accelerating growth in an age of compliance ben stoneham, nowwecomply.com
TRANSCRIPT
Welcome!
Smart tech can transform
Focus on outcomes to drive growth
Compliance is here to stay
My goal today
Structure
I’ll 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.
• I’m all about cloud
• & I’m a libertarian at heart!
www.linkedin.com/in/benstoneham
About NowWeComply
“Smart Compliance software in the Cloud”
Cut Risk, Cut Admin.. Job Done.
‘We’re all about action’ – NowWeComplydoesn’t just prompt.. It does.
Come see us at Stand 94
Part 1 – Comply Damn-it!
It’s 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
Compliance isn’t just regulatory
Client ‘Compliance’ can be even more onerous
No need to legislate to change your terms!
‘Soft Compliance’
Doubly Damned!
Life’s unfair, it sucks.
De-regulate? … Don’t 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…
You’ll 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 ProofEvidencing 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…
We’ve 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..
Smart tech can transform
Outcomes to drive growth
Compliance is here to stay It’s a fact of lifeClient ‘Soft Compliance’ tooWe need some regulation
Process is GoodCompliance is ‘just process’
Focus on Outcomes supports growth
Cut RiskCut Admin (growth!) .. Job Done
Jerry’s 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 it’s 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.