One of the things I’ve really learned from the management teams is that it’s important in this environment to have a critical friend — or a guide who can help them focus on that critical area of people and culture. This is particularly important because often HR is one of the last functions to fully form in that size of business, and so having someone to really help them navigate it and go on that journey is a really valuable input for them. What we’ve found over the years is that the best businesses we’ve backed have had the most engaged, most energised people. And the more we can help other businesses get to that, the better the outcome. We developed the People and Culture Toolkit back in 2019 — it’s a series of tools that our portfolio and management teams can draw upon to help improve their culture, the maturity of their HR departments, and even select their HR system. This toolkit has been deployed in around 75% of the portfolio companies we’ve invested in since 2018. It’s a real tool — it gets used an awful lot and it’s added a lot of value across the portfolio.