Pinstone Ladder – the power of PDP

At Pinstone, the team is continually challenged to develop themselves and progress in their job roles and skills set. It’s a huge strength of our culture and has paid-off tremendously, both for individuals and for the business.

Over the course of the coming months, we’ll be profiling some of the team’s stories of how they’re investing in their professional development in our Pinstone Ladder series.

First up, our financial director, Robin Linch has been responsible for preparing the annual submission for PRWeek’s Top 150. Here, Robin explains how ongoing investment in the team’s PDP is helping to deliver measurable results.

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PDP

Climbing the league table in PRWeek’s Top 150

I’m really pleased to report that Pinstone has made progress in the PRWeek’s annual review of agencies. Based on the latest set of data, Pinstone ranked 20th in the b2b comms agencies listed, up four places from 2019 and 32nd in agencies with their HQ outside of London.

It is the third year we’ve entered this industry report and each time we’ve continued to make steady improvements in the rankings. It’s a really useful tool for benchmarking ourselves against other b2b agencies. By applying the same KPIs we can monitor the growth of the business alongside our peers.

A business is only as good as its people

I believe that having this type of industry measure in place clearly demonstrates that investing in your people is a step towards delivering tangible results. Pinstone success is delivered by its people which is why Catherine and I have always seen the value of ensuring that our staff are supported on their journey up the Pinstone career ladder.

Pinstone career ladder
PDP and profitability

As the numbers guy, I find PRWeek’s Top 150 results an interesting read, offering an in-depth overview of the current market. PRWeek’s new report shows that more than half of the 150 agencies suffered revenue decline in 2020, although performance overall varied considerably by size and specialism, among other factors.

Francis Ingham, director general of the PRCA says: "The unpleasant truth is that 2020 saw our industry contract - to grow smaller was the norm; to stay the same size was an enormous achievement; to grow was outstanding.

We’re fortunate that Pinstone been incredibly resilient throughout COVID-19 and last year we posted our best ever gross profit results which were up by 17%. However, whatever the challenges more widely, there is a significant upswing in confidence about trading in the current year.

Almost 97% of respondents to the survey said they were ‘moderately confident’ or ‘very confident’ about the outlook for this year as business recovery kicked in and started to accelerate. That positive trend has certainly been reflected in Pinstone’s Q1 results.

These types of successes serve to inspire the team to continue delivering fantastic results. We’re fortunate to have an ambitious group of individuals who are all keen to drive and shape the future of the business.

We look forward to seeing what 2022’s survey delivers.