Accelerating Growth in an Age of Compliance

Recruitment Agency Expo 2012

Ben Stoneham NowWeComply ben@nowwecomply.com

Welcome!

My goal today
Compliance is here to stay

Focus on outcomes to drive growth

Smart tech can transform

Structure
Ill be quick! 5 minutes on each key message Q&A at the end

About me
One of the founders of NowWeComply 10 years in recruitment tech. Background in supply chain and Business Strategy. Worked with lots of recruitment businesses over the last 10 years from small to large. Im all about cloud & Im a libertarian at heart! www.linkedin.com/in/benstoneham E: ben@nowwecomply.com

About NowWeComply
Smart Compliance software in the Cloud Cut Risk, Cut Admin.. Job Done. Were all about action NowWeComply doesnt just prompt.. It does. Come see us at Stand 94

Part 1 Comply Damn-it!

Its important to realize that whenever you give power to politicians or bureaucrats, it will be used for what they want, not for what you want.
Harry Browne (US Conservative Libertarian) 1933-2006

The Recruitment Industry Suffers

X Business and Social Regulation X Unintended consequences X Lack of clarity and delay

Doubly Damned!

Compliance isnt just regulatory Client Compliance can be even more onerous No need to legislate to change your terms! Soft Compliance

Lifes unfair, it sucks.

De-regulate? Dont bet on it. Everyone has an agenda (and lawyers get rich)

Clients will look to suppliers to offset and indemnify

So what do we do?
Work arounds and Opt-Outs? How about more resource? .. Or shall we just wing-it?

Wing-it? maybe not so good

Youll probably get caught out. You will still damage your business. Lots of things you are PERSONALLY liable for.

Still.. The other options

(More cost + more complexity + more risk)

= Lower profitability and growth

Part 2 Compliance for fun and Profit!

It's all very well to run around saying regulation is bad, get the government off our backs. Of course our lives are regulated. When you come to a stop sign, you stop; if you want to go fishing, you get a license; if you want to shoot ducks, you can shoot only three ducks. The alternative is dead bodies at the intersection, no fish, and no ducks. OK?
Milly Ivins (US Left- Libertarian) 1944-2007

We like some processes, right?

The Sales process we like (outcomes for us) De-risking (for sales!) Process establishes value creation engine

So why is Compliance any different?

Outcomes for your Clients and Candidate matter!

Compliance is just process

Process is good for you!

Compliance Supports Outcomes

Compliance is part of the COMMERCIAL Process It supports outcomes for the other 2 parties It limits your RISK

Limiting Risk!

Reasonable Steps Securing Proof Evidencing Policy

.. To accelerate growth!

Drive Processes to Improve Outcomes Analyze and Measure New opportunities (International)

& Building Value

(Better outcomes : More competitive)
+

(Efficiency and scalability : More profitable)

= +

Faster Growth

(Evidence : Limited Risk)

Increased Value

Part 3 Get Smart!

The effort of using machines to mimic the human mind has always struck me as rather silly. I would rather use them to mimic something better.
Edsger W. Dijkstra (Pioneering AI researcher; winner of the Turing award in 1972) 1930 - 2002

A lot has changed, though

Weve moved online Self-service is the norm
..but Admin still manual

600 per Candidate PA !

We could get MUCH smarter

Use The process Re-assign the manual 80% Stay Flexible

Process Automation means Action, not words!

Which means..
Much less admin resource required

Risk is Managed (and always evidenced!) Cost is contained

So..
Compliance is here to stay
Process is Good Compliance is just process Focus on Outcomes supports growth Its a fact of life Client Soft Compliance too We need some regulation

Outcomes to drive growth

Smart tech can transform

Cut Risk Cut Admin (growth!) .. Job Done

Jerrys

Final thought

Simple, clear purpose and principles give rise to complex, intelligent behaviour. Complex rules and regulations give rise to simple, stupid behaviour..
Dee Hock, Founder and CEO Emeritus of Visa Corp

Thank You.!
(remember its Valentines Day)

Logically..
Contention: Compliance is bad for growth Process is good for business (increase efficiency, scale and opportunity). Compliance is process Compliance supports outcomes (as part of the commercial process) Good outcomes are good for profitability Compliance limits risk Limited risk is good for value Compliance can be good for growth and value creation. Technology can drive process to increase efficiency, scale and opportunity while limiting cost and risk.