Tesco's UK Finance team answers our questions about working for the global retail organisation.
How often does finance get out into the field around Tesco's UK network?
Finance talks to colleagues in retail stores and depots every day, but most spend at least a day a week out and about, supporting and working with colleagues.
What's the biggest challenge that a finance team faces in retailing?
It's all about ensuring a balance of financial control while acting as a true business partner. Finance directors regard it as critical that finance is very much part of the team, and not ivory towered in head office.
How are CIMA trainees supported in the workplace?
There's a large support network. Graduate trainees receive coaching as part of the team, from their line managers and peers.
New graduates are appointed a mentor at director level, who acts as an independent sounding board and adviser, while they're also given a buddy ' typically, another graduate who joined the previous year ' so they're not short of support.
What opportunities does finance get to demonstrate creativity when advising the business?
Tesco has a strong culture of 'raising the bar' ' encouraging its people to try new ways of doing things. It's believed that if you stand still, you'll eventually go backwards. So people know they can come up with ideas for improving processes and also developing themselves. Fear of failure isn't allowed to get in the way of innovation.
How does the company help its people achieve a good work-life balance?
The ethos within the company is that there's more to work-life balance than simply going home on time. Finance enjoys a considerable investment in team building days, which range from work related activities to events that are more focused on having fun.
Christmas parties and a summer ball are social highlights. And the company's support for Marie Curie provides lots of opportunities for colleagues to work together for a good cause. In finance, the atmosphere is described as 'noisy, with lots of banter'.
How do you keep stress to a minimum at year end?
Everyone's aware that year end will be demanding, so there's a heightened focus on working together as a team and ensuring no-one's struggling under the workload.
The last year end saw an impromptu and much appreciated delivery from Pizza Hut as the team pushed towards the finishing line. Once year end and budget are out the way, finance plans a party to celebrate, with staff enjoying considerable input into what exactly the celebration will involve.
Does everyone in finance shop at Tesco? What staff discounts are there?
Most people do shop there but there's no pressure. However, those who do get a ten per cent discount (after a qualifying period).
Do staff get free Bags for Life?
Nope ' everyone has to pay their 10p.
How would your colleagues in IT support describe the finance team?
They would say we understand the technology and how to fix it ourselves. We have quite a lot of skills within teams.
Does finance ever get to meet the celebrities that appear in the company's adverts?
No ' that's the preserve of marketing. But occasionally familiar faces are spotted at launches at head office.
How often do you get to take a lunch hour?
Everyone's encouraged to take a break ' and with an onsite gym and various cafés and canteens around the place, there are plenty of options. Pub lunches are in order for leaving dos or celebrations.
Why is finance vital to Tesco's business?
Finance plays a fundamental part in maintaining financial control while also providing value-added analysis on KPIs to enable the business to make strategic decisions.
Tesco at a glance
- Over 350,000 employees in 15 countries, across a network of 2,700 stores
- Revenue: £42bn in 2007
- Tesco is the largest e-grocer and most profitable e-retail business in the world
- 165,000 UK employees participate in the company's share incentive schemes
- There are over 13 million Tesco Clubcard members
- At any one time, 7,000 members of staff are on development programmes
- Each year, some 10,000 Tesco staff change jobs but stay within the company
- Tesco employees raised £857,000 for Cancer Research UK's Race for Life