Last year, we offered all our leaders and top performers the opportunity to sacrifice 20% of their salary in exchange for a share of the firm’s profits. We are delighted to announce that those who opted into the scheme are about to receive a 54% return on their investment! For every £1 of salary sacrificed, they will receive £1.54 back. This is on top of the usual performance-related bonus. And we’re pretty damn proud of that…
We’ve always stated very publicly that we are building a firm of entrepreneurs. Many find that curious as (with the exception of the partnership), our team are all technically employees. However, we firmly believe that being an entrepreneur is a state of mind, not a job title. And it’s a state of mind that we want every single member of our team to have.
It struck us that the single biggest thing entrepreneurs are able to do that traditional ‘employees’ struggle with is take financial risk. We wanted to find a way to offer our team the opportunity to access the risk-reward aspect of being an entrepreneur, and prepare them for the reality of joining the partner team. Being an Elixirr partner means 100% of your salary is at risk against the value we create together in the market. Entrepreneurs only receive value if they deliver value.
We are so excited to be welcoming new faces to the team every week. More exceptional people who really believe in our vision. People who join us because they want to be part of building a firm, not just working for one. We continue to expand in the US as the market responds well to our approach. Our success is testament to the quality of our people, and our clients – we’re doing some amazing work together.
Elixirr Founder and Managing Partner, Stephen Newton, said:
“Many people think we’re mad when it comes to building a firm of entrepreneurs! They wonder why we actively encourage our team to explore their entrepreneurial desires, like Sanjeev is doing with we:bo for example. But we’re strong in our belief that deeply embedding an entrepreneurial mindset will deliver more and more value to our firm, our team – and most importantly, for our clients.
We’re really excited about Elixirr’s future as we build our business together, and I couldn’t be prouder to share its financial success with our team.”
Following the success in its first year, we will be offering the salary sacrifice scheme to our leaders and top performers again for the year 2017-18.
We’re continually challenging ourselves to change the game in consulting, and this is just one of the ways we are doing it. There’s much more to come, so do stay tuned and watch this space…