Founded in 2012, Castle Trust is a rapidly growing financial services company offering mortgage and investment products. Since 2014, the company has experienced rapid growth, jumping from 25 to 95 employees, all of whom were located in Central London. In December 2014, the decision was made to relocate the business to a smaller office in Basingstoke.
There were two major issues Castle Trust needed to deal with immediately:
As the company’s reach expanded and HR issues grew, there were serious concerns as to whether it would be able to cope and stay ahead of emerging HR issues and ensure that the level of employment law and regulatory expertise was kept up to date. Failure to do so would potentially result in costly mistakes or omissions, which would have a financial impact on the business. As such, it was paramount that operational capacity and expertise was maintained at a high level.
According to Castle Trust Chief Operating Officer, Barry Searle, there were three options available to the business:
The first option was dismissed as there was uncertainty as to whether even an in-house HR manager would be able to keep up with the regular changes in employment law. The option of retaining a traditional law firm gave the HR function specialist employment law capability, but the hourly cost was too prohibitive.
In investigating the third option, ESP was chosen ahead of others based on its competitive pricing model, access to an online portal with HR documentation and policies drafted by a dedicated HR and legal advisory team and further access to a practising employment lawyer who would be available to them via phone, email and online when needed. According to Searle, ESP was able to deliver exactly what was promised and successfully helped Castle Trust through the redundancy programme that was necessary due to the relocation project.
ESP continues to provide ongoing operational support with a dedicated employment law advisor, which, combined with a newly implemented self-help HR system, allows Castle Trust to maintain employment law capability without the cost of employing an HR manager.
With other suppliers, the available documentation in many cases seemed like regurgitated letters and there wasn’t an option to be able to speak to a specialist employment lawyer who understood your business.
What I like about ESP is their combination of high quality documentation and policies made available to us through the website, alongside the instant access to specialist legal advice. Best of all is having our own dedicated lawyer we can speak to whenever we need. The advice they give is simple to understand and tailored to our business and its specific challenges.
Although we still use a traditional law firm on certain specialist employment law matters, working with ESP gives me peace of mind that we’re on top of employment law on day to day matters. I know ESP is up to date. Working with ESP has also proved a massive cost benefit for the business.
Chief Operating Officer, Castle Trust
Every day, businesses like yours find ESP gives them so much more
Unlimited specialist employment law advice, tailored specifically to your business needs.
A dedicated legal advisory team assigned to you, including two practising employment lawyers as a minimum.
Full control of budgetary resources with low, fixed annual subscription.
Instant online access to a wealth of legally compliant, up to date HR and employment law documentation.