Earlier, you saw what
we do and the sort
of people we put in
place as interims; but in practice, every assignment is different
and
challenging. Here are five
case studies which typify the range of work our interims undertake
and the results they achieve:
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Call centre specialist for fast-growing online payment company
Worldpay, the internet payment specialist and subsidiary of
the Royal Bank of Scotland, was experiencing a period of exceptionally
rapid growth- 90% year-on-year. The company needed to urgently
bolster the capability of its customer service operations; both
to cope with demand and meet customer expectations. The management
specifically steered clear of outside consultants, preferring
to source an interim from Interregna who would treat the project
as their own.
The candidate was up-and-running within days, fully conversant
with WorldPay's business models. The contract lasted seven months
where the capability and
standards of the centre were improved, and a new team structure
developed.
Additionally a new focus on developing staff skills underpinned
the increased output and quality of delivery.
Key to the interim's service was a transference of her skills,
so that by the end of her term, best practice was in place for
the contact centre to flourish further.
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Interim CFO for newly quoted media company
For more information see
our News
Section
A digital broadcasting company, recently listed on the London
Stock
Exchange, needed to strengthen its management team to meet the
needs of its
new situation. It was actively recruiting a new CFO to head up
its finance
team, but the process was taking longer than expected. To fill
the gap,
Interregna introduced the CEO to several potential interim candidates,
one of whom was retained for around 9 months before the handover
to a permanent recruit.
During that time, the interim CFO strengthened the company's
financial
reporting and planning processes, and provided the necessary
decision
support to the rest of the management team that was required
at a vital time
of expansion. The interim CFO also became an important part of
the recruitment process, as he was able to assess the on-going
requirements of the role and the profile of candidate that would
be best suited for it.
Overall, the CEO, the Board and the whole management team was
very pleased
with the interim solution and its effectiveness in developing
the financial function within the business.
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Interim CFO manages change for major high-street retailer
Interregna was commissioned to fill the post of
interim Finance Director at a prestigious high street retailer
during a period of rapid change
with far-reaching implications for the company. The candidate
ultimately remained in the post for over 9 months, and during
that time scoped and led a head office reorganisation programme
leading to a downsizing of 25%- with substantial associated cost
reduction benefits.
Amongst his other achievements was a change-management
initiative designed to focus the company's activities and maintain
direction during
this critical period, and the establishment of better practice
and improved controls over buying, promotions and pricing in
their competitive retail sector.
Accounting standards were also improved as the
company required rigorous forecasting and reporting techniques.
The financial function
of the company was handed over to the new incumbent at the end
of the interim's tenure in an ideal condition for the further
improvement of the business.
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Business Improvement
A Dutch group asked Interregna to find a Managing
Director with substantial experience of the food industry for
their UK operations.
The initial priority was team-building and
the restoration of morale, before identifying the most effective
way to reduce the
company's cost base. Funding for capital expenditure was severely
limited, but Interregna's interim MD concentrated on production
improvements and stock control to reduce the high costs of responding
to seasonal peaks. Within nine months, the turnaround had produced
annual cost savings of £2m - bringing the company back
into a significant profit - and working capital had been reduced
by £3m. The labour force had been halved for the same volume
and productivity improved from 50% to 70%.
The next key issue was the development of a credible new business,
NPD and marketing programme to ensure sound and continuing relationships
with national customers. Over the last six months of this assignment,
which lasted for two years, the MD supported the board in evaluating
long-term plans and options within the group's overall strategy.
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Specialist Support for a Leading Financial
Institution
A major UK financial institution, going through
challenging strategic and operational change, urgently needed
senior management support for its HR team. The ideal person would
be an HR specialist in compensation and benefits with heavyweight
experience of global banking practice coupled with a sensitive
approach to the people issues..
Interregna's interim manager has now been in place
for over 12 months. Having initially concentrated on key remuneration
issues, including the annual salary review for international
staff, he is now also heavily involved in a number of special
projects, including new business development and joint ventures.
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HR Management for quoted Financial Services
group
The group was going through major changes following
the acquisition of two new businesses alongside a traditional
business which had been family-run for over 50 years. New shareholders
demanded a change in culture and a complete review of HR practices.
Interregna was able to identify an HR Manager with
an excellent track record in handling people issues at a sensitive
time. The key requirement was for a manager who could initiate
a change in culture and attitudes. In a traditional working environment,
which included substantial "unsocial" hours and part-time
working of a mainly clerical workforce, it was critical that
the interim manager could herself be respected by both management
and the staff. Over a four-month period, prior to a permanent
appointment, the key successes were:
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Persuading line managers
to adopt a less direct approach to staff by encouraging team
building through weekly meetings and informal briefing sessions |
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Introducing new terms and conditions
at all levels |
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Establishing appropriate procedures
for disciplinary matters |
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Rationalising overtime arrangements
and holiday pay |
As you can see from all these examples,
our interims are used to working at the highest level in major-player
companies, and
deliver demonstrable results within tight timescales. To take
advantage of these skills, call us on the number above.
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