nick robeson at our recruitment directors event
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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 ExpertInterim 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 overnightY2K – 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 aloneEstablished tool in business – Most companies 20m+ t/o have
used one.
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INTERIM v SEARCHDay 1 - 3
Client briefing
Begin the search & interim identification process
Shortlist completed & sent to client for initial feedback
Day 4 - 10
Meetings arranged between interim executive and client
Successful interim selected screened and contract offered
Day 10 - 15
Start date agreed
Contract reviewed and signed
Interim Executive starts
Weeks 1 - 3
Client briefing
Begin thorough research process
Long-list completed
Weeks 4 - 6
Interviews/telephone calls between headhunter and long-list candidate
Shortlist presented to client
Client Interviews begin
Week 6 - 10
Candidate 2nd/3rd interviews completed
Week 10 - 12
Offers Made
Week 12 - 26
Candidate starts
Self Explanatory.
Delivery in days not months.
Need to know your talent pool
020 3651 6993
Learnt the Ropes 1997-2000
Launched 2000 then Acquired 2003
Rebranded 2008 then Sold 2010
Launched 2011
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Me! Lack of experience but
loads of ambition. Naïve about state of
parent company. Director at 27.Huge
opportunity
Established “old school” Exec Search business. Partners naive about new world of internet
and impact of 911
Advised business was heading towards insolvent position. Fiduciary duties
and all that! Need to protect reputation and integrity, Could I buy
business?
Global opportunity within Boyden. Lack of International ambition
to build interim management brand
globally
Growing reputation and relationship with RBS
relationship Manager. He saw I was on to something
and my plan was worth supporting
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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 partnerDeal with debtorsCut pay and team by a thirdDeliver value to the ShareholdersSOLD to INVESTOR in 2010
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ON THE BEACH!!CRUICIAL THINKING TIME ABOUT WHAT TO DO NEXTREAL CLARITY ON WHERE THE OPPORTUNITY WAS IN THE MARKETOpportunity to do something differentMajority of Interim businesses Me2 generalistsNo real differentiation between any of the majorsUSP became the size of their database, All a bit dullOld 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 – nowProcess driven, marketer, biller, current business partner in Hemming Robeson.
Piers Marmion – 2008Helped me see wood from the trees when I had to make big calls post Lehmans
William Rogers – RBS Relationship Manager 2002 – 2007Interested in business model, helped secure buy out 2003, opened relevant doors within bank
for funding (invoice discounting)
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People & Partners
RBS Relationship Manager so good he
Married me!!
William Rogers – Now Priest!
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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
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I Hate CV’s!!
Setting up Hemming Robeson.Organisations scrabbled to find any business at any costInterim went large and low-downClients failed to see differentiationSenior interims increasingly disillusionedOpened up a space at the top – “exactly the space that had been vacated’Premium positioningBank of selected interimsDifferent approach (videos, assessments, 92% rejected)Highest standards client of serviceBoard & Board - 1
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Things I am religious about
PLANNINGSPOTTING TALENTGOOD PARTNERSHIPSPASSION FOR WHAT WE DO – EVERY DAY!FOCUS