Global Investment Banking Company

Group: Mergers and Acquisitions Corporate Advisory

Problem Summary

Inefficiencies in the preparation of deal proposals to prospective clients made it difficult for the M&A Corporate Advisory group to attract and retain top-tier talent and created a significant gap compared to their competitors in the time-to-market from deal proposal inception to delivery. Both of these situations contributed to substantial lost revenue opportunities and increasing costs of running the business.

These inefficiencies included (but were not limited to) the following:

1. Could not identify and find the necessary talent within the company to form qualified deal teams in a timely fashion.
2. There was no common repository for important information needed to complete deal proposals, which made searching, accessing, and compiling relevant data very time-consuming, redundant, staff intensive and costly.

These inefficiencies directly resulted in an increase in the number of staff needed to complete compelling deal proposals. Oftentimes, these employees were required to work incredibly long hours (18+ per day) - over stretches that could be months - in order to finish a proposal. The constant pressure took its toll on many who opted to leave the company, taking valuable knowledge with them and forcing the hiring of more junior and inexperienced staff to replace them.

Networlding Solution

An enterprise networking strategy was developed and delivered, connecting all the various experts, knowledge, and wisdom across all relevant departments of the organization and focusing them on specific client segments. This made it easy to tap into available and qualified in-house experts necessary to rapidly form quality deal proposal teams.

Online collaborative social computing tools supported the networks. The technology allowed team members to easily find needed and supporting information, to collaborate on the research with network members, analyze the data, and then to compile into compelling deal proposals.

The network members were taught how to capitalize on reuse, capturing results of each deal teams´ results and efforts and placing back into the social computing environment for future use.

Outcome

Time to market to ideate, develop, and deliver a deal proposal was drastically reduced, redundancies and inefficiencies in the process were eliminated, and reuse of knowledge increased for each subsequent deal proposal.

M&A sales increased significantly, generating $100s of millions in new revenue, and culminating in a huge 6-point rise in competitive ranking position as reported in the yearly M&A Industry League tables.

Staff turnover dropped by nearly 25% across the group and average work hours per day dropped an average 4.5 hours per day during the deal proposal creation periods.

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Global Credit Card, Financial, & Travel Services Company

Group: Global Credit Card Services

Problem Summary

Hiring and retaining skilled leaders into this company's management team was a recurring nightmare, as the exit-rate of new management hires within their first year of employment was alarmingly high each year (some years approaching as high as 60%).

Estimated cost to the firm was approximately $1m per year, per person leaving. The primary reason cited for leaving: They had no idea of whom they should connect with or how to reach out to others in order to be successful.

Networlding Solution

Networlding developed a strategy for an enterprise networking solution that included semi-annual Networlding Events designed and tailored specifically to retain this top talent and the creation of a group of networking circles of support for employees to help them leverage their talents across the organization, involving multiple divisions and geographic locations.

These events and online networks consistently educated new hires in values-based networking while introducing them to each other, connecting them in newly formed enterprise networks, and extended connections to other leaders in the company.

Outcome

During the first year of the program the attrition rate of these new hires dropped fifty percent and in the second year sixty-five percent, yielding a savings of approximately $8 M in two years.

The enterprise networking strategy and the development of values-based networking competencies are now integral components of the new-hire on-boarding process; leadership continuity has increased and the company's ability to both recruit and retain top-tier talent has improved.

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International Long Distance Carrier & Service Company

Group: Long Distance Carrier – Region U.S.

Problem Summary

Following introduction of this company to a region in the U.S., new carrier revenues were far below expectations and a new strategy was needed to bolster sales and revenues to ensure success and sustainability in the region.

Networlding Solution

Networlding devised and delivered a strategy that created a new, boutique service offering and an enterprise networking strategy that connected company sales and marketing staff with local Rotary Clubs throughout the region. This strategy also included an approach to develop social capital for the company to leverage in the enrichment of its brand.

The new boutique service offering granted Rotary Club members, their families, and any they introduced to the network, the ability to collect "points" for each long distance service utilized through the company. As points accumulated, Rotary Club members could exchange them for needed local school infrastructure (e.g., computers, equipment, etc) and supplies (e.g., books, writing utensils, notebooks, etc) that directly benefited the children in the respective local communities.

Outcome

New sales revenues jumped over 360% in the first year of the offering. The Company brand also gained a new aspect of social responsibility that further heightened both the awareness of the company and helped to drive its success throughout the region.

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Global Telecommunications Company

Group: Corporate

Problem Summary

The company was structured with independently managed and controlled departments, creating a silo effect between them and a redundancy across them of upwards of 60% when it came to the utilization of resources. Networlding was asked to develop a strategy for breaking down these silos to create a collaborative environment where solutions could be realized faster and more economically, and resources could be leveraged across the silos allowing management to reduce redundancies and increase performance.

Networlding Solution

Networlding developed and delivered a strategy that was launched with an event that included more than 300 managers, senior managers and directors from all areas within the company.

At this event participants were educated on the architecture of a social network, in values based networking, and were provided interactive exercises that helped them experience the power of facilitated networking.

Outcome

The entire room of 300 walked away with strategies and tactics offered by - and for - each other, with commitments to follow through between departments to reduce costs through such means as group buying, sharing of best practices and teaming up to cross-sell products that had not previously been packaged together. Collectively they began the ideation process for extending their newly formed networks in ways to create extended networking throughout the company.

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