{"id":79747,"date":"2024-07-31T09:00:35","date_gmt":"2024-07-31T08:00:35","guid":{"rendered":"https:\/\/www.bullhorn.com\/uk\/?p=79747"},"modified":"2024-07-30T15:43:58","modified_gmt":"2024-07-30T14:43:58","slug":"diversifying-your-business-expand-your-offerings-and-client-relationships","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/","title":{"rendered":"Diversifying your business: Expand your offerings and client relationships"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Take a look at the quarterly reports of any public recruitment agency at the moment, and you\u2019re sure to find a full readout of how that agency is diversifying, whether in their product line, service line, verticals, or geography. Diversifying isn\u2019t just a hot topic in the industry\u2014it\u2019s survival.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At our recent <a href=\"https:\/\/engage.bullhorn.com\/engage-boston-2024\/content-hub\/\">Engage Boston<\/a>, we gathered some of the industry\u2019s key players for a candid conversation about their experiences\u2014the high points and the low. The result is a series of takeaways our larger network can benefit from, including tips and tools you can incorporate today.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read on for insights from:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gretchen Keefner, SVP, Global Enterprise, Bullhorn<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chad Coffey, Manager of Enterprise, Eight Eleven Group<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chris Choe, VP \u2013 Transformations, ZRG<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tara Winn, COO, Dexian<\/span><\/li>\n<\/ul>\n<h3><b>Accommodate growth with the right tech stack\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Traditionally an executive search agency, ZRG diversified into the interim fractional space about five years ago, growing from a $40 million business to $250 million in the process. During this process, the company outgrew their previous platform, as it wasn\u2019t best suited to accommodate their acquisition of consulting, interim and RPO business.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Suddenly, the business had a bottleneck. Having acquired 13 companies and nine different systems, \u201cwe were very fragmented,\u201d shared Choe. \u201cEverybody was working out of their own little systems as divisions.\u201d They realised that as they were nearing the $200 million milestone, they\u2019d have to pivot their tech strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They ultimately landed on Salesforce, due to the embedded knowledge of Bullhorn, married with growth opportunity like product building for the recruiting business. \u201cEnsure that tech stack design is a part of your strategic planning, and that you have a tech stack that enables agility,\u201d added Keefner.<\/span><\/p>\n<h3><b>Do no harm<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Dexian, a core staff augmentation business that recruits, develops, and nurtures global talent, has undergone seven M&amp;As in the past seven years. In order to navigate this pace of growth, they\u2019ve developed a \u201cdo no harm\u201d policy when it comes to these integrations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen we move into a new product line or we have a new business that we&#8217;re trying to fold in,\u201d shared Winn, \u201cit&#8217;s important as a people-first company that we immediately assess talent, but we also put resources in place to protect revenue.\u201d Organisationally, \u201cdo no harm\u201d means prioritising both clients and colleagues, while also protecting both people and revenue at all costs. \u201cBy leaning in and being more collaborative with our partnerships and our relationships, we really hear what our customers are looking for,\u201d said Winn.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It also allows them to make decisions fast and maintain agility while augmenting their capabilities with a unique platform of services. \u201cIf we see an opportunity that matches our core services, the financials check out, and we have the ability to execute, we&#8217;ll move after it pretty quickly and buy\u2014but at the same time, buying takes power,\u201d shared Winn.\u00a0<\/span><\/p>\n<h3><b>Communication is key\u2014but ask for help<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">For an organisation that maintains a nimble state of adapting and being flexible both operationally and culturally, the fast pace of acquisition at ZRG has surfaced some challenges when it comes to communicating both internally and externally.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThere are frictions as new companies of different sizes are being acquired,\u201d Choe said, leading to stakeholders asking themselves, <\/span><i><span style=\"font-weight: 400;\">What are our core values? What needs to stay, and what needs to go?<\/span><\/i><span style=\"font-weight: 400;\"> The game-changer at ZRG was when they sought external support from a brand agency that specialised in strategic communications.