘Social’ aspects of ESG, we believe ensuring that our people (and their little people)have the best start in their life journey. This is just as important as developing our business.

Here are just some of the opportunities we see…

 

Opportunity 1 – We can hire more people

We grow on average ~40% each year. To grow even faster we hire new people as soon as we can afford them. What controls when we can hire new people is our cash flow - when we get new customers, we get more cash, and we can hire more people. The cost also increases every time we hire a new person, and in the periods of time where we don’t hire - the costs stay constant. However, when a person is on paternity/maternity leave in many of our countries the cost for the company is reduced, sometimes significantly. This frees up cash, which means we can make a new hire sooner. By the time our person on leave returns, our revenue has grown and caught up with the costs.

Opportunity 2 – We can share knowledge

In the run up to the period of maternity/paternity leave, we have an opportunity for our people, who have agreed to support the role during the period of leave, to get a greater understanding of a different role. They can take a fresh look at how things are done by others and experience for themselves the challenges their colleagues have become used to. This also provides future flexibility in the way our teams work together.

Opportunity 3 – In-house development

We have found that many of our people are interested in a change in role, when they return from a period of maternity/paternity leave. As we are a fast-growing business, keen to retain our excellent people, we always try, where possible, to enable this change in role to take place. If not immediately, then within an agreed period.

Over and above these opportunities, CV Partner always aims for fair maternity/paternity provision and encourages a flexible and phased return to work to help fit around new family life. We understand that our people’s little people, sometimes get sick and need their mum or dad to work from home to be with them. That’s life… we get it… so that why we see the opportunity, rather than the challenge. This is an important part of our developing ESG.

Learn more by contacting CV Partner