M A G A Z I N E
F O R
A N G L O - F R E N C H
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
B U S I N E S S JULY / AUGUST 2017
WHO MILLENNIALS ? ARE THE
T H E
ALSO IN THIS ISSUE: Q&A with Sir Paul Smith; Five minutes with Thales UK CEO Victor Chavez; and the latest round-up of Chamber events, Forums and Clubs...
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Estelle Brachlianoff President, French Chamber of Great Britain Senior Executive Vice President of Veolia UK & Ireland
o matter your industry or sector, millennials – Generation Y – are on track to become your most important demographic. By 2028, the last of the 'baby boomers' (those born between 1946 and
1964) will reach retirement age and leave the workforce. At this point, Generation Y will make up around three-quarters of the workforce and the oldest millennials (still sprightly at just 47) will have integrated key leadership positions across the corporate world. It is important to dispel the stereotypes about Generation Y; namely that millennials are lazy, unprofessional, entitled 'digital natives' who expect to begin as an intern on Monday and be Chief Executive by Friday. This is simply not true. Millennials are the most educated and most diverse generation in history, keen to use their digital skills to transform the economy, boost efficiency and disrupt existing markets. This issue of INFO will address the hopes and expectations of the millennial generation and, most importantly, consider how business leaders and HR teams can adapt their current strategies to attract, retain and make the most of Generation Y. Opening with an interview with millennial expert Jason Dorsey and then featuring contributed articles and interviews with experts from across a wide range of industries – including from Chanel, EDF Energy, Hudson Talent Solutions, PwC, Theodo and Veolia – the Focus will give you the answers you need to take action today. Turn to page 24 to find out more. This issue is also packed with reports from the many forums, clubs and events that the Chamber held throughout the spring. It is inspiring to see how engaged our members are with the Chamber, and I would like to thank the Chairs of the forums and clubs for their dedication and hard work. If you do not yet take part in any of these, I would highly encourage you – or your team members – to do so. I am also delighted to have been re-elected as President of the French Chamber of Great Britain, alongside Stephen Burgin as Deputy President, at our latest Annual General Meeting, held in June at Reed Smith's offices. As you will read on page 58, last year was a record-breaking year for the French Chamber, with more than 120 new companies joining our network, underlining our role as a business platform for Franco-British businesses to benchmark, grow and learn best practice. Thank you to the Chamber's entire team for their hard work. Thanks also to Florence Gomez, the Chamber's Managing Director, for her commitment and leadership – and may I also congratulate her for celebrating ten years at the Chamber this year! I wish you a pleasant summer, and look forward to seeing many of you during the rentrée. I
- july / august 2017 - 5
10 % Garantis ?
Document publicitaire dépourvu de valeur contractuelle
Malheureusement le Père Noël n’existe pas.
Les taux d’intérêt, le Livret A et les fonds en euros des contrats d’assurance-vie sont au plus bas : aucun placement ne peut garantir 10 % de rentabilité par an. Ce qui n’empêche pas les solutions de placement Gammes H de viser un objectif de 8 % à 10 % de rémunération annuelle en moyenne, sous conditions et en contrepartie d’un risque de perte en capital. Précurseur, Hedios invente le premier mandat de produits structurés : le Mandat Gammes H. Depuis la création des Gammes H, la moyenne de rémunération brute s’élève à 10,05 % par an (concernant les 25 supports déjà remboursés au 31 mai 2017, hors frais de contrat d’assurance-vie ou de capitalisation de 0,60 % par an, source Hedios Patrimoine). Les supports Gammes H non encore remboursés conservent un risque de perte en capital jusqu’à leur échéance (valorisations quotidiennes sur hedios.com). Les performances passées ne préjugent pas des performances futures.
Hedios - 76 New Bond Street - London W1S 1RX - Tel : 02034 455 094
www.hedios.com SA au capital de 1.011.724 € - Société de courtage en assurances immatriculée au registre des intermédiaires en assurance N°07 005 142 (www.orias.fr). Numéro d’enregistrement Financial Conduct Authority : 615361 - www.fca.org.uk
WHO ARE THE MILLENNIALS ? 24
T H E
M A G A Z I N E
F O R
A N G L O - F R E N C H
FRENCH CHAMBER OF GREAT BRITAIN www.frenchchamber.co.uk
52 53 54 55 57 58
Brexit: Analysis and look ahead Brexit: Is my French passport Brexit-proof? Brexit: The impact on talent and mobility Five minutes with... Victor Chavez, Chief Executive, Thales UK News & Analysis Start-up and SME News Success story: Frenger International Education news Reports and research
FOCUS | WHO AR E THE MILLE NNIALS ?
24 Introduction by Jason Hesse 26 Infographic: Millennials in numbers 28 Meet the 'Gen Y Guy' Interview with Jason Dorsey, Co-Founder, The Center for Generational Kinetics 30 Meet Mr & Mrs Millennial Hudson Talent Solutions 33 Millennial business needs Deloitte, Edenred 34 Attracting millennials Veolia UK & Ireland 35 Retaining millennials Schneider Electric 37 A new career ladder EDF Energy 38 Learning how to learn Theodo UK 39 Is it a bird? Is it a plane? No, it's a millennial Chanel 40 A new generation emerges PwC 43 What next? CULTUR E AND LIFE S T YLE
45 47 48 49 50
Culture: What's on Book reviews Lifestyle: Eat, Drink, Stay Profile Simon Thomas, Chairman and CEO, The Hippodrome Casino Cheese & Wine
Introduction by Florence Gomez French Chamber news Discover the Chamber New members Meet the Membership Department Report: 2017 Annual General Meeting
FORUMS & CLUBS
60 62 63 64 65 66 67 69 70 71
Luxury Club Classic with a twist Women's Business Club Rachel Johnson talks elections Start-up & SME Club Finding the best mentor to help you grow Retail Forum Meet the Retail Forum Chairs Retail Forum Retail Forum launches at the Chamber Digital Transformation & Innovation Forum Discover the new customer journey Finance Forum M&A: Don't wait to integrate HR Forum Time to get culturally intelligent Climate Change & Sustainability Forum Tackling climate change through agriculture Forthcoming Forums & Clubs
72 76 78 79
Past event highlights Rendez-vous chez Devialet; Rendez-vous chez La Maison Maille; Rendez-vous chez Boucheron; PA Club at Hippodrome Casino; London Philharmonic Orchestra; An evening with Il Volo; Jardin Blanc at the RHS Chelsea Flower Show; Dîner des Chefs at Hyatt Regency London – The Churchill; French Open 2017 at Roland Garros; Current Affairs Update Breakfast with Tanuja Randery Ambassador's Brief Forthcoming events
JULY / AUGUST 2017
WHO MILLENNIALS ? ARE THE
8 9 12 14 17 20 21 22 23
B U S I N E S S
MAY / JUNE 2017
AT THE CHAMBE R WHO ARE THE MILLENNIALS?
BUSINE S S WOR LD
ALSO IN THIS ISSUE: Q&A with Sir Paul Smith; Five minutes with Thales UK CEO Victor Chavez; and the latest round-up of Chamber events, forums and clubs...
Editor: Jason Hesse Graphic Designer: Katherine Millet Editorial Assistant: Noorie Haroon Graphic Design Assistant: Anniou Toybou Sales Manager: Suzanne Lycett Contributors: Marc Bena, Alexis de Bretteville, Eric Charriaux, Pia Dekkers, Thibault Lavergne, George Merrylees, Tanuja Randery, Ann-Marie Robson, Nicolas Taborisky, Marguerite Ulrich, Ben Xu
Advertise in INFO: Please call our sales team on +44 (0)207 092 6651. Alternatively, please email: firstname.lastname@example.org INFO is published every two months Printed by: CPI Colour Distribution: French Chamber members, Franco-British decision makers, Business Class lounges of Eurostar, Eurotunnel and Air France in London, Paris and Manchester
INFO is published by: French Chamber of Great Britain Lincoln House, 300 High Holborn London WC1V 7JH Tel: (020) 7092 6600 Fax: (020) 7092 6601 www.frenchchamber.co.uk Managing Director: Florence Gomez
- july / august 2017 - 7
Analysis and look ahead INFO looks at the latest news on Brexit and its impact on the Franco-British community
t was supposed to be so easy. Theresa May called a General
leaders are worried about immigration, about business trade
Election with the safe knowledge that the Conservative Party
and investment, about economic stability.
would gain a huge majority in Parliament, solidifying her power
On the immigration front, the UK Government has made
base and giving her a strong public mandate to lead Britain out
headway, setting out proposals to enable EU citizens to remain
of the European Union. Yet, once again, the British public have
and work in the UK – we asked Irwin Mitchell to answer some of
confounded expectations – Theresa May is still in power, yes,
your frequently asked questions about the proposed policy on
but in a much weaker position.
the page opposite.