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThey did a fantastic job of outlining exactly what our model was for the absorption of these brands. This has helped not just externally, but internally the team understands how we&#8217;re going to be approaching these brands that we are acquiring, because that was one of the biggest struggles that we had, as we were growing so rapidly.\u201d The company adopted new terminology, rather than internal players referring to each other by legacy names, which helped the fusion of a new, integrated organisation.\u00a0<\/span><\/p>\n<h3><b>Your customer is talking to you\u2014listen<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">After Dexian went through their merger and acquisition, \u201cit was very clear to us about a year into it that we had to have a new a new brand, a new name, a new flag, if you will,\u201d shared Winn. The company\u2019s CMO Kit Pavel led a two-year process of realising that new flag, which started with a meaningful dialog with the company\u2019s customers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe learned how they perceived us as the legacy brands and then what they really wanted from us, as Dexian,\u201d shared Winn. \u201cThrough those conversations, which weren\u2019t linear, we were able to have a different seat at the table, which ultimately led us into a very trusting relationship with our customers. Now they&#8217;re telling us exactly what they do want and we&#8217;re operating in a new world of business.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The result is a truly collaborative partnership that has opened up the company\u2019s diversification strategy. Said Winn, \u201cit was the voice of the customer work that allowed us to have those conversations. We weren&#8217;t just getting requirements anymore.\u201d<\/span><\/p>\n<h3><b>Embrace the customer perspective first<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u201cTake the time to listen to your customers, ask them what they want, and then move in whichever pace you&#8217;re able to,\u201d said Winn. The panel urged leaders to adopt a clear vision from the top down, not just internally, but also in terms of client expectations. By supplementing that vision with the right talent and having the hard conversations about whether the organisation has the talent to support that end goal, tough conversations can realise better outcomes for all.\u00a0<\/span><\/p>\n<hr \/>\n<p><i><span style=\"font-weight: 400;\">For more business insights, check out the <\/span><\/i><a href=\"https:\/\/engage.bullhorn.com\/engage-boston-2024\/content-hub\/\"><i><span style=\"font-weight: 400;\">Engage Boston Content Hub<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take a look at the quarterly reports of any public recruitment agency at the moment, and you\u2019re sure to find a full readout of how that agency is diversifying, whether in their product line, service line, verticals, or geography. Diversifying isn\u2019t just a hot topic in the industry\u2014it\u2019s survival. At our recent Engage Boston, we [&hellip;]<\/p>\n","protected":false},"author":456,"featured_media":79748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[15,584,585],"tags":[],"class_list":["post-79747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-industry-trends-and-insights","category-tips-tricks-and-how-tos"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Diversifying your business: Expand your offerings - Bullhorn UK<\/title>\n<meta name=\"description\" content=\"Diversifying, whether in product line, vertical, or geography, isn\u2019t just a hot topic in the industry\u2014it\u2019s survival.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Diversifying your business: Expand your offerings - Bullhorn UK\" \/>\n<meta property=\"og:description\" content=\"Diversifying, whether in product line, vertical, or geography, isn\u2019t just a hot topic in the industry\u2014it\u2019s survival.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/\" \/>\n<meta property=\"og:site_name\" content=\"Bullhorn UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Bullhorn\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-31T08:00:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/07\/Engage-Boston-412-of-572.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Megan Sergison\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Megan Sergison\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/\"},\"author\":{\"name\":\"Megan Sergison\",\"@id\":\"https:\/\/www.bullhorn.com\/uk\/#\/schema\/person\/4f70b147b63720f5728aa5e8f377af6e\"},\"headline\":\"Diversifying your business: Expand your offerings and client relationships\",\"datePublished\":\"2024-07-31T08:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/\"},\"wordCount\":952,\"publisher\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/diversifying-your-business-expand-your-offerings-and-client-relationships\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/07\/Engage-Boston-412-of-572.jpg\",\"articleSection\":[\"Events\",\"Industry Trends &amp; 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