Achievements: Insurance Sector
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Challenge
A European leader, experiencing strong growth yet still under singlehanded leadership. Revenues were high but margins were meagre; staff motivation was low; middle management’s under performance resulted in a huge load on top management. In addition no succession plans were in place. Engagement A rapid diagnosis of key levers of change was made, first time issues were acknowledged across the organisation (staff delighted). Cohen & Simons set-up two levels of Management Board. Clear roles and accountability were allocated to middle managers who in turn empowered the front line who services their customers. HR structures were revamped and a complete step change programme was implemented with full company buy-in. Recovered Value Margins grew significantly. Now with clear direction, improved focus and established targets, that growth has been sustained to over 3 years to date. In addition management turnover halved and company could prepare for trade sale on basis of the sustained impressive results. |
