Narrowing the Niche

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Information about Narrowing the Niche
Business & Mgmt

Published on March 5, 2014

Author: RIDALtd



Nick Robeson's presentation titled 'Narrowing the Niche' from the RIDA & UKRecruiter Directors Event February 2014 020 3651 6993 Narrowing the Niche Nick Robeson CEO HEMMING ROBESON 020 3651 6993 Interim Management Interim v Executive Search History People & Partners Hemming Robeson 020 3651 6993 Where did it all begin? *Sir John Harvey Jones (ex CEO ICI) 110m loss to 1bn profit. The first recognized Turnaround Expert Interim Management began in Holland in the 80’s, Restrictive Employment legislation. *Companies carving out layer upon layer of middle and senior management. End of the concept of one company one career. *Many of these managers reengaged as “Consultants” by their old firms as they began to grow again, nervous about adding fixed cost to their businesses. *Fast forward to second half of the 90’s and those lean businesses are fighting for talent. *Senior execs walking away from big careers to set up dotcom businesses. Boards put together overnight Y2K – Opportunity for the IT industry to print money Search and Professional Service firms jump on the interim band wagon, Harvey Nash, Odgers, Robert Walters, PwC, Boyden, E&Y Creation THE INTERIM MANAGEMENT ASSOCIATION *20 years later 280 “interim Management businesses” And it’s estimated to be a £1.5bn industry in the UK alone Established tool in business – Most companies 20m+ t/o have used one. 020 3651 6993 Self Explanatory. Delivery in days not months. Need to know your talent pool INTERIM v SEARCH Day 1 - 3 Client briefing Weeks 1 - 3 Client briefing Begin thorough research process Begin the search & interim identification process Long-list completed Shortlist completed & sent to client for initial feedback Day 4 - 10 Meetings arranged between interim executive and client Weeks 4 - 6 Interviews/telephone calls between headhunter and long-list candidate Shortlist presented to client Client Interviews begin Successful interim selected screened and contract offered Week 6 - 10 Day 10 - 15 Candidate 2nd/3rd interviews completed Start date agreed Contract reviewed and signed Interim Executive starts Week 10 - 12 Offers Made Week 12 - 26 Candidate starts 020 3651 6993 Learnt the Ropes 1997-2000 Launched 2000 then Acquired 2003 Rebranded 2008 then Sold 2010 Launched 2011 020 3651 6993 Established “old school” Exec Search business. Partners naive about new world of internet and impact of 911 Global opportunity within Boyden. Lack of International ambition to build interim management brand globally Advised business was heading towards insolvent position. Fiduciary duties and all that! Need to protect reputation and integrity, Could I buy business? Me! Lack of experience but loads of ambition. Naïve about state of parent company. Director at 27.Huge opportunity Growing reputation and relationship with RBS relationship Manager. He saw I was on to something and my plan was worth supporting 020 3651 6993 2000 – 2008 40% compound annual growth. All about the Team. Strong Employee engagement. Rebranded business from Boyden to Alium. Exited franchise relationship with Boyden who showed no global ambition in relation to Interim Management. Getting ahead of ourselves, looking at acquisitions, overseas offices, mergers! Should have stuck to the knitting and focused on UK market only. Late 2008/early 09. World stopped. Initially business resilient BUT dealing with adversity. Private sector then public sector dropped off. Didn’t react quickly enough to scale back to meet the ‘new’ market. Still growing in short term, t/o now £14m. Employees nervous, shareholders/directors with different agendas. Picture becoming increasingly hazy. Bank pulling back on all facilities not being utilized. Initially cash rich but soon to be cash poor as clients seize up on payment terms. Multiple issues - resources, pay, performance, service, admin overheads, bank, shareholders etc. Time to gain clarity and take the big the decissions. Exit long-term partner Deal with debtors Cut pay and team by a third Deliver value to the Shareholders SOLD to INVESTOR in 2010 020 3651 6993 ON THE BEACH!! CRUICIAL THINKING TIME ABOUT WHAT TO DO NEXT REAL CLARITY ON WHERE THE OPPORTUNITY WAS IN THE MARKET Opportunity to do something different Majority of Interim businesses Me2 generalists No real differentiation between any of the majors USP became the size of their database, All a bit dull Old Guard firms had either died or disappeared or were distressed 020 3651 6993 People & Partners Peter Sanderson (Boyden & Alium) William Rogers (RBS) Lisa Hobbs (Boyden, Alium and Hemming Robeson) Key relationships crucial to success. Peter Sanderson 2000- 2009. Employee then part of buy out team. Huge experience as international board director. Process driven, marketer, business development. Lisa Hobbs 2003 – now Process driven, marketer, biller, current business partner in Hemming Robeson. Piers Marmion – 2008 Helped me see wood from the trees when I had to make big calls post Lehmans William Rogers – RBS Relationship Manager 2002 – 2007 Interested in business model, helped secure buy out 2003, opened relevant doors within bank for funding (invoice discounting) 020 3651 6993 People & Partners William Rogers – Now Priest!  RBS Relationship Manager so good he Married me!! 020 3651 6993 o Opportunity to do something different o Majority of Interim businesses Me2 generalists o No real differentiation between any of the majors o USP became the size of their database o Old Guard firms had either died or disappeared o Hemming Robeson delivers Board and Board -1 mandates only o A systematic and rigorous in-house interview programme o From 2200+ face to face interviews 590 selected as Hemming Robeson “Partners” o Rigorous selection process 92.5% applicants not accepted o Psychometric Assessment, 90 second video profile, Peer Endorsement, References 020 3651 6993 I Hate CV’s!! Setting up Hemming Robeson. Organisations scrabbled to find any business at any cost Interim went large and lowdown Clients failed to see differentiation Senior interims increasingly disillusioned Opened up a space at the top – “exactly the space that had been vacated’ Premium positioning Bank of selected interims Different approach (videos, assessments, 92% rejected) Highest standards client of service Board & Board - 1 020 3651 6993 Things I am religious about PLANNING SPOTTING TALENT GOOD PARTNERSHIPS PASSION FOR WHAT WE DO – EVERY DAY! FOCUS

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