You’d think a company that works in the financial sector, particularly in recruitment, would have had a pretty grim 2008.
Not so for Portishead based Verridian PLC, a financial recruitment and technology training specialist, which has enjoyed pretty spectacular growth in recent years. Last year it broke all turnover and profit records, up 35% on 2007. It capped a fantastic year with a prestigious award from the Institute of IT Trainers earlier this month for its work with mobile phone retailer Carphone Warehouse.
Part of the secret of Verridian’s success is the roll call of financial and technology blue chips the company counts as clients, but how has it gone about attracting these well known brands, and more importantly how has it retained and grown the business with them?
CEO Bill Haynes thinks it’s about giving the customer what they want. “Over the years we have quietly grown a strong reputation for meeting our customers expectations and then exceeding them. We are also unafraid to challenge their requirements if our experience shows a better path. This experience along with a 100% focus on delivering results and our highly motivated and skilled team is valued by all customers, whether they are a FTSE 100 financial institution, start-up or a global technology brand.”
Verridan has four distinct business groups, Financial Services Recruitment, Training, Professional Services and Marketing. Bill believes that there are several reasons that Verridian continues to succeed in a competitive marketplace filled with some major players. These include having a diverse product portfolio, not relying on one product for one customer, speed of response, quality of work, and providing a real cost effective alternative to the bigger, slower agencies in the market has helped them grow in tough times.
Verridian has been based in the west since it was formed in the 90’s. Does being in the area give the company a competitive advantage?
He says, ”Logistically, being based in Portishead is great for business, we are an hour from Birmingham, 90 minutes from London, minutes away from the motorways, and have access to a number of international airports. The Bristol area is rapidly becoming the place to be.”
Conditions for business in 2009 will continue to be tough but does Verridian believe it can continue the fantastic growth of recent years? Bill is bullish. “2008 was a record breaking year for Verridian, but that’s not to say that this economic train wreck hasn’t been difficult to manage at times. Any business that is going to come out the other side is going to have to plan well, adapt and show good business leadership. We have had to show all of these traits to get where we are and will continue to do so.”
Verridian employs 28 people in its Portishead HQ with a network of over 75 associated recruitment representatives across the UK. In recent months the company has begun expansion into lucrative global markets and has opened offices in Dubai, Singapore, Miami and New York. With conditions in the UK not set to improve overnight Verridian sees the global stage as the next big opportunity for growth in 2009 and beyond.
Bill adds, ‘We are expecting to break all records again in 2009 and all four business units are profitable. We certainly won’t be resting on our laurels and will continue to improve, innovate and grow.”