Case Study: Fintech Interim CHRO & CCO
Following a new round of Private equity investment, a high-growth Fintech business based in the UK needed to radically increase the strength and depth of it’s senior leadership team to drive the next phase of growth. As a small business which had grown at such a rate, there had been a lack of focus and consistency on hiring processes which mean that mistakes had been made with senior hires. Equally, there was a lack of focus on the customer and onboarding was highlighted as a particular issue as part of the broader customer journey. As a result turnover of staff and customers were becoming major problems which were impacting the business’ ability to grow at the expected rate.
To tackle these two issues, ZRG Interim Solutions first placed an Interim Chief Human Resources Officer with a proven track-record of delivering change at pace in small and mid-cap sponsor companies to rapidly revolutionise the recruitment, assessment and onboarding of senior leaders but also to take control of two failing searches for key members of the C-suite. In addition to recruitment, a review of all HR processes across the wider business was urgently needed to ensure compliance, engagement and to arrest the poor staff retention metrics.
With the people agenda in better shape, we turned our attention to the Interim Chief Customer Officer who needed to get to grips with an understrength team who rudderless and demoralised. After a comprehensive search, we presented a shortlist of experienced Sales professionals who all demonstrated proven experience in transforming the customer journey, working within Private Equity and great people management skills.
In short order, customer satisfaction improved drastically over a 6 month period, evidenced by a 10%+ increase in net promoter score and a 5% increase in customer retention rates. Equally, staff attrition dropped quickly from 32% to 25% whilst engagement scores jumped 20 points based on a perceived improvement in onboarding, performance management, training and hybrid working policy clarification.
Both interims helped oversee the recruitment of their permanent replacements and have left the business on a far sounder footing with solid foundations on which to achieve their investors ambitious growth expectations.