Strategy & Transformation | Business size: SME
Analyse and evaluate the current company set up – workforce, internal processes, systems & software applications, suppliers, running cost – bringing clarity and strategies to help the Managing Director (MD) to make critical decisions to prepare the business for an exponential growth.
From initial assessment to launch – 13 months
- Interviewed the workforce -14+ employees and contractors- to understand their jobs, daily workload, systems, documentation, thought processes, motivations, etc.
- Analysed deeply one of the service divisions, not generating profit for a couple of years, to identify the worth of keeping it vs dissolve it.
- Analysed a second service division as it has a history of unexperienced team, not strong enough to deal with the growth expected, we investigated solutions to bring the expertise in and how to share it among the team in a collaborative manner.
- The company needed to go under a full rebranding to reflect the aspirations and level of transactions and clients’ profile. We sourced and selected the branding company, work closely with them for over 5 months to design the new company name, logo, and image.
- Discussed the possibility of new services to complement the current offering -if the team and 3rd parties were aligned – 7 months later a new division was created servicing a very profitable part of the industry.
We moved the company from heavy paper-based finance processes to paperless and digital authorisation, automatization of invoices and monthly payments (DD). Set up the culture of remittance advice for suppliers and clients, as well as an arrears schedule scheme. Streamlined suppliers, reduced costs by negotiating terms and fees and cancellation of redundant services.
- HR – After evaluating the workforce we concluded that the young team, didn’t’ have the presence and/or gravitas to represent clients’ interests at heart. We oversaw and handled:
- Hiring an EA for the MD to bring more structure to the ever-growing needs
- Redesigned with the MD all the job descriptions and competency framework to apply for every new hire
- Hire a more senior member of the staff to bring in experience and expertise to one of the main divisions
- Dissolution of a full division- 4 employees received coaching to help them prepare for their new career ahead
- Hire 2 new members to allow for one of the divisions to achieve the exponential growth it could have
- Redesign Finance function and make it a part time role
- Dismissal of a junior member of the team after 6months of ongoing coaching once no progress was made despite the multiple opportunities given
- Hire another senior member to bring experience and expertise
- Design and implement end of year appraisals and attend review meetings with all the employees and the MD, setting annual reviews to keep them all accountable of targets and progress
- Managing business owner’ expectations – The business transformation happened during 2020/2021, in a time when the whole world was experiencing difficult time adjusting to the restrictions imposed on our freedom, reducing level of service/response time by 3rd parties, forced to re-designing work set up, in essence, life and work changed at all levels.
- Sounding board – during the walk & talk sessions we discussed many aspects of what running a business meant for the MD, what were the key elements to be involved in and what could be delegated. We dealt with frustrations, acted as virtual-punching-bag, confidant and, most importantly, a shield for the team so they could focus on the development of their jobs.