Old Mill ranked amongst best in Power Index 2022
Old Mill are delighted to be ranked 13th among the top accounting firms in 2022 by AccountancyAge, celebrating excellence in accountancy. The Mid-Tier Power Index (MTPI) ranking strives to place a spotlight on mid-size firms in the UK that champion accountancy excellence. Old Mill was judged by a panel of experts from across the UK accountancy industry who focused on four key categories: Strategic Planning, Profitability/Growth, Professional Excellence, People & Community.
20th September 2022
Ben Carter See profile
We achieve success by capitalising on our two, traditional core strengths – our people, and the diverse services we provide our clients.
We do all we can to retain and recruit the best people possible, starting with our well-established trainee development programme and career development paths across all teams. We are also creative with reward – for example, we introduced an in-year cost-of-living pay rise to help our staff in these difficult times. We also recruit and reward based on values and behaviours, not just financial performance, which we believe provides a fantastic foundation on which to build.
From a client perspective, we have always differentiated ourselves positively from other firms via the industries and breadth of services we offer – for example, around one-third of our income is from Financial Planning. This will continue over the coming years, both by harnessing technology to expand existing services and launching new ones, such as an Estate and Probate service.
All areas of the business have contributed to our growth. Encouragingly, given the industry-trend of increased use of automation, our Digital Team is a key driver with a range of services including supporting clients in their use of cloud-based accounting software.
We have also recently completed the acquisition of a local firm that provides cloud accounting and payroll services to increase the service we can offer to our customers.
As a business there are certain values, we expect our people to demonstrate in their dealings with both our clients and our staff. The core values being ‘lovely to work with’, ‘passionate’ and ‘open-minded’. Creating an environment that allows our people to demonstrate these values ensures the level of conduct, integrity and performance we deliver is of the highest standard.
A recent example of this is where our Corporate Finance Team, Accountants and Tax Team all worked together to assist one of our clients in the sale of their business. As well as ensuring we provided the requisite advice and guidance, we ensured we harnessed a strong buyer/seller relationship to enable the parties to continue to work together post deal. We did this by working collaboratively, not in an adversarial way, to get a great deal for our client, yet a deal that worked for everyone.
In relation to the deal, our client commented “The support from Old Mill has been brilliant, they provided guidance and gave me great confidence that I have a deal that is fair and that everything has been done correctly giving fantastic peace of mind”.
As a result of a record-breaking year of recruitment, we are currently supporting 90 students to achieve their professional qualifications and we have recently invested in a new training platform which we hope will help to support people with their softer development needs.
In a challenging environment, we have continued to demonstrate our financial commitment to our people this year by supporting them with the cost-of-living crisis, in addition to our annual pay increase. Employee feedback has really captured how valued our people feel, with one of our advisers sharing his view. He said “It might sound odd, but knowing just how much Old Mill values, cares for and listens to its people, it wasn’t a massive surprise to see a companywide pay rise linked to energy costs. I feel very lucky to work for a company that puts people first.”
Our employee awards scheme where individuals can nominate their peers for going above and beyond or as a simple thank you, has also been used almost 20% more in the last financial year, demonstrating the outstanding performance culture that we’ve continued to nurture within Old Mill.