Alter Domus’ strategy is to be the world’s leading, high-quality, and tech-driven provider of integrated solutions for managers and investors in the alternative investment industry. Although we are a young company that was established in 2003, we have an array of customers throughout private equity and infrastructure, real estate, and debt capital markets sectors who have been with us for nearly two decades. As evidenced by our client retention rate of 98 percent, we pride ourselves on the fact that our business relationships with clients are built to last.
Over the past year, Alter Domus’ team grew to more than 3,000 employees across 36 offices around the globe. The rapid pace of our growth has required us to rethink our approach to HR technology and its impact on our employees’ experience. We’re using it to create those “moments that matter” for all our employees, and to enable and support our transformation journey as a business while fulfilling our diversity and inclusion ambitions.
HR tech transformation is key to driving and sustaining our growth
Technology and innovation are at the core of our corporate mission as we look at opportunities to augment all aspects of the employee experience with tech. We must go beyond the current automation and digitization standards in the HR world to create a uniform employee journey which ultimately drives our diversity and inclusion priorities.
"In our steep growth and fast-paced environment, we have a highly meritocratic philosophy regarding clear accountabilities and recognition of performance"
We have a presence in 20 countries and maintain a global team of more than 70 different nationalities. Over the past year alone, our workforce grew by 23 percent. And over the last three years, it has doubled. We expect this level of growth to continue as we anticipate an additional 30 percent will have joined our 3,000 employees by the end of 2021.
Part of this growth stems from the five acquisitions Alter Domus completed over the past year. Within this M&A context, tech integration plays a vital role in ensuring the new teams feel welcome and recognized for their strengths. Beyond the customary hard wiring of systems and processes, we have had a priority focus on culture and engagement, aiming to give new teams access to the full “Alter Domus experience.” This experience is defined by key initiatives developed for all milestones and other moments that matter in an employee’s career with us.
The adoption of a robust Human Resource Information System, or HRIS, is the foundation of our transformation. Our “HR App” has become a truly digital one-stop-shop for all employees and represents a key intelligence dashboard for our HR functions, enabling us to report, measure and make decisions based on real-time analytics and human capital objectives.
A truly inclusive experience in a diverse workplace
Let’s start with the Alter Domus employee experience at its very first step: preboarding and induction. This year, we launched “Welcome,” a global onboarding app with a unique blend of technology, knowledge, and interaction. It brings the essence of Alter Domus directly into the heart of our new hires, giving them a personal and unforgettable onboarding experience wherever they are, whoever they are.
Once aboard, we want to keep listening to our people in an agile, digital, and data-driven way. To achieve this, we use an employee engagement tool that has become one of our key resources for seeking instant, anonymous feedback as part of our “continuous listening” approach to the employee experience. We use it to equip both our team leaders with intuitive and hands-on dashboards, and our Group Executive Board, allowing them to maintain the momentum towards our goal of being an employer of choice.
One of the priorities that emerged from the tool was our staff’s desire and eagerness to continually learn and develop their skills. We value this point greatly and are proud of our team of 3,000 employees for participating in over 28,000 learning interventions throughout the course of 2020. They all do this through the Alter Domus Academy, which is designed to be the learning destination for all our teams. This year, we’ve already exceeded this figure with 33,000 learning interventions and counting.
Here, again, tech intervenes to adapt and supplement our offering to different learning styles from webinars to self-learning platforms, and from e-learning to complete cohort programs dedicated to leadership, technical skills, personal development, and more. The diversity of our people shapes the diversity of our training.
A more meaningful approach to compensation, rewards and benefits
In our steep growth and fast-paced environment, we have a highly meritocratic philosophy regarding clear accountabilities and recognition of performance. We leveraged our upgraded HRIS technology to update our approach to performance management, building and optimizing our system in an agile way using a series of “sprints” to generate new functionalities and enhance the overall employee experience. This year we ran our first global compensation and reward review with it. Scores still matter but our new global tool allows us to spend less time on ratings and more time on meaningful authentic conversations that lead to concrete next action plans for our leaders and teams.
Closely tied to performance, Alter Domus is a true conservatory for talented accounting and finance experts to blossom and we’re pleased to see 20 percent of our employees receive promotions this year. We are proud of having fostered an environment where we move talent both geographically and within and across teams. We view this as an accelerator towards achieving our diversity objectives – building talent organically and offering our employees a differentiated career development path.
Technology both underpins and sustains this ambition. Our track record of leadership retention at senior manager and director levels proves success so far. Still, there will be no resting on our laurels as the competition to attract, recruit, and retain great talent will only continue to grow.