Survive, Stabilise, Sustain and Grow.

As we approach our 1st Birthday in Feb, I wanted to share my experience of taking the reins at Walker & Sloan and reflect on where we have been, where we are and subsequently, where we are going.

If we were to rewind 12 months to when the plans were just being put in motion for W&S it is fair to say that a worldwide pandemic had not crossed our minds. As I am sure you can imagine, my partners and I were in great spirits prior to the launch and an extraordinary amount of planning had already been done to try and achieve the right flavour for our brand.

A little over a month in and the admin and financial burdens were easily taking up approximately 15 hours of a c. 60 hour week but the results were starting to look good and the learning curve for me was invaluable. Some of my previously established relationships had started to buy in to the concept of a new recruitment business and meetings, vacancies and interviews were starting to flow. We had even found a home for two construction professionals and it is fair to say, I was starting to feel very comfortable about this new venture.

As Covid-19 started to become more of a ‘thing’, the news of the impending lockdown and possible pandemic hit everyone at the same time and work seemed to evaporate overnight. When people mentioned to me that it would be challenging, they were absolutely right and the struggle became very real.

After some long and sleepless nights, I was beginning to think the game might be over for W&S before we had even had a chance to get going. However, due to the lockdown and the unprecedented circumstances that we found ourselves in, I was able to sit back, reflect, take stock of the situation and came to the realisation that the only option, other than failure, was to dig deeper, be better, offer more and stand out where others potentially weren’t. This is what had to happen in order to survive. 

The weeks that followed, were to be some of the most painful yet rewarding that I had ever experienced throughout my recruiting career and to put it simply, it has without a doubt moulded & changed my ethos & attitude surrounding recruitment. I was able to discover the joys of outsourcing, time management, vacancy analysis and the true meaning of relationships - it was humbling to be given work when so little was available and to those clients who ‘know who they are’ will not be forgotten in a hurry.

Just over a month later, we made our first placement... the most important placement of our short existence. This placement meant that it could be put towards our ever rising overheads but most importantly, it gave me the confidence to build from it. It changed my mindset from ‘down and out’ to ‘you can do this!’

Shortly after this, the decision was made to try and tackle the pandemic head on and with that we decided to make our first hire, Lee Curry. A marketing specialist with a great attitude and a string of enviable client relationships that we could utilise. Lee has so far been a terrific asset for W&S and I personally look forward to working with him for many years to come.

The baptism of fire in the first few months – valuing relationships, keeping a strong eye on cash flow, time management and above all - delivering on challenging roles got us through the hardest part.  

The summer came and went in what seemed like a flash and the past four months have seen us starting to really find our feet within our current marketing and construction sectors. We were able to gain some real momentum, even securing places on a few national PSLs, and we started working with numerous smaller but equally just as important clients too.

Off the back of some real success at the back end of 2020, I started to have visions about what the future might look like. Sure, great relationships and service delivery are all fine and it allows the fundamental stability of a recruitment business but what was next? How could I grow this? Should I look to grow this?

A few weeks went by deliberating, discussing with friends, colleagues and partners, and ultimately I did a review with a partner at our excellent accountants, Haines Watts.

Reflecting on the scale of the industry, with somewhere around 30,000 recruitment companies operating, I must be able to find some like-minded, equally or better skilled professionals that could share this journey with me. But why would they come to work with me? The recruitment sector is filled with empty promises.. how could I get this bit right? My solution comes through equity, development and autonomy.

If I am going to grow a multi-disciplinary, well respected permanent and contract business with a reputation for delivery I need billing managers and great principal recruiters, to care as much as I do. 

I’ve long believed in the concept that good, experienced and autonomous people should be given an environment where they can thrive, with the tools to do the job in a framework of support and accountability. Where so many companies stifle these people, my plan is to hire and support them.

I have therefore decided to allocate 50% of equity (in shares) to the future leadership team and to early joiners, with the offer that while initial share offering will be token, the leadership team of the future will really benefit from increased shareholding based upon performance. The concept being that it’s better to have 10% of something big and stable, rather than 100% of something small and volatile).

Additional to this, we will be offering basic salaries in line with our competitors, a market leading commission & bonus structure and an environment where you will be able to prosper and grow. It is simply down to you how much.

W&S are now looking to establish our senior management team of Associate Directors by the end of Q2 2021 and on offer will be an opportunity to be given equity on day 1, but also the ability to achieve a significant amount more over the course of the following 3 or 4 years.

We are open to what sectors we look at, whilst trying not to spread ourselves to thin and if you are currently occupying in a principal consultant, an office manager or a team leader position then I would like to hear from you. Moreover, if you’ve been thinking about starting your own recruitment company over the past few months or even years, don’t do it, partner with me instead and we’ll grow a business that we can be proud of.

In words similar to that of Greg Savage, (Author of ‘The Savage Truth’ and idolised recruitment guru around the world), ‘hard work always, dark days occasionally, but overwhelmingly fun and rewarding. It’s going to be an exhilarating ride!’

If you want to find out more, are interested in joining or investing in Walker & Sloan then please do give me a call on my personal number 07725048201 or you can reach me via my email [email protected]. Thank you for reading and stay safe. CW