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building AN INTERNATIONAL BRAND (Some lessons learned)

building AN INTERNATIONAL BRAND (Some lessons learned). Russell Clements | russell@cube19.com . Russell Clements | Chairman | cube19.com | @RUSSCLEM65 . My PROFILE. Age: 49 Lives: North London with wife & three children.

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building AN INTERNATIONAL BRAND (Some lessons learned)

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  1. buildingAN INTERNATIONAL BRAND(Some lessons learned) Russell Clements | russell@cube19.com Russell Clements | Chairman | cube19.com | @RUSSCLEM65

  2. My PROFILE Age: 49 Lives: North London with wife & three children. Educated: Essex University (BA HonsGovernment & Economics) Wharton Business School University of Pennsylvania (Advanced Management Programme) Career: 1986 Sales Executive - Computing Newspaper 1986 Recruitment Consultant – Computer Futures 1991 Sales Director – Computer Futures 1999 Managing Director – Computer Futures 2001 Deputy CEO – SThree 2004 - 2012 CEO SThree PLC Present: Non Executive Chairman – cube19 & Oyster Partners

  3. STHREE KEY FACTS • Established in 1986, IPO 2005 • 54 Offices in 21 countries • 100% organic growth through home grown management • Pure Play Specialist, particular strength in “STEM” disciplines • 70% of Gross Profit from international offices • Contract: 60% Permanent: 40% • Derived from International Business • ICT: 40% of business 60% Engineering, Pharma, Bio Tech, Oil & Gas • Profitable every year since inception • Current Market Capitalisation - $800m

  4. STHREE’S global presence MIDDLE EAST/ INDIA Doha Dubai Mumbai UK & IRELANDAberdeen Birmingham Bristol City of London Dublin Glasgow Leeds London Manchester ASIA/PACIFICBangkok Hong Kong Kuala Lumpur Miri Perth Singapore Sydney Tokyo • AMERICASBoston • Calgary • Chicago • Houston • New York • Rio • San Francisco • San Diego • Sao Paulo EUROPEAmsterdam Antwerp Berlin Brussels Dusseldorf Frankfurt Hamburg Moscow Munich Oslow Paris Rotterdam Stuttgart Zurich

  5. THEstHREE EXPERIENCE

  6. sthreehas a multi brand strategy

  7. TWO TYPES OF SPECIALIST STAFFING MARKETS DEFINED BY CANDIDATE MOBILITY Banking Pharmaceuticals Oil & Gas Local Global Global candidates provide an ability to take larger geographical steps.Approximately 30% of consultants are working on global candidate markets.

  8. THE FOUR DIMENSIONS TO STHREE’S INTERNATIONAL GROWTH Increase headcount in an existing office into a new sector e.g. Sydney Banking Increase headcount in an established sector e.g. Munich ICT Increase office footprint in existing geography e.g. Perth Open entirely new regions e.g. Sao Paulo The majority of planned growth come from additional heads in existing locations, in both existing and new sectors.

  9. SECTOR DIVERSIFICATION LeADS TO GLOBAL gROWTH Or How do you get from Glasgow to Singapore? SINGAPORE IT SINGAPORE Middle Office Banking SINGAPORE Accountancy PHASE V Due to physical proximity a number of new markets become accessible 2009 PHASE IV Physical relocation to Singapore initially to focus on oil & gas market 2009 PHASE IINorth sea oil and gas market a logical next step 2006 PHASE IEstablished IT franchise looks to diversify 2005/6 PHASE IIIOpportunities to extend oil and gas market to SE Asia remotely 2008

  10. STHREE’S“ski run” model • Complex ventures operationally; will definitely require external resources. • Ventures in virgin territory; in some cases external resources may aide us • Ventures where SThree has some experience in the country but the venture incurs a higher operational risk than Amber ventures; e.g. complex regulation, a country which we have extensively tested but have no physical presence. Decreasing Risk Ventures where SThree has a presence in the Country but not the City. • Ventures where SThree already has a presence in the city i.e. a new sector being established.

  11. SOME PRINCIPLES applied

  12. Internationalisation:some principles applied • Everything starts with our overall strategy – all potential international ventures should be judged in line with that strategy • Make fact based decisions – hope/hubris is not a strategy • International expansion should be an “As Well As” not an “Instead of” activity • Wherever practical, test your international ventures remotely/virtually • Be prepared to pull the plug – after the event or before you jump off the kerb – don’t sleepwalk to potential failure through pride/obligation • Understand the P&L dilution as well as the cash cost

  13. LESSONS learned

  14. 10 leSSONS LEARNED • Internationalise sooner – not wait 12 years • Diversify sectorally sooner – Global Markets (e.g. International Banking, Oil & Gas) open doors that other sectors cannot • Developed a 5 year plan sooner – but it needs to be agile • Focus brand remits more specifically – more limited remits force international thinking • Think more carefully about the costs of doing business overseas e.g social costs 17/03/14 - £74.1117/04/14 - £74.1116/05/14 - £74.13

  15. 10 leSSONS LEARNED (Continued) • Be less inclined to export UK style remuneration schemes • Provide a “softer landing” for relocated staff • Conduct planning & post implementation reviews – mistakes are your best learning tool • Be more questioning on the motivation of re-locaters and consider their market background • Show more patience in terms of ROI in complex markets

  16. “GLOBALISATIONHAS CHANGED US INTO A COMPANY THAT SEARCHES THE WORLD, NOT JUST TO SELL BUT TO FIND INTELLECTUAL CAPITAL – THE WORLD’S BEST TALENTS AND GREATEST IDEAS” – Jack welch

  17. Thank You • Russell Clements | russell@cube19.com | @RussClem65 | www.cube19.com

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