Online small business lender Prospa has been recognised by Great Place To Work as one of the top 20 best workplaces in Australia for 2023.
“Australia’s Best Workplaces” is an annual list that recognises firms who demonstrate unwavering commitment to improving the employee experience and are pushing boundaries when it comes to workplace policies, using confidential quantitative and qualitative feedback from employees on their company’s culture. The respondents were asked to respond to 60 statements on a five-point scale and answer two open-ended questions.
“We’re proud to receive this recognition and humbled by the support from our employees,” said Greg Moshal (pictured above left), co-founder and CEO at Prospa. “It is, after all, our people who make Prospa a great place to work by bringing their full and authentic selves to work every day.”
“When your purpose underpins what you do and the decisions that you make, it energises your employees, inspires bigger and bolder thinking at every level and translates to great experiences for your customers,” Moshal said. “It is our purpose, values and team spirit that powers the great work we do to unleash the potential of every small business.”
Prospa has pioneered new ways of working and build an exceptional employee experience over the past 12 months, includes launching a new value-led performance and growth framework, where employees are equally evaluated on performance outcomes and values during annual performance reviews, which in turn, ensures that Prospa can support the growth of its people as it continues to build a high-performing organisation.
The work Prospa has done to ensure its values are embedded across the organisation is reflected in its most recent Great Place to Work employee survey, where 97% of its staff said they understand Prospa values and what they look like in action.
“This bold way of assessing performance means that how employees got to results matters just as much as what results they have achieved,” said Elise Ward (pictured above right), chief people officer at Prospa.
“It’s part of our strategy, to ensure our values are embedded across everything we do and lived every day. It’s not about paying lip service; values are our secret sauce that allows us to build high performing teams, attract the best talent and deliver customer experiences that genuinely make a positive difference in their lives.”
Prospa said it is also committed to building a real, inclusive, and equitable workplace through its robust benchmarking process, its parental leave policies, employee wellbeing benefits, and two-way feedback loops across the organisation. The lender also regularly hosts Ask-Me-Anything with executive leaders, to enable employees to share their ideas and perspectives on the business strategy.
To assist in its employees’ professional growth and personal development, the company provides a range of learning and development opportunities, including its life and learning allowance, Prospa Academy, regular Hackathon events, and Learning Week.
In addition to joining the rank of Australia’s best workplaces, Prospa also received its 2023 certification as a Great Place to Work in Australia and New Zealand, having been formally certified since 2019. To earn this certification, companies are scored against global standards and benchmarks for employee experience, to prove they are delivering an overwhelmingly positive employee experience.
Roland Wee, managing director of Great Place To Work Australia and New Zealand, congratulated those who made it to the best workplaces list.
“In today’s talent market businesses need to put their best foot forward to showcase their great workplace culture to retain high performing employees for the years to come,” Wee said. “Companies who have made it onto this years’ Best Workplaces list are a testament to consistently improving and maintaining their great workplace culture practices.”
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