CULTURE – BEST COMPANIES IN EQUIPMENT FINANCE
SLR Equipment Finance (SLR) has emerged as an innovative and customer-centric force in the equipment finance industry. The independent operates under the guiding principle that financing should be accessible, straightforward and tailored to meet the unique needs of end-customers. At its core, SLR attributes its success to a distinctive culture built on a member-driven approach and an unwavering commitment to enhancing the customer experience.
Empowering Members for Continuous Improvement
A pivotal moment in SLR’s journey toward a member-driven culture occurred in mid-2022, when members engaged in a process mapping exercise. This exercise, spanning from opportunity development to contract closure, involved all functional areas. It not only revealed the interconnectedness of different functions, but also led to digital transformation opportunities and projects. The empowering experience led to streamlined processes and ultimately an 80% reduction in transaction processing time from opportunity through funding. This success underscored the benefits of a member-driven culture in enhancing customer experience and organizational efficiency.
Values as the Compass
For SLR, values are not just words on paper, but a compass guiding the company’s choices and actions. The core values, particularly focusing on the customer’s experience, play a pivotal role in shaping the organizational culture. These values become the bedrock for decision-making, emphasizing the importance of the customer in process improvements and investment decisions. Effective communication is a cornerstone of SLR’s culture. The executive team ensures transparency by sharing the company’s midterm plan with members, fostering alignment on performance expectations and strategic initiatives. Quarterly all-member meetings serve as a platform to update members on financial performance, corporate initiatives and to recognize outstanding performances. The emphasis on communication extends to touch points between members and their managers, promoting ongoing dialogue and feedback.
“As a leader seeking to develop a purposeful culture, I believe you first need to decide what the outcome you are looking to derive from the vision,” CEO Tom Casey says. “Then as a leader, live the values that drive the culture and be authentic, transparent, compassionate and visible to the organization so there is trust and belief in the vision as well.”
SLR recognizes that embracing diversity, equity and inclusion expands its potential talent pool. The company actively seeks diverse and talented individuals, with a significant achievement seen in the senior leadership team, where more than 30% of positions are held by female members. This commitment to diversity contributes to SLR’s growth by bringing varied thoughts and experiences to the table.
Loyalty through Recognition and Empowerment
SLR invests in the well-being of its members through a range of resources, including hybrid work schedules, on-site gym memberships and wellness programs. The company’s focus on well-being extends to career development, with quarterly manager touch points ensuring members receive the support needed for their personal and professional growth. By providing resources and celebrating members’ exploration of different sectors, SLR fosters a culture of continuous development.
Loyalty is a natural outcome of SLR’s commitment to open communication, growth opportunities, fair compensation and a collaborative work environment. Recognizing members through programs like C.A.R.E Cards, which acknowledge exceptional efforts, reinforces a culture of empowerment and commitment to the company’s success.
Brand Identity and Market Dynamics
One factor that has contributed to SLR’s culture is its focus on brand identity, aligning with parent and sister companies for a cohesive brand image. This identity brings pride to members and enhances the company’s appeal. SLR’s leadership remains vigilant about market dynamics, recognizing the need for continuous adjustment to stay relevant and attract top talent based on future needs.
As SLR’s members develop new ideas, the company challenges them to take ownership and lead implementation which builds experience, confidence and leadership for SLR’s future. •
