Many businesses — especially in this economy — would love to be in the position of Petplan. The pet health insurer has experienced explosive growth over the past few years, climbing to $18.7 million in revenue during 2010 and a debut on the Inc. 500 list (No. 123) in 2011.
But with explosive growth comes daunting challenges, and it has fallen on the husband and wife team of Chris and Natasha Ashton to lead the way. The co-founders and co-CEOs of Petplan — which is the DBA name of Fetch Insurance Services LLC — have needed to chart a course for the blossoming business and ensure that the resources are in place to sustain growth.
“We debuted at No. 123, but getting there sure wasn’t as easy as ABC,” Natasha Ashton says. “Managing that growth has meant taking our hands off the nitty-gritty and delegating. Bringing in the right kind of people to enable us to handle the growth and then accelerate it further is a constant thing. We’ve had to expand our office, pretty much double our head count and make sure the team members weren’t distracted throughout the construction. We also had to make sure the technology wasn’t going to falter and that we were able to maintain the same level of exceptional customer service that we have become known for.”
The Ashtons have been on a constant search for the best possible talent to aid in the company’s growth. But adding intellectual muscle to the work force is only part of the equation. The company’s employees have to be properly managed and motivated.
“We always have very lofty goals and ambitions, but one of the things we are very good at is taking those goals and breaking them down to manageable goals,” Natasha Ashton says. “Our aim is to become the first billion-dollar pet insurer globally. But when your long-range goals are ambitious, you know there are a number of steps you need to take before you can get there. So you break it down into manageable chunks, and delegate those, which ensures that we hit every goal along the way.”
“A lot of how you handle growth comes down to your core values as a company,” Chris Ashton says. “It drives who you decide to partner with as an organization, but it also drives the kind of people you look to recruit. You want people with a great skill set, who have relevant experience, but who also have the right personality. In our case, you want people who can thrive in a fast-growing, high-energy business like this, because it doesn’t suit everyone.”
A great deal of the Ashtons’ jobs revolves around communication. When the landscape is constantly evolving, new ideas are suggested by team members on a daily basis and maneuverability is important, management needs to define the company focus and communicate it consistently, while encouraging dialogue around new ideas.
“Part of it is cultural,” Chris Ashton says. “Do you really encourage people to speak their minds? We strive to reward people for having great ideas by publicly recognizing them. There are also structural things you can have in place. We have built an intranet that includes discussion boards, and we encourage people to contribute to the discussion boards along every aspect of the business. It’s key, because as you get bigger, nobody can be as involved in all areas of the business at once, like you used to. So you keep your finger on the pulse of what is going on, what the customers are saying, and continue to encourage the good ideas that are coming from our customers and our employees.”
How to reach: Petplan, (610) 595-3353 or www.gopetplan.com
Offices with adult-sized playground slides? On-site pet care? Table tennis in the lobby? Call it the Googleization of the American workplace, or whatever you want. Unconventional trends are becoming quite conventional.
It can mean you cultivate a more engaged, upbeat work force. But it can also mean that your HR questions just became a lot more vexing. Not only do you need employees who match the skills required for the position, they also need to be able to thrive in your unique workplace. One employee’s whimsical atmosphere is another’s irritating cacophony of background noise.
At Petplan, co-founders and co-CEOs Chris and Natasha Ashton are on the front lines of trying to answer the question of fitting employees to the workplace. The workplace atmosphere cultivated by the husband and wife team includes bright colors, animal figures positioned throughout the office and frequent visits from family pets.
For the Ashtons, the first question they often need answered from a prospective employee is “Are you an animal lover?” If you think dogs are too noisy or cats are walking lint balls, shedding everywhere, Petplan is probably not the place for you.
“We want people who believe that pets are fun,” Chris Ashton says. “There is a reason people have pets, and we want people who are also going to have that sense of fun about them. We want them to be able to bring that personality to work.”