The Challenge
A leading private equity firm challenged us to help improve the performance of one of their investments. A traditional UK market leader, multi-site, design, manufacture, install and service business, with a strong Managing Director, but a poorly performing senior management team.
Not sharing the view that his team was poor, the Managing Director was reluctant to make changes, he believed he knew his industry intimately and that he already had the very best people.
He needed to be convinced that there were better candidates available, but his investors were growing impatient, perceiving complacency.
Confidentiality was also critical; competitors would quickly exploit the fact that the business was in transformation.
Method
We agreed that we would first focus on improving sales with the appointment of a new Sales and Marketing Director. Due to the confidentiality and technical nature of the role we recommended that the most reliable method for identifying candidates who had the specific set of skills, industry knowledge and experience that the business needed, was to complete a headhunt into a broad cross-section of aligned organisations.
Starting at the beginning, we gained a detailed understanding of the company’s business strategy, they had become UK market leaders but were unsure of where future growth would come from, new equipment sales or service, we needed to identify candidates who were strong in both.
We initiated an extremely thorough market mapping exercise of competitors and aligned businesses in the UK, identifying a long list of potential candidates and making an informed and confidential approach, spreading the net wide to ensure that we delivered a broad and comprehensive shortlist that reassured a sceptical Managing Director that he would have a choice of high calibre and relevant candidates and that he wouldn’t have to compromise on quality and make change for change sake.
41 candidates identified and spoken with, 13 asked to sign a non-disclosure agreement and invited to attend first stage interview with LORD, 6 subsequently shortlisted to meet the client.
As the Managing Director didn’t really believe that there was better talent available LORD offered to interview the 6 shortlisted candidates with him, to ensure that he sold the role well, that he got the best out of the candidates and that he would buy into the end result.
The Results
The Managing Director thoroughly enjoyed the joint interview process and became genuinely excited about the quality of talent available to him.
6 candidates interviewed, 3 selected for final interview. Due to the success of the joint interview approach, LORD offered to be present at the final interview stage, which was accepted.
LORD completed personality, verbal and numerical testing of the final 3 candidates prior to their final interviews – discussing the results and agreeing with the client specific areas to then probe.
Jointly interviewed final 3 candidates, very little to choose between the top 2, both excellent. Discussed the merits of each candidate, assisting in the decision making process, selected the candidate with the strongest industry knowledge, strategic and people management skills, making recommendations on offer/remuneration package before putting it compellingly to the successful candidate and gaining their offer acceptance.
Conclusion
A comprehensive and robust recruitment process tailored to meet the Managing Directors specific concerns/requirements, ensuring that he was totally confident in the result.
Successful candidate has subsequently restructured a large salesforce, replacing 3 out of his 4 direct reports and 7 out of his 35 salesmen, introducing new training and relevant KPI’s in line with business strategy, realigning sales team’s geographic focus on new business opportunities in the South East rather than traditional account management – revenue up 18% in 10 months.
Managing Director has embraced the process and subsequently replaced 3 of his senior management team – our client is delighted in the transformation!