What does this mean for Brexit? In reality, not much. Whether
What about business investment and economic stability?
you support Brexit or not, it remains that the UK will indeed leave
How much flexibility will Franco-British businesses retain post-
the European Union – it is a near certainty. Hard or soft, the UK is
Brexit and how will mobility be affected? We have gathered
heading towards the door. What matters now, then, is to ensure
expert views from Airbus and PwC to try and cut through the
that it happens in as successful a way as possible for all of the
fog (see p12). The main conclusion is that the UK and the EU
parties involved. This is in everyone's interests.
must work together. It does not have to be lose-lose. Agreeing
When it comes to the Franco-British business community, the concerns surrounding Brexit have not changed. Business
on a deal is paramount for the future success of people and businesses in both the UK and across the EU27. I JH
Key dates Brexit Negotiations – 3rd Round
German Parliamentary Elections
European Council Meeting
Brussels, Belgium – w/c 28 August
Germany – 24 September
Brussels, Belgium – 19-20 October
The third negotiating session between
It is only once Germany has voted for
This is set to be the first European Council
the UK Government and the European
a new government that the full cast of
after this year's big elections in the UK,
Commission will focus specifically on the
Europe's top leaders will be in place –
France and Germany. Finally, leaders
financial settlement issue – but how much
and it is they who will decide what sort
will have a mandate to take decisions
wiggle room do David Davis and Michel
of deal, if any, the EU27 bloc concludes
and push forward on the Brexit agenda,
Barnier have to reach a compromise?
with the UK.
without any need for electioneering.
The UK would have more to lose than its partners. There is no reasonable justification for the "no deal" scenario
A "no deal" scenario would be costly for businesses and consumers. The UK would face tariffs on 90% of its EU goods exports by value
MICHEL BARNIER, EU Chief Negotiator for Brexit, speaking to reporters on 5 July
RAIN NEWTON-SMITH, CBI Chief Economist, speaking at a meeting with business leaders on 7 July
8 - info - july / august 2017
Is my French passport BREXIT-PROOF? Three months after triggering Article 50, the UK Government has published a policy paper on the rights of EU citizens living in the UK. What do the proposals mean for French nationals? Ben Xu, Immigration Lawyer and George Merrylees, Personal Tax Lawyer at Irwin Mitchell, answer your most frequently asked questions What is my current right to live in the UK as a French national? As a French national, you are entitled to visit the UK for a period of up to three months without the need to comply with any formalities. Should you wish to remain in the UK beyond this threemonth period, you will need to be employed, self-employed, a student or self-sufficient (the latter two are required to have comprehensive medical insurance at all times). This is referred to as ‘exercising your treaty rights’. Upon completion of a five-year period of continuous residence (i.e. of exercising your treaty rights), you automatically acquire permanent residence status in the UK. For a period of residence to be considered 'continuous residence', you should not be absent from the UK for a period of six months in any given year in the period. If you do get permanent residence status, you may lose it if you leave the UK for a period exceeding two years. As an EU national living in the UK validly exercising your treaty rights, you are able to bring your family members to the UK whether or not they are EU citizens. Will there be any change between now and the UK leaving the EU? No. EU citizens and their family members will continue to enjoy the rights they have under the EU treaties. What has the UK Government proposed after Brexit? To help you understand what the UK Government has proposed for EU nationals in the UK after Brexit, we have identified five different probable scenarios: 1.
French nationals who have been residing in the UK for five continuous years prior to a cut-off date that will be set by
the government The cut-off date is yet to be determined and will depend on the negotiations; we understand that it will be a date between 29 March 2017, when Article 50 was triggered, and the date of the UK’s withdrawal from the EU. If you fall in this category, you will be guaranteed ‘settled status’ in UK law (i.e. indefinite leave to remain). Settled status under UK law is the equivalent to permanent residency under EU law. To obtain ‘settled status’, you will be required to make a separate application which we are told will be ‘streamlined’. That said, the UK Government has not yet provided any detail regarding the format of this application. If you have already received a document from the Home Office certifying your permanent residency, you will still be required to make a separate application after the UK leaves the EU to obtain settled status. If your family members arrive in the UK before the UK leaves the EU, current EU law will apply and they will able to apply for settled status after five years. If they arrive after the UK leaves the EU, they will be subject to the same rules as family members joining British citizens under domestic law, which are not as generous.
- july / august 2017 - 9
French nationals who arrive before the cut-off date and who will have completed five years'
continuous residence by the end of the grace period To avoid a cliff-edge effect, the UK Government intends to give a grace period. This period of up to two years will commence immediately following the UK’s withdrawal from the EU. If you fall in this category, you will continue to enjoy the right of free movement during the grace period without having to apply for permission from the UK. Once you complete your five years’ continuous residence in the UK, you and your eligible family members will be entitled to apply for ‘settled status’.
French nationals who arrive before the cut-off date, but will not have completed five
years' continuous residence by the end of the grace period If you fall in this category, you will be able to continue to live and work in the UK during the grace period without having to apply for any permission. At the end of the grace period, you will need to apply to the Home Office for a temporary residence document if you wish to remain in the UK. Once you have completed your five years’ continuous residence, you will be entitled to settled status.
French nationals who arrive after the cut-off date If you fall under this category, you will still be able to enjoy your right of free movement during the grace period without having to apply for any permission. At the end of the grace period, you will need to apply in accordance with whatever the domestic immigration rules provide at the time.
French nationals who are currently living in the UK without exercising their treaty rights If you fall in this category, then you may be here in breach of immigration rules. This may have a detrimental effect on your ability to enter or live in the UK in future. However, the policy paper proposed that settled status should still be given to students and self-sufficient people who did not hold comprehensive health insurance throughout the period of their stay. We recommend that you take legal advice to determine your rights of residence as soon as you can.
What action should I take now, in light of the UK Government’s proposals? On the basis that the application fee for a ‘residence card’ or a ‘document certifying permanent residency’ is only £65, it is our view that French nationals who meet the requirements should still make the relevant application. The residence card will confirm to the Home Office that you have lived in the UK and the document certifying permanent residency will guarantee your rights after the UK’s exit (see scenario 1). If you hold permanent residence or may qualify soon, we also strongly recommend that you look at whether you may qualify to apply for British citizenship and whether it suits your circumstances to do so. Will the rules change again? These are the UK Government’s proposals and they may change at any time before the UK leaves the EU. We strongly recommend that French citizens speak to their legal advisers on a regular basis to understand what their options are under the current regulations and the Government’s proposals. I BX / GM
On the basis that the application fee for a "residence card" or a "document certifying permanent residency" is only £65, it is our view that French nationals who meet the requirements should still make the relevant application
10 - info - july / august 2017
YOUR ESSENTIAL DAILY READ Our award-winning journalists keep you informed on all the latest industry news, ensuring you make the best possible business decisions.
BREXIT: The impact on talent and mobility How will Brexit affect Franco-British companies – particularly with regard to talent and mobility? Jeremy Greaves, Vice President for Corporate Affairs & Strategy at Airbus and Julia Onslow-Cole, Partner, Legal Markets Leader and Global Head of Immigration at PwC, give their view
peaking at the French Chamber’s
outcome of the negotiations. The starting
Brexit Forum on 24 May, Jeremy
point between the UK Government
Greaves and Julia Onslow-Cole
and the EU27 shows a significant gap
are in the UK exercise their treaty rights
between the two.
to register,’ she explained, adding that
explained what impact they think Brexit will have on talent and mobility. The forum’s Co-chairs – Angela
‘It is quite disappointing that we seem
should start acting now. ‘It is sound advice that people who
one-third of applications are currently
to be so far apart from the beginning,’
being refused (usually because the
Hepworth, Corporate Policy and
said Onslow-Cole. ‘The fact that the two
necessary documentation has not
Regulation Director at EDF Energy,
sides are rather apart creates a lot more
been provided). ‘It is good for people
and Neil Sherlock, Partner and Head
uncertainty for businesses.’
to start the process now, to gather the
of Reputational Strategy at PwC –
She shared that several PwC
paperwork and to register. Even if you
welcomed attendees as well as the two
clients have already started to prepare,
have the automatic right of permanent
supporting their employees to make
residence under EU law, it is helpful to
applications for permanent residency
confirm that position.’
