RIPE4 proudly support the launch of the Lean in Finance website on June 27th at the Sheraton Diana Majestic Hotel, Milano, with a Roundtable "Achievement of Excellence through the Lean Six Sigma methodology”, bringing together the maximum exponents on Lean Six Sigma methodologies from various international companies in order to open a dialogue on Lean Six Sigma with the aim to spread the culture and create a network of expertise on one of the most important business consulting methodologies.

Where are we going?

The modern day recruitment industry can trace its roots back to the 1940s and WWII. A significant proportion of the population were enlisted in active duty resulting in a void within the work sector. This led to the creation of several recruitment agencies who began to advertise these vacancies amongst the remaining populace. Furthermore the end of the war resulted in an influx of new workers, many of whom had practical skills that were sorely lacking in the employment market. This led to increase in the popularity of recruitment agencies and the continued growth of the economy marked a shift whereby recruitment agencies started catering for the employer rather than the unemployed. The modern day recruitment industry then is as varied as it ever was; from specialist boutique headhunters to large mutli-disciplinary recruitment behemoths.

There is no doubt that the recession took its toll on the recruitment sector, however latest trends has shown that the industry has bounced back and is expected to be worth a peak vale of over £30 billion by 2014/2015. The industry has constantly shown that it is able to reinvigorate itself and come back stronger however there are still many challenges that lie ahead.

The Eurozone unrest has led to increased turmoil in the employment sector with many companies choosing to lay off staff and source staff internally to keep costs down. In addition the rise of professional online media such as Linkedin and Monster places millions of potential candidates just a click away from the employer; candidates that would previously have been contained on the hallowed databases of the recruiter. On the face of it the future for the recruitment industry looks bleak.

However it turns out that far from competing with the recruitment industry, the rise of online media is very much aiding the headhunters and recruiters. An employer using a job board or Linkedin in itself does not guarantee a satisfactory hire. They have to first set out a job description and decide where to advertise and then they would have to sift through all the resulting applications, the majority of which won’t be upto standard. This is a time intensive process.

On the contrary using a recruitment agency tends to save the client money. Recruiters already have a well established network of candidates and if they specialize in a certain field they will know exactly where to go to find your ideal candidate. In addition recruitment agencies tend to only charge a service fee upon placing an individual successfully, irrespective of the time spent on the assignment. There are advantages for candidates to as going through a recruitment agency means that they don’t have to waste time getting their name out to employers. CIPD figures show that 72% of vacancies do not enter the public domain; recruiters will almost certainly have access to clients that do not post vacancies on job boards.

The recruitment industry has shown itself to be resilient in the past. The eventual upturn in the economy and the rate at which the recruitment sector is adapting to modern tools means the future is very promising indeed.
 

Risk… Inherent?...  Inevitable?... Manageable!  Here at Ripe4 we pride ourselves on the diverse range of skills and views that we can bring to bear on multiple specialist markets, situations and, scenario’s. Over the past 8 years we have become an established, respected, and, trusted recruitment partner and advisor to some of the biggest and best companies and corporations in the world.

This diverse nature and trusted status is embodied by our specialist teams recruiting across industries such as Oil and Gas, Pharma, Natural Sciences, and Financial Services. Within these specialist markets we confidently supply top tier talent across a wide range of specialisms.

Out in the marketplace we are best known for our specialist recruiting within Engineering, Operational Excellence (Six Sigma and Lean) and Risk and Compliance within both Industry and Financial Services.

Building on a history of success within risk management, and a time proven market leading business model, Ripe4 have developed a Specialist Risk Department to deliver recruitment solutions to clients within this cross-industry global market.

Made up of a dedicated team of experienced risk management recruiters this department has taken up the exciting challenge of becoming the market leaders in Risk Management. Dedicated to delivering results fast and accurately.  Why take a risk on anyone other than the dedicated specialists!

As we all know, the world of recruitment is a fast paced one, one in which you will not succeed without a clearly defined path and strategy. With this in mind, and an in depth analysis of Lean 6 Sigma methodology it appeared prudent to define an area of expertise for myself. From the first time I learned of Lean methodology, it appeared to me to fit in ideally with the concepts of Operational Risk.

