People before Profit
Royall take a look at the success of Russell Taylor Holdings, a company which highlight the importance of company value and culture, and attribute this to their long term success and growth.
Colin Cottell, in The Recruiter, reports on the success of Russell Taylor Holdings. This construction, industrial, technical and engineering recruitment company currently tops the 2019 FAST 50 and attributes its success to its efforts to maintain a family ethos whilst expanding into a several million-pound business.
The company is the fastest growing privately owned recruiter and achieved a compound annual growth revenue rate of 145.6% for the 3 financial years ending December 2017. Acquisitions have driven a significant portion of this growth but co-founder and CEO Ben Russell says the company’s success is down to much more than that as annual growth rate was between 15-20% even in years with no acquisitions.
The group now employs approximately 400 people but Russell believes that the more things change, the more important it is to stick to your beliefs and to do what made you initially successful. “A lot of our success is being like a family business rather than a corporate. It is a family mentality rather than a very faceless corporate structure”.
The group is organised into 5 separate limited companies which Russell believes maintains many of the advantages of a traditional family run enterprise; “we can afford to be a little less corporate”. People are not micromanaged, there is no “call centre mentality” and the company is better able to be flexible to support their clients’ needs. Russell states that looking after candidates is also a priority. They have never overstretched themselves and always have the resources to help with any issues that arise.
The company has a very low turnover rate, a fact that Russell is particularly proud of. People typically stay at the company for 9-10 years and Russell believes that having such a stable and experienced workforce enables them to know the standards and ethos to which the company operates and that that has “paid dividends”. People stay with the company because they are treated well: “We pay well, we bonus well, we develop and train, we support staff, and we treat them like adults”.
Russell is a firm believer in work-based learning. He favours growing people within the organisation and also runs apprenticeships across its various businesses. He also feels that the approach taken by the leadership of really being in the business every day, on the shop floor, helps maintain its family feel.
Finally Russell believes that although acquisitions may drive impressive short-term growth, the key to long-term success is a company’s value and culture.
We at Royall also believe that our values and culture are key to our long-term success: we are “Lifting Human and Organisational Spirit”. We deliver a purpose driven events recruitment service - our strength and unique approach are founded on elevating potential. Our widespread and deep industry knowledge enables us to partner with the best talent and client portfolio in the events and communications sector.
We believe in people before profit, longevity, maternal instinct, compassion, trust, and empathy. We believe that adopting heart-count over head-count, happiness, clarity, alignment, and fulfilment should matter as much as the metrics themselves.
We also strongly believe that traditional recruitment methodology is no longer fit for purpose and we aim to positively change the industry we serve through our integrated Employer Brand and Talent Development Consultancy offering.
To speak to us about how we can help you, please contact the team on firstname.lastname@example.org or telephone 01243 200077.
Reference: The Recruiter magazine