Onslow-Cole opened the proceedings by painting a picture of the pivotal role
and/or British citizenship: ‘More clients
that EU nationals play in the UK economy.
are doing this now because of the
nationals need to be cautious about
Following the EU Referendum, PwC
She did warn, however, that EU
uncertainty, and it’s a good PR win for
applying for British citizenship. ‘There
co-authored a report with advocacy
them as people are incredibly grateful
is the potential that once British
group London First, called Facing Facts,
when their employers help them.'
citizenship has been acquired, you
which showed the positive footprint
no longer are able to exercise your
creates, on average, £46,000 of gross
Potential future immigration system
value added (GVA) for London’s economy
Turning to the future, Onslow-Cole gave
PwC’s concern for the so-called
every year. Extrapolating this figure to
her opinion of what the UK immigration
‘squeezed middle’; that is, where jobs
the estimated 1.8 million migrants in the
system might look like: she believes that
do not naturally fall into either the
capital, this represents £83bn per year –
there will be a sector-based scheme for
high- or low-skilled box. ‘Once you try
or roughly one-third of London’s GVA.
low-skilled workers that will cover a two-
and put people into boxes with
year time frame. Separately, there will
specific requirements, such as a
real value of immigration,’ Onslow-Cole
be a preferential scheme for EU citizens
degree or a certain number of years of
explained. ‘This shows the need for
and another similar scheme for highly-
experience, it becomes very inflexible.
migration for a successful economy.’
There are many sectors in this
of migration: each migrant in London
‘There was a real lack of data on the
Brexit will indubitably have an impact on this, but the extent will depend on the
What this means for people and businesses in practice is that they
European rights,’ she said. Finally, Onslow-Cole discussed
squeezed middle, so we are looking very carefully at this.'
There is the potential that once British citizenship has been acquired, you no longer are able to exercise your European treaty rights 12 - info - july / august 2017
We don't want the government to cock up, we want the voice of business to be heard and we would like time to adjust. Our approach is to ramp up our profile, strengthen our positioning and deliver on our promises to ensure that the right people are keenly aware of us and the factors that impact us Industrial viewpoint
with making sure that it gives business
continue to recruit and retain talent
Airbus’s Jeremy Greaves was next to
confidence that they know what
from other countries, to help fill the
speak, offering a specific industrial
they’re doing,’ he explained, outlining
skills gap in the UK. ‘Will we be able
angle on what Brexit’s impact might be
four specific areas: traffic, tariffs,
to source talent easily from other
technology and talent.
geographies? This is specific high-grade
He started by explaining why Brexit
‘The big question is how can we
talent – aerodynamic engineers do not
is of particular significance for Airbus:
manage the mobility of our workforce
‘We are the industrial vision of Europe
in a global business, when the UK is
made real. We are an amalgamation of
already struggling to give us high-grade
the industrial and political ambitions
engineers and the scientists we need
To mitigate against these risks, the
for aerospace in France, Germany,
for the future? We need to be able to
company has put into place a strategy
Spain and the UK. Our integration and
move our employees around easily.’
to ensure that Airbus’s voice is heard by
set-up is based on the free movement
just grow on trees,’ he explained.
the UK Government.
of goods, services, people, resource and
capital around Europe and has been
Movement of employees around
government that Airbus is important
optimised for competitiveness over
the group is paramount to Airbus’s
to Britain and to the aerospace and
business model. This is a truly pan-
defence leadership of Britain – like
European business where employees
many major multinationals, we need a
15,000 people in the UK (out of a global
frequently travel between Airbus sites to
bit of loving in the current environment,’
workforce of 138,000) – and indirectly
troubleshoot or give additional support.
supports more than 100,000 UK jobs
Indeed, the UK business alone counts
through an extended British supply
more than 50,000 staff movements per
cock up, we want the voice of business
chain of 4,000 companies has formed a
year to and from the UK. Should this be
to be heard and we would like time to
large taskforce to tackle what the impact
stifled by bureaucracy following Brexit,
adjust. Our approach is to ramp up our
of Brexit could be and Airbus’s senior
it could have a strong effect on the UK
profile, strengthen our positioning and
management have also committed to
business in the long term.
deliver on our promises to ensure that
The company, which employs
being transparent with employees: ‘We
‘It might not have a specific impact
‘We want to persuade the
‘We don’t want the government to
the right people are keenly aware of us and the factors that impact us.’ I JH
have made it a management duty to
initially, but there would be a drip, drip,
regularly update the workforce every
drip effect over the years, as the skills
two months. From an HR perspective,
and experience that has been created
The next Brexit Forum will be held on
we’re fully engaged.’
and nurtured in the UK gets eroded
6 September and will analyse the impact
away and other people from within our
of Brexit on regulations and the Customs
company take up the slack.’
Union and will feature Sir John Keefe,
On the external communication side, Airbus is actively lobbying the UK Government. ‘We have a number of
Greaves added that another
asks to the UK Government, starting
concern was how the company can
Director of Public Affairs at Eurotunnel Group as guest speaker.
- july / august 2017 - 13
Five minutes with...
VICTOR CHAVEZ Chief Executive, Thales UK INFO meets Thales, the leading innovator in aerospace, defence, transportation, space and security
What are Thales’s main activities in the UK?
threat when you look at the Gulf region and the issues of free
Thales is a global company that does difficult-to-do
movement in sea lanes in the Asia-Pacific region.
technology. By this, I mean technology where there is a high safety integrity or security issue and technology that is at the
How much of Thales's R&D is undertaken in the UK?
cutting edge of physics. We work across a whole range of
Thales’s research and development capabilities are very
sectors, but defence and aerospace are the industries that
carefully mapped out throughout the group in order to avoid
we are most well known for. We are also very active in the
developing products in different countries that compete with
The UK is the second-biggest country for Thales. We
There are three major research and technology facilities
employ around 6,500 people in Britain, the majority of which
for Thales: one in Reading, another in Paris and a third in
are highly-skilled graduates. Our impact is much larger,
Singapore; these are based in countries where there is real
though, as around 70 per cent of our turnover goes directly
technical depth and research capability. These are led by
into our supply chain, which reaches another 20,000 people.
an organisation called Thales Research and Technology,
Our industry split in the UK is 70 per cent defenceoriented and 30 per cent non-defence, although we are slowly
which sits across the top of the organisation and leads our technology development.
but surely increasing the transport business. We are already
In addition to this, we have an innovation and growth
London Underground’s signalling provider on the Jubilee and
team that works on customer-focused solutions – it looks less
Northern lines as well as the DLR – and will be rolling out our
at the technology than at business models. Transformation
technology onto more lines in the future.
and innovation comes as much from changing the operational
Thales's model is to invest centrally in our technology
business model as it does by bringing in new technology.
before introducing it into various markets. This requires
Innovation is not always about building technology to fire
high levels of investment, so you ideally want to be able to
missiles further or to make a bigger bang, it is about breaking
reuse the technology across multiple markets to make it cost
away and doing something entirely different to what was done
before. That is real change.
Which areas of defence does Thales operate in?
need to be right on the cutting edge of technology, and
We serve all of the UK’s armed forces. We provide the eyes
we have been working hard to drive up our research and
and ears of the submarine: the sonar systems, electronic
technology to ensure we stay ahead.
To retain our global competitive advantage, we therefore
warfare systems, optronics masts... these are loaded with all manner of sensors and detectors from Thales. The same
What role do exports play in the Thales UK business?
applies to naval ships and fighting vehicles.