Operational risk is, as the name itself suggests, a risk coming from the poor or improper execution of a company's business functions. It is of course an extremely open concept, one which focuses on risks arising from the people within a company, as well as the systems and processes through which a company operates. As well as this it encompasses wastage, fraud risks and the possibility of legal risks. Operational risk is something to me that all modern businesses should want to manage in the most efficient way, to cut down on, to reduce wastage, reduce man-hour wastage and as a result, save money.

A widely used definition of operational risk is the one contained in the Basel II regulations, "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." This definition states that operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.

However, the Basel Committee recognizes that operational risk is a term that has a variety of meanings and therefore, for internal purposes financial institutions often (legally) adopt their own definitions of operational risk, provided that the minimum elements in the Committee's definition are included.

The Lean Six Sigma methodology views lean manufacturing, which addresses process flow and waste issues, and Six Sigma, with its focus on variation and design, as complementary disciplines aimed at promoting "business and operational excellence". Companies such as IBM use Lean Six Sigma to focus transformation efforts not just on efficiency but also on growth. It serves as a foundation for innovation throughout the organization, from manufacturing and software development to sales and service delivery function.

The approach to managing operational risk differs from that applied to other types of risk, because it is not used to generate profit. In contrast, credit risk is exploited by lending institutions to create profit, market risk is exploited by traders and fund managers, and insurance risk is exploited by insurers. They all however manage operational risk to keep losses within their risk appetite - the amount of risk they are prepared to accept in pursuit of their objectives. What this means in practical terms is that organisations accept that their people, processes and systems are imperfect, and that losses will arise from errors and ineffective operations. The size of the loss they are prepared to accept, because the cost of correcting the errors or improving the systems is disproportionate to the benefit they will receive, determines their appetite for operational risk.

Of course, I believe that these two philosophies tie in together ideally. With the adopting of better Lean processes and better management of Lean manufacturing, Operational Risk can be cut down, and by the recruiting of the best Lean professionals within Operational Risk, businesses can grow.
 

 THE GOAL

Recruitment is a result’s driven business, while hard work and industriousness are integral, your ultimate goal is to fill a role through finding the “right” candidate. My obvious aim as a budding fresh-faced recruiter is to make that all important successful placement – the first deal.

THE CHALLENGE

This is easier said than done, first you must find a candidate that meets the criteria set out in the job description this entails rigorous interviewing in order to ascertain their suitability. It is important to note that the scrutiny of candidates is a two-way process, while it is your job to gauge whether or not a candidate is capable you also need to ensure that the candidate is actually interested in the role you are offering. It is vital that you build a rapport with the candidate as this helps you to build a relationship as you guide them through the application process.

THE INTERVIEW

Once the right candidates have been found, the next stage is the interviews and it is the recruiter’s responsibility to ensure that candidates are sufficiently prepared to give them the best possible chance of success. Again, relationships play a key part as you need to reinforce the candidate’s interest in the role and persuade them to attend, if you have built that rapport it is often easier to do.

THE FEEDBACK

Unfortunately, it is an occupational hazard that some candidates will be unsuccessful at interview and it is up to the recruiter to inform them of this. In my experience, this is the most difficult part of recruitment; however, it is best not to shy away from this because ultimately the relationship between recruiter and candidate should be based on respect and honesty and above all integrity.

THE HIGHS AND THE LOWS

While informing unsuccessful candidates is a real low point of the process, we cannot forget the ultimate aim of recruitment, the placing of candidates and informing a successful candidate that an offer will be made is a brilliant feeling. It is a culmination of a long process and the result of the relationship that a recruiter builds with a candidate. A change in career is not a decision that a person takes lightly and a recruiter must provide support to a candidate in order to see the relationship come to a natural conclusion. Once the offer is accepted and the deal made, the feeling is almost euphoric, it’s a great feeling to realise that you have made an indelible mark on a candidate’s life and career.

SUCCESSFULLY SUSTAINING RESULTS

Once the “buzz” is over, the focus shifts back to the cycle. A good recruiter does not rest on their laurels; a good recruiter builds momentum and ensures sustainability by consistently delivering the right results. So while the first deal is a good excuse to celebrate, it’s always a good idea not to get carried away. In a sense it feels slightly like the statement that every individual has the potential to write one good novel; everybody probably has it in them to find and place one candidate. Maintaining that momentum is what sets you apart.