We are very successful in the export markets. Thales UK has
Thales is also on the cutting edge of autonomous systems;
grown exports by 70 per cent over the last four years – and
we provide the Army’s tactical drone, called Watchkeeper.
not from a small base, either. To do this successfully, you
We are also in the middle of a very important UK-French
need a pull from the local businesses and a push from the
programme, called Maritime Mine Countermeasures, which
UK. At Thales, we have a fantastic global footprint and we take
is bringing autonomous systems for naval minesweeping. The
Royal Navy is known for around the world as being the best operator of anti-submarine and anti-mine warfare – it’s a real 14 - info - july / august 2017
What differentiates Thales from others is our willingness to create local industrial partnerships in export countries as
F I V E M I N U T E S W I T H . . . V I C T O R C H AV E Z
Transformation and innovation comes as much from changing the operational business model as it does by bringing in new technology. Innovation is not always about building technology to fire missiles further or to make a bigger bang, it is about breaking away and doing something entirely different to what was done before
well, working with the local supply chain. A huge amount of
for us, as is the development of the next generation of
effort goes into our partnerships in the export markets.
autonomous systems. Getting our defence products – such as the Watchkeeper and mine countermeasure technologies
How has Brexit affected Thales UK?
– to market in the UK and as exports at the right time is really
We were disappointed with the vote to Brexit. Thales clearly
important as it then gives us a good shot at success in the
had a preference for the UK to remain a part of the EU.
export market, too.
Having said that, we will be very pragmatic and will make it work for us.
Export in defence is absolutely critical for Thales. Our facilities would not be sustainable if we only served the UK
Thales UK is not as exposed to Brexit as some other
market. We need to be successful in defence domestically but
companies might be. Only a fairly small element of our supply
also in our exports, to create economies of scale and offset
chain originates from within the EU, so we can calculate what
that is and look at how much we expect to sell to Europe.
Obviously, there is some technology that we do that is so
In the event that we see tariffs come in on aerospace or
sensitive that it cannot be exported to other countries. This
defence-type components, we will look at the competitiveness
is why we have developed a carefully-crafted approach to
of our EU suppliers versus our UK and other global suppliers
design for modularity and re-use. It means that we can reuse
and optimise our procurement.
software and hardware components across all of our
Looking at our exports, the EU represents a relatively
small proportion of our sales; our main markets are in the What does being a Patron member of the French
Asia-Pacific and Middle East markets.
Chamber bring to Thales UK? What are your ambitions for the company’s future?
As a major French company, we have a social obligation to
First and foremost, to deliver for our customers. We have
participate. Being a member of the French Chamber gives us
some really big programmes underway at the moment, such
the ability to engage with potential suppliers and it helps us to
as our work on the Queen Elizabeth-class aircraft carriers
engage politically. The close relationship between France and
and the roll out of the London Underground new signalling
the UK is very, very important for us, and the French Chamber
plays an active role in facilitating that and maintaining the
Delivery of these large projects is an important priority
pace of dialogue. I Interview by JH
THALES UK FACTS AND FIGURES • Global employees: 64,000 in 56 countries
• UK employees: 6,500 across 12 sites
• Global R&D investment: €731m
• UK R&D investment: £50m
• Global revenue: €15bn in FY2016
- july / august 2017 - 15
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EQUIPMENT SERVICES APPS CONSULTING
A N A LY S I S
Mazars warns millennials need £1m pension pot Millennials will need a £1m pension pot to fully retire, according to research by international advisory and accountancy firm Mazars
ne-third of millennials – those born between 1982 and
years in retirement that have to be financially supported is at
2000 – believe that they face a future where they will
its highest too.
never have the opportunity to give up work completely. The
Life expectancy at age 65 has increased markedly. It is
findings, based on a survey of 2,000 UK adults conducted
expected that those hitting 65 in 2040 will live another 24
by OnePoll on behalf of Mazars, revealed that millennials’
years on average, almost double the life expectancy in 1981.
anticipated retirement age is 63.
Yet, the number of people living with three or more long-term
Therefore, a 24-year-old earning around £24,000 a year
health conditions is expected to reach 2.8 million by 2018 – a
today would need £1m to fund their retirement and maintain
50 per cent increase in just 10 years. On average, the ability to
a standard of living until they were 80 for men or 85 for
conduct our lives begins to be limited by health issues at the
women. This calculation is based on average life expectancy
age of 62 for men and 60 for women.
figures and assuming an average salary growth of 3.6 per cent and a retirement income of 50 per cent of final salary.
The working retired
‘Changes to pension structure, the closure of final salary schemes and the erosion of tax benefits have had an effect on the public’s view of pensions that could impact on future generations,’ said Liz Ritchie, Partner at Mazars and Head
Mazars estimates that by 2040 there could, conservatively,
of Private Client Services. ‘£1m is a realistic figure but, at the
already be two million ‘working retired’ – that is, adults
same time, will be very daunting.’ I
employed over the age of 65. In reality, if recent increases in older workers are repeated, the figure could be much higher and the country could face a generation that may never retire. The expectation of working in retirement is 50 per cent
Read more on millennials in our Focus, starting on page 24.
How do you plan to fund your retirement?
higher among 18-24 year olds than those who are nearing, or already in, retirement – this means up to four million over 65s in the workplace by 2056. Britain currently has 1.2 million ‘working retired’, which is one in ten people. The so-called ‘Flat Age Society’ shows a new consumer mindset, where people refuse to slow down just because they have reached the traditional age of retirement.
Healthy life expectancy Improvements to healthcare mean that life expectancy in the UK has never been higher and, consequently, the number of
- july / august 2017 - 17
BUSINE S S WOR LD – NE WS AND ANALYSI S
De Beers to invest in start-ups
easyJet launches eight new international routes
European airline easyJet launched eight new international routes and two domestic services from seven airports in France, Italy, Portugal, Switzerland and the UK in June – the shortest route being the 435km hop from Zurich to Nice and the longest being the 2,272km operation from London Gatwick to Varna (Bulgaria).
Atos teams up with Safran De Beers Group has announced the creation of De Beers Ventures, which will focus on acquiring minority equity stakes in start-ups and growth companies. The new initiative will consider small investments in areas that may include downstream distribution, consumer brands, marketing platforms, security, cutting and polishing and imaging technologies. The objective of the investments will be to generate returns that are both strategic and financial, the group explained. ‘Not all good ideas can be generated or executed by a large corporation,’ commented Tom Montgomery, Senior Vice
Digital transformation leader Atos has been selected by aeronautics and aerospace firm Safran as its partner to optimise datacentres worldwide. The four-year contract runs until 2021. ‘With this contract, we are aiming to rapidly transform our entire information system over the cloud. The collaboration between the Safran and Atos teams will help us spring into this new era,’ said Thierry Milhé, VP International Production of IT services at Safran.
President of Strategic Initiatives for De Beers Group. ‘We believe that harnessing the energy of entrepreneurs to pursue strategic opportunities that benefit De Beers and the diamond industry can be a cost-effective, risk-reduced way to pursue innovation.' I
Turenne Consulting to advise French Embassy on relocation Consultancy firm Turenne Consulting has been appointed by the French Ministry of Foreign Affairs to advise on the planned relocation of the French Embassy and Consulate in London. The long-awaited project, a complex relocation scheme, will enable the French Embassy and Consulate’s 260 diplomatic staff to be grouped into a modern, secure and operational building. The sale of the Embassy’s existing premises will only take place once the location for the new headquarters has been decided, the consultancy firm explained. ‘The property search is in progress and includes high specifications and requirements, such as security and accessibility,’ explained Frédéric de la Borderie, Founder of Turenne Consulting. ‘This prestigious appointment strengthens Turenne Consulting’s key focus on office relocation and expansion projects for educational and institutional clients.’ I
18 - info - july / august 2017
AXA launches new business unit
AXA has launched a new business unit dedicated to customer innovation and new business models, which will be led by Joyce Phillips as CEO. The new business unit will operate on a global level with dedicated resources, including existing ventures such as AXA Partners, AXA Strategic Ventures and Kamet. In the UK, this will allow AXA to continue to coordinate and manage its digital and innovation initiatives while leveraging the wider global activity, the company said.
NE WS AND ANALYSI S – BUSINE S S WOR LD
LVHM buys Christian Dior for €12bn LVMH, the world leader in luxury goods, has taken total control of Christian Dior in a deal worth €12.1bn in cash, folding the 70-year-old Parisian fashion house’s operations into its luxury empire. Bernard Arnault, the CEO of LVMH, and his family already controlled a 74 per cent stake in Dior. In the new deal, the Arnault family has offered to buy out minority investors in Christian Dior SE for €260 per share, uniting two of the most iconic fashion brands under one roof. LVMH already owns a stable of luxury brands including, of course, Louis Vuitton, but also Givenchy, Céline, Fendi, Thomas Pink, Marc Jacobs and many others. ‘This is an operation that shows our confidence in the French economy as well as in LVMH going forward,’ said Bernard Arnault at a press conference announcing the deal. ‘It will allow us to increase the synergies that already exist between LVMH and Christian Dior Couture.’ LVMH, 47 per cent controlled by the Arnault family, already owns Dior perfumes and beauty. While Bernard Arnault is CEO of LVMH, his children are also heavily involved
This is an operation that shows our confidence in the French economy as well as in LVMH going forward
in the business: Antoine Arnault oversees Italian coat-maker
LVMH’s fashion and luxury goods division thanks to the
Loro Piana, Delphine Arnault is a top executive at Louis
acquisition of Christian Dior Couture, one of the most iconic
Vuitton and Frédéric Arnault is the joint CEO of premium
luggage firm Rimowa, which LVMH acquired last year. ‘This project represents an important milestone for
‘This illustrates the commitment of my family group and emphasizes our confidence in the long-term perspectives of
the group,’ Bernard Arnault added. ‘The corresponding
LVMH and its brands. I am delighted to announce this project
transactions will allow the simplification of the structures,
and thus continue and reinforce the development of LVMH in
long requested by the market, and the strengthening of
France and worldwide.’ I
EDF Energy acquires engineering firm Imtech
EDF Energy Services, a joint venture between EDF Energy and Dalkia, is acquiring engineering service company Imtech. Imtech employs more than 2,100 people, generating revenues of over £400m per year delivering mechanical and electrical engineering services. ‘As the UK’s leading generator of low-carbon electricity and a major supplier to businesses, the addition of Imtech is a significant step in the development of energy services and low-carbon solutions for our valued customers,’ said outgoing EDF Energy CEO Vincent de Rivaz, who is stepping down from the group at the end of October this year. I
American Express Global Business Travel buys events agency
American Express Global Business Travel (GBT) has announced its acquisition of London-based international event management agency Banks Sadler, which will operate as part of American Express Meetings & Events, a division of GBT. ‘Banks Sadler is one of the most respected meetings and events brands. Combined with our leading capabilities and global footprint, our clients will benefit from an expanded value proposition,’ said Issa Jouaneh, Senior Vice President and General Manager of American Express Meetings & Events. I
Pinsent Masons snaps up specialist diversity firm
Law firm Pinsent Masons has acquired leading diversity and inclusion consulting firm Brook Graham for an undisclosed sum, to expand into new sectors and territories. Both Pinsent Masons and Brook Graham will continue to operate as separate businesses. ‘The company has an excellent track record in terms of investments in companies and Brook Graham’s strong reputation and impressive client base matches our international network, legal expertise and dedication to diversity and inclusion,’ said Senior Partner Richard Foley. I
- july / august 2017 - 19
BUSINE S S WOR LD – SME NE WS
The Disruptive Group launches Centre for Finance, Technology & Entrepreneurship
Devialet unveils first immersive room
nnovative sound start-up Devialet has opened its first ‘immersive room’ in the heart of London’s St Pancras Station,
he Disruptive Group has launched The Centre for
enabling the public to experience the company’s immersive
Finance, Technology & Entrepreneurship (CFTE), an
listening experience. The launch is an important step in the
education platform for the finance industry. Led by Tram Anh
company’s UK retail plans, which will see a number of further
Nguyên and Huy Nguyên Triêu, and supported by dozens of
launches in the coming months. ‘St Pancras is the place where
experts, the CFTE is a platform to help finance professionals
London and Paris meet, making it the perfect location for
adapt to a tech-led world.
our new UK store,’ said Victor d’Allancé, General Manager of
‘We are building a platform to help finance professionals
Devialet UK & Ireland. I
learn Finance 2.0 so that they can upskill, adapt and build better finance. Whether it’s AI, blockchain, big data or design thinking, this will be the place to go, both online and in class,’ said Tram Anh Nguyên, Co-founder of The Disruptive Group. I
Macron opens largest start-up campus
rench President Emmanuel Macron has opened Station F, the world's largest start-up campus. The 34,000m2 space – built inside the Halle Freyssinet railway depot in Paris's 13th arrondissement by French billionnaire entrepreneur Xavier Niel – will accommodate around 3,000 people working for more than 1,100 start-ups and 20 VC firms. Opened at the end of June, founding partners include Facebook and Microsoft. I
Qare launches French telemedicine portal
C4 Ventures invests in Clippings
n-demand virtual medical practice Qare has launched in the UK, providing French residents with unlimited access
to an exclusive network of French medical professionals.
uropean venture fund C4 Ventures, founded by former VP and GM of Apple EMEIA Pascal Cagni, has led a £2.8m
investment round in Clippings, an online contemporary
Covering more than 10 specialities including paediatrics,
furniture and lighting start-up. Founded in 2014 in London
dermatology and dentistry, Qare enables patients to access
by entrepreneurs Adel Zakout and Tom Mallory, the company
French medical professionals via online video. ‘We have
said that it would use the Series A round to accelerate its
strategically launched in London, which is a mature market
vision of using technology to revolutionise the interior design
for telemedicine, but also because of the high number of both
French nationals and French-speaking doctors living in the city,’ said Nicolas Wolikow, Qare Co-founder. I
20 - info - july / august 2017
SUCCE S S S TORY – BUSINE S S WOR LD
A bridge to Europe
Celebrating its 34th anniversary this year, business development specialist Frenger International continues to act as a bridge between the continent and the UK, helping corporates expand internationally
ean-Noel Mermet founded Frenger International in 1983 as an export market consultancy firm, helping SMEs export
between France, England and Germany (hence the name). Thirty-four years later, the company has become a European leader in international corporate development, employing 25 specialists in buy-side M&A advisory, setting up and managing of foreign subsidiaries and foreign direct investment consulting services. The turning point in the company’s growth was Mermet’s decision, in the 1990s, to pivot the group’s services on helping larger, corporate organisations rather than SMEs. Today, Frenger’s typical client will turn over between
It is the company’s expertise in Franco-British transactions
€200m and €2bn and will target acquisitions between
that makes Frenger stand out from the crowd. The UK market
€5-100m of enterprise value. Its client list includes some
is the most competitive in Europe with more than 3,000 M&A
of the largest Franco-British groups, including Air Liquide,
transactions per year, compared to around 1,000 in France.
ArcelorMittal, Descours & Cabaud, Engie, Sopra Steria and
‘It’s a highly liquid market with a huge amount of
others (many are repeat clients). It is no surprise, then, that
competition. Our French clients are often shocked by the
Frenger International was awarded the French Chamber’s 2017
pace of the negotiations because the buyer is very much in
Intercultural Trophy – the business exudes cross-culturalism.
the driving seat in France. This isn’t the case in the UK: if you
‘In the mind of a lot of our clients, the strategic choice between an acquisition and implanting yourself in a country is
don’t move quickly, the company you are talking to will be approached by someone else and that will drive the price up.’
not a very clear line – so we help them to navigate through the options before implementing the chosen one,’ explains Mermet.
The company’s M&A advisory business continues to be
Mermet says that Brexit has not yet led to a slowdown in M&A
Frenger’s core business – and also its fastest-growing service.
transactions for Frenger. French companies are still interested
‘We provide a service that it is highly innovative in the way
in investing in the UK. Regardless, Frenger has put into place
that we deliver it. We are the only M&A boutique, that I kno
a plan to mitigate any potential adverse effects from Brexit.
w of, that is 100 per cent focused on helping its clients buy
Mermet intends to balance Frenger’s focus from French
businesses that are not officially for sale. Investment banks
companies transacting in the UK to increasingly helping British
aren’t interested in this buy-side corporate finance service as it
companies that are keen to reinforce their presence in the EU.
is too risky and our transaction values are too low for them.’
‘We have always offered a two-way service. Our expertise is not just in M&A in the UK; we also do business in France,
Frenger’s USP: full service and expertise
of course, but also in Germany, Benelux and Scandinavia,’ he
Frenger offers a cradle-to-grave service: from researching
says. ‘We are going to build on that over the next few years.’
potential targets, to approaching the companies, undertaking
In addition, most of Frenger’s clients provide services to the
the financial analysis and managing negotiations, through to the
local market. ‘Regardless of Brexit, there will still be 65 million
supervision of due diligence and monitoring the final stages of a
consumers in this market,’ he explains. ‘The exchange rate has
transaction until the contract is signed and the money paid.
also made UK acquisitions more attractive. There are no signs of a slowdown as of yet.’ I JH
‘Frenger’s success has been built upon offering this complete service, which is very helpful for companies that are taking their first steps through acquisitions,’ he says. ‘We adapt to the clients’ needs – some need less support if they have inhouse teams, for example.’
Launched in: 1983 • Team: 25 Typical deal size: €5-100m info
- july / august 2017 - 21
E DUC ATION – NE WS
HEC Paris launches online master in entrepreneurship HEC Paris has launched its first groundbreaking online
risk factors through utilising decision-making skills.
international degree programme – a Master’s degree in
‘This new online degree answers the needs of the ever-
Innovation and Entrepreneurship, launched in collaboration
changing and rapidly-evolving world of business,’ said HEC
with leading online education platform Coursera.
Paris Dean Peter Todd. ‘Participants will leave the programme
With a curriculum based on stackable credentials,
ready to launch their own venture or to innovate within their
participants can choose a single course, decide to specialise
existing organisations. This is a unique opportunity to earn
in one programme or even embark on a full-fledged degree.
an HEC Master’s degree and join the exclusive HEC Alumni
Students will acquire the skills of understanding how to
combine talent and capital, manage rapid growth and reduce
Students will work in teams over a six-month period on a project of their choice, from the planning stages to bringing the idea to life. They will also receive mentoring from experienced entrepreneurs and business leaders who will meet them once a week. Successful graduates will then be able to move their respective project into its next phase by applying for seed funding from HEC Paris and have their project come to fruition at HEC’s incubator, based at start-up campus Station F. The programme itself will be as selective as all of HEC Paris’ other degrees. Designed with flexibility in mind, it allows prospective students to begin their learning instantly on the Coursera platform through open enrolment specialisations. The first intake of students will begin classes in September this year. I
French business schools top global rankings
ESCP Europe launches master in big data
According to the latest Financial Times rankings, released
Business school ESCP Europe has announced the September
in June, French business schools offer the best Masters in
2017 launch of its one-year, full-time Master in Big Data and
Finance degrees in the world. Edhec Business School, HEC
Business Analytics. The course will be taught in English and
Paris, Essec Business School and ESCP Europe took the top
includes an international seminar in China plus an online
four rankings, followed by MIT’s Sloan School of Management.
module. The programme will look at business-critical areas
The rankings are calculated according to two surveys: one
including data science and modelling, business intelligence,
completed by the business schools and another by their
data-driven managerial decision making and performance
alumni. There are 17 criteria factored in total, including
improvement. ‘ESCP Europe’s aim is to develop the next
salaries, diversity, international mobility and others. I
generation of transnational business leaders who are ready to embrace the opportunities offered by new technology and cultural diversity,’ said Frank Bournois, Dean of ESCP Europe. I
ESSCA introduces fintech master’s degree ESSCA School of Management is launching a new master’s degree in financial innovation and fintech this autumn. The programme will look at the fundamentals of finance and will include new financial technology in its curriculum – such as the internet of things, big data, the blockchain and artificial intelligence – through partnerships with fintech leaders. I
22 - info - july / august 2017
R E PORT S & R E SE ARCH – BUSINE S S WOR LD
A selection of research papers and reports produced by Chamber member companies and partners
CBI: Adopting the future How ready are companies to adopt – and adapt – to new digital technologies? The CBI’s latest report, Adopting the future, explains why businesses must be forthright, bold and honest in developing solutions to the coming challenges of artificial intelligence. To become a world leader in this, the UK must embrace digital and not lag behind. Looking at the future of work in the digital age, the CBI identifies four measures for business and government to adapt to artificial intelligence successfully: be proactive; create an industrial strategy; increase investment in R&D; set up a commission to examine the impact of new technologies. Adopting the future: Digital Adoption Survey – May 2017 Available at: bit.ly/2qGzzkk
Deloitte: Next generation family businesses Long-term trends, driven by public policy and exponential rates of change in digital infrastructure, are fundamentally altering the global business environment. In this disruptive environment, family businesses need to challenge themselves – and this is an important responsibility for the next generation of family business leaders. The research, based on interviews with 268 family-owned companies, offers compelling strategies for anticipating disruption and overcoming the challenges associated with family businesses. Next generation family businesses: Leading a family business in a disruptive environment – May 2017 Available at: bit.ly/2qBuN8x
EY: Investors vote ‘remain’ in Europe Every year, EY’s European Attractiveness Survey provides powerful insights for foreign investors, policymakers, citizens and all who care about the future of Europe. This year’s edition could hardly be more pertinent. EY’s latest report shows how, in 2016, international investors launched more projects in Europe than ever before, creating one-quarter of a million jobs. The economic trends and data show that much of Europe has returned to steady growth and the outlook is brightening, despite the political turmoil surrounding Brexit. Discover the opportunities that Europe offers in this report. Investors vote ‘remain’ in Europe – May 2017 Available at: bit.ly/2rbHvxt
- march / april 2016 - 23
WHO ARE THE
hey are the largest, most-diverse and best-educated generation in history and they are keen to make their mark. They stand out for working very differently to their parents, bringing distinctive skills, goals and expectations into the workplace. Who are the millennials, and how are they radically transforming the world of work? Born between 1980 and 2000 – making them aged between 17 and 37 today – millennials are set to make up threequarters of the UK workforce by 2025. The requirement for business leaders is therefore clear: adapt or die. Much has been written already about millennials’ aspirations, attitudes and needs: they are entrepreneurial, tech savvy and idealistic. They also like to take risks, act boldly and are fired up by a desire to change the world. Their identity is reflected in their workplace wants: they desire their employer to do good – not just focus on financial returns. Millennial attitudes can impact other groups. They do not expect organisations to task the senior levels with the ‘thinking and deciding’ and the junior levels with the ‘doing’. Millennials don’t work for you; they work with you, and this requires a new mindset. This is a generation that is not afraid of speaking its mind when it disagrees, which can unsettle traditional managers who are accustomed to hierarchical structures and rigid organisation. If a millennial is not happy with his or her boss, they will seek out their next opportunity – research shows that the number one reason millennials leave their job is because of their boss. Their
24 - info - july / august 2017
loyalty is to their values, not to their pay check. For businesses, this has created a perfect storm, which is leading to a revolution within the workplace, affecting organisations of all shapes and sizes. Now is the time to act. The good news is that many companies have already taken positive steps to adapt. Variable hours, flexible working and non-traditional workspaces are becoming the norm. Many employers are already making their millennial workforce feel supported and valued, which leads to them developing a stronger relationship with their company. But much work remains and, as more millennials take up leadership positions, the workplace will continue to evolve. As you will discover across the Focusâ€™s 20 pages, the key to working with millennials is adaptability. Enlightened employers are open to changing their business to meet millennialsâ€™ needs as they know that it will deliver clear benefits to the business, the workforce and to the wider economy. From interviews with experts and business leaders to contributed articles from large industrial players and start-ups and a look into the future of the workforce, we hope that this Focus will help you to better understand millennials and leave you with practical, implementable ways for better embracing them within your company. I JH
- july / august 2017 - 25
MILLENNIALS IN NUMBERS Generation Y is the largest generation yet
Born between 1980 and 2000
16 million in the UK
2.5 billion worldwide and the most ethnically and racially diverse generation
GREW UP ALONGSIDE TECHNOLOGY
Have high expectations Achievement oriented
Source: Goldman Sachs
MILLENNIALS SET TO MAKE UP 75% UK'S WORKFORCE BY 2025
UK MILLENNIALS ARE DUE TO HIT THE
50% BY 2020
IN THE COMING YEARS
16m MARK BY 2019
Millennials want to be in a place where they own their career trajectory. It's not that they want to be a CEO tomorrow, but they want a seat at the table and want to feel like they're part of something Mike Maughan, Head of Global Insights, Qualtrics
OF MILLENNIALS SAY THEY'RE SATISFIED IN THEIR CURRENT JOB
EXPECT TO CHANGE JOBS IN THE NEXT 12-18 MONTHS
Source: Accel Partners
Source: Accel Partners / Qualtrics
IN THE PAST FIVE YEARS, MILLENNIALS HAVE HAD ON AVERAGE
THAT'S A JOB SWITCH EVERY 26 MONTHS!
26 - info - july / august 2017
of millennials say that their job is an important part of their life â€“ a rate higher than older generations
Just of UK Millennials rank 'aspiring to leadership roles' as a top career priority Source: Manpower
A quick guide to generations BABY BOOMERS Born after WWII, Baby Boomers grew up in a world with lots of potential opportunities, making them an affluent generation
GENERATION X The 'MTV generation' was the first to not see continuous improvement in quality of life; subsequent anger/rebellion was reflected through music, with punk, rock, metal and grunge
GENERATION Y / MILLENNIALS The Internet Generation – the largest generation in history. Typically tech savvy, progressive and keen to impact the world in a positive way
Adolescent and always with a screen, Gen Z-ers have been saturated with advertising. They are the most tech savvy and are very much influenced by vloggers and internet celebrities Source: Manpower
Millennials at work Younger employees have different expectations and opinions about their work
50% Half of Millennials would rather have no job than have a job they hate
Source: Red Tree Consultancy
3 out of 5 millennials feel that they will switch jobs in less than 5 years
80% 4 out of 5 millennials want regular feedback from their boss
25% 90% 1 out of 4 millennials say they are completely satisfied with their current job
9 out of 10 millennials think they deserve their dream job
4 out of 5 millennials think that they deserve to be recognised more for their work
One-third of millennials prefer recognition from their boss / coworkers or a promotion over higher pay
7 out of 10 millennials say they need ‘me time’ at work
- july / august 2017 - 27
Meet the ‘Gen Y Guy’ Jason Dorsey, Co-Founder, The Center for Generational Kinetics INFO meets Jason Dorsey, Co-founder of The Centre for Generational Kinetics, to discuss the latest management strategies for adapting to millennial employees Why is it so important for businesses
live without it. For employers, this means
to focus on millennials?
you want to use technology that is easy
up the conversation using hard data.
Millennials now represent the majority
to use and that everyone can access
Most of the companies I work with are
of the workforce, so this is not an
quickly. How simple can you make it so
always shocked to discover how many
employment group that you can ignore.
that it just works?
millennials they have.
As baby boomers continue to
It’s a healthy first step as it opens
Second, many millennials will decide
age out of the workforce, millennials
whether they can stay with an employer
When adapting your management style
will continue to be more and more
in the long term within the first week. So
to millennials, how can you ensure you
important – and not in the entry-level
if there is one area to focus on, in order
do not alienate other generations?
positions that many people assume;
to drive retention and performance, it’s
It is important not to coddle millennials.
but certainly in management and
their first week of work – not the first year.
You must drive accountability
leadership positions. It’s happening
That’s where you have to make an impact
throughout the entire organisation.
very quickly; must faster than many
in terms of training and expectations.
This means training millennials on
people recognise. On the flip side – on the consumer
Finally, remember that millennials are
how to work with other generations as
not eternally 25 years old and living with
much as the reverse. It’s about meeting
and client side – millennials now
their parents; they’re 35 and having their
in the middle to create a sense of
outspend every other generation
own kids now. This often catches people
accountability and fairness – ‘we’re all in
and are increasingly the business-
off guard. The millennial generation has
to-business decision makers as well.
grown up and your management style
Millennials are now the ones driving the
must adapt to this.
ultimate purchasing decisions.
Companies such as Amazon or Google have all those crazy perks, but most companies can’t create that work
What is the first step that businesses
environment. What are the things that
What differentiates millennials from
should take today?
fit into your culture, into the personality
To start, employers should create a
of your office? What are your values and
The first thing to understand is that
‘generational snapshot' to understand
what are the things that you do to align
millennials are not tech savvy; they are
their workforce. Compile all of the
with that? This is how you build a better
tech dependent. This is important to
birth years of your employees and
work environment for all generations.
understand, as it means that millennials
segment them into generations, then
It has to be a multi-generational
don’t necessarily know how technology
create a pie chart that shows the
works – they just know that they cannot
Millennials need continuous, snap feedback to stay engaged. If you only conduct an annual review, you can call it an exit interview 28 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
Looking beyond millennials, what does
order to get promoted, which is the
the next generation look like?
opposite of how millennials entered
attributes are great for their
Generation Z is going to have a
the workforce. We also see that
generation, but they could also be
massive impact. Our research centre
Generation Z is much more frugal with
terrible for millennials. Generation Z is
is studying this generation very closely
their money. This is important, as it
prepared to come in and take any job
as they are so different to millennials,
gives them more mobility – they have
available, they are more conservative
both as employees and as consumers.
with their money and they are willing
For example, Generation Z seems
Finally, the third thing we see is
What this means is that their
to adapt to the work environment. As
to have lower expectations upon
that Generation Z is more willing to
a result, Generation Z could actually
entering the workforce. They already
accommodate other generations’
end up leapfrogging some millennials
expect to work harder and longer in
in the workforce. I Interview by JH
If there is one area to focus on, in order to drive retention and performance, it’s their first week of work – not the first year. That’s where you have to make an impact in terms of training and expectations
T H R E E WAYS TO K E E P M I L L E N N I A L S E N G A G E D The good news is that millennials are the most consistent generation: a management style that works to engage millennials in one country, works in all. There are scalable solutions that businesses can take to tackle a large challenge, which is not the case for boomers, who are much more localised.
1. Offer specific visual examples This is the most important thing you can do to drive retention and performance: provide specific examples of the performance that you expect. Employers want their workforce to communicate, to solve problems, to interact with customers in a certain way, but what does that mean? Provide specific examples up front to help them learn faster. This will save managers a lot of time and allows you to then hold your employees accountable, which is ultimately what you want. Millennials are almost entirely visual learners, so provide videos and photos to avoid anything getting lost in translation.
2. Provide snap, ongoing feedback In many organisations, millennials feel that they do not get enough feedback at the right frequency. Millennials need continuous, snap feedback to stay engaged. If you only conduct an annual review, you can call it an exit interview. People often think millennials are ‘needy’, but that’s not true; they need more feedback, but it can be really short – a 30-second conversation every two weeks will do a great job of keeping them on track. If they don’t get that feedback, they think they’re doing a bad job.
3. Focus on talent development Millennials expect their employer to be willing to invest in them, in order to develop their skills. If they feel that their employer is not doing this, they’ll often think that the employer does not have long-term plans for them – after all, why would you keep someone if they’re not developing their skills? I JD
is an entrepreneur and the Co-founder of The Center for Generational Kinetics, a research,
speaking and consulting firm on millennials and Generation Z. Having written his first bestselling book at age 18 (Y-Size Your Business: How Gen Y Employees Can Save You Money and Grow Your Business), Dorsey has become the most sought-after millennials and Gen Z researcher and speaker, helping companies to solve generational challenges through his research and results-based consulting. Clients have included industry leaders such as Hyatt, American Express, Cisco, GE, Toyota, Visa, Four Seasons Hotels and many more.
- july / august 2017 - 29
Meet Mr and Five generations in the workplace means five different attitudes and expectations, writes Alexis de Bretteville, Chief Executive Officer Europe for Hudson Talent Solutions
any organisations now have as many as five
Right here, right now
generations working alongside each other, with the
Just as organisations are having to respond to customer
newer generations bringing with them attitudes that
expectations around the ‘on demand’ economy, so, too,
challenge conventional thinking around work, recognition
are they having to meet similar demands from their
younger workers. This is a cohort that cannot remember life without the
On top of that, add in demographic changes – as many as a third of workers will retire in the next ten years – and it
internet, email, Google, texting and social media. Their
is inevitable that the workplace of the future is likely to be
preferred method of communication is email, not face-to-face.
completely unrecognisable to the baby boomer leaders of
They build social networks online, amassing thousands of
today. By 2020, those born after 1980 – millennials – will make
connections and challenging the very concept of ‘friendship’.
up around 50 per cent of the global workforce. By 2025, they
They demand instant access to bite-sized information –
will account for 75 per cent of all workers.
thanks to channels such as Twitter, which limits the number of
Hudson’s research indicates strongly that many
characters in a post – and consume information from a
organisations are radically rethinking their entire approaches
variety of sources online. They are accustomed to see and
to structure, leadership and people management. Far from
use animation, video content and infographics to bring
thinking in terms of the ‘future of work’, they recognise that
messaging to life.
the ‘New World of Work’ is here and are evolving their businesses accordingly. In this context, the biggest challenge for business leaders
Live to work or work to live? There has been much debate in recent years around the
– likely to be baby boomers or Gen X at this point – is not to
concept of work-life balance. This is a high priority for baby
assume that other generations share their values, attitudes
boomers and Gen X, who seek to compartmentalise their lives
into work and life. For the newer generations, work is a significant part of their
Understanding what makes the new generations ‘tick’ and adapting organisational structures, leadership styles
lives but the boundaries between work and life are blurred.
and processes or policies is emerging as a key issue for
Rather than think in terms of ‘balance’, they think in terms of
organisations looking to attract and retain talent.
‘integration’. They value remote working options – whether
GEN Z / DIGITAL NATIVES
Loyalty and authority
Community loyalty. Cynicism and mistrust of authority
Team and personal goals
Learning and growth
Security. Learning and growth
Personal and performance
Personal results and fun
Speed of career growth
Speed of career growth
For doing the job
Results and contributions
Reward for learning and knowledge acquisition
Reward for learning and knowledge acquisition
Job security. Company success. Lives to work
Work defines self. Lives to work.
Work-life balance. Works to live.
Work-life is blurred.
Makes no distinction between work and life.
30 - info - july / august 2017
Mrs Millennial By 2020, those born after 1980 – millennials – will make up around 50 per cent of the global workforce. By 2025, they will account for 75 per cent of all workers
working from home or the local coffee shop or another so-
Alongside this, their concept of learning and development
called ‘third’ space – and expect the workplace to have some of
is heavily influenced by their digital upbringing – also known as
the comforts that they might enjoy at home.
the ‘Google’ effect.
A sense of purpose
them to build their knowledge quickly, remotely and on
The blurring of lines between work and life also manifests itself
their own terms is their preference over structured learning
in a wider sense of community in the younger generations.
Real-time, on-the-job, always-on learning that allows
Millennials do not necessarily see work in terms of being successful and making money. It is also about working somewhere that aligns with their values, where they can
Aligned with this is a strong preference for regular, informal feedback over more structured annual appraisals.
identify with the social and environmental benefit of their work
Challenging the traditional employed model
and feel part of the positive impact their employer is making.
For Generation Y and the digital natives, ‘work’ does not
Understanding both their own and their organisation’s
necessarily mean the traditional employment model.
‘purpose’ is a key requirement for them.
According to our research, 16-to-34 year olds are far more open to the prospect of freelance or contract work and
Experiences over career paths
portfolio careers than other generations:
Younger generations struggle with the concept of a career path based upon progression by job title (particularly within a
Likely to freelance in the near future
Likely to contract in the near future
Likely to have a portfolio career in the near future
defined function). Instead, they think in terms of a sequence of experiences and crave responsibility early on, as Hudson research shows: WHAT IS IMPORTANT IN YOUR CAREER? 16-34 yrs
Broader experience in current role
More specialist experience
Experience in other roles in the company
To work for a company with shared values
Source: Hudson Talent Trends 2016
The biggest challenge for business leaders – likely to be baby boomers or Gen X at this point – is not to assume that other generations share their values, attitudes and expectations
Source: Hudson Talent Trends 2016 info
- july / august 2017 - 31
How are organisations responding?
horizons accordingly. Becoming more agile and flexible is now
If having newer generations challenging the status quo was
a business requirement.
not enough, there are two other megatrends that are driving disruption and organisational transformation:
These factors are prompting organisations to radically rethink their entire approach to structure, leadership and employee engagement.
1. Exponential technology change: Whole industries
What is emerging (or in many cases has emerged) is a
are being disrupted by the pace of technological change and
new type of organisation: flatter, more agile – with alignment
the rise of disruptive competitors.
around a common purpose. Employee empowerment and
Customer and employee expectations have changed, with the ‘right here, right now’ attitude permeating all areas of life. And the ubiquity of social media means that nothing remains
collaboration are the norm. Is your business prepared to confidently welcome Mr and Mrs Millennial into your workforce? I AB
secret. With social networks helping to overthrow governments (as seen in the Arab Spring, for example), employers are increasingly waking up to the potential damage social media can have to their organisations.
2. Political, social and economic change: Originally used by the military, the acronym VUCA (Volatility, Uncertainty, Complexity and Ambiguity) is now more widely used to describe both the global political and economic landscape and the environment in which businesses operate.
For the newer generations, work is a significant part of their lives but the boundaries between work and life are blurred. Rather than think in terms of “balance”, they think in terms of “integration”
Organisations are increasingly asking themselves what the future might hold and are having to adapt their planning
CHARACTERISTICS OF THE 'NEW WORLD' ORGANISATION Purpose driven
A clear vision and purpose that engages employees, customers and stakeholders.
Responds rapidly to customer needs and market developments. Executes quickly and learns from failures.
Flat structures, fluid teams and an absence of silos drive greater collaboration, openness and transparency.
Employees are empowered to make the right decisions in real time, without the need for continuous guidance.
An ecosytem of relationships both inside and outside the organisation.
32 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
MILLENNIAL BUSINESS NEEDS Millennials have the ability to make or break your workforce. How can business leaders adapt to – and make the most from – this new generation? A good start is to consider their needs
their manager, it is vital that you are
between 1980 and 2000 –
approachable and positive. This is about
are set to become the largest
more than just an open-door policy;
engage directly with each member of
already make up more than half of
your team as often as possible,’ he
the UK workforce and, by 2025, will
says. ‘You must create and maintain an
account for 75 per cent – with many
environment of trust, transparency and
sitting in management positions. This
is fundamentally changing the world of work, and businesses must respond
Move up or move out
accordingly in order to attract and retain
Catering to the needs of millennials
talent for the long-haul.
‘Millennials will shape the world
world of work, adds Anne-Marie Malley,
of work for years to come,’ says Andy
UK Human Capital Leader at Deloitte.
because engaged employees are more
‘UK organisations are reinventing their
productive, making it a win-win for all
Director at employee benefits experts
internal models to innovate, compete
concerned,’ he adds.
Edenred. ‘Attracting and retaining the
and thrive, but many issues still remain.’
The risk of ignoring millennials'
best of them is critical to the future of
In particular, lack of engagement is
needs is that they will leave. This is a
an issue that businesses must tackle.
real issue: previous generations viewed
The particular characteristics that
‘In an ever-competitive labour market,
their careers as long-term at one or two
define millennials – their ambition,
in order to attract and retain talented
companies, but not so with millennials.
their desire to keep on learning and
employees, it is crucial that business
The average tenure of a ‘baby boomer’
make quick progress, as well as their
and HR leaders focus on enhancing their
employee at a company is seven years.
reluctance to put up with a situation
organisation’s working environment and
This falls to five years for a Generation
that they’re not happy in – requires a
experience,’ says Malley.
X worker. The average term for a Gen Y?
considered, focused approach from employers, he believes. ‘Rigid corporate structures and a silo mentality won’t wash,’ Philpott explains.
Philpott agrees: ‘Never before has
Two years. If millennials cannot grow
the role of the manager been more
within your company, they will grow out
important in engaging and motivating a
of your company.
Millennials change jobs more than
‘Millennials want a management style
This means ensuring that work is
any other generation in history – indeed,
and corporate culture that is markedly
something that millennial employees
flexibility is one of their calling cards.
different from anything that has gone
enjoy, complementing their life outside
Businesses must adapt and accelerate
before – one that meets their needs.’
of work. ‘While this type of employee-
their engagement programmes to the
What does this mean for businesses?
focused environment may seem like
new business in order to retain their
It must start with solid leadership. ‘As
an indulgence, it’s good for business
workforce for the long term. I JH
The average tenure of a ‘baby boomer’ employee at a company is seven years. This falls to five years for a Generation X worker. The average term for Gen Y? Two years. If millennials cannot grow within your company, they will grow out of your company
- july / august 2017 - 33
Attracting millennials How can large corporates attract millennials into their workforce? Marguerite Ulrich, Chief Human Resources Officer at Veolia UK & Ireland, shares her lessons
eoliaâ€™s business depends upon us maintaining a multi-skilled workforce and growing this in line with our own development. To deliver the workforce we need, where and when we need it, we have to be able to
attract the staff of the future and meet their needs by offering them a career path that can provide opportunities. A number of key points were raised by a survey that we conducted across our own millennials, in order to find out how we could meet their needs. Millennials have grown up in a culture of communication backed by seemingly endless ways of achieving instant dialogue. To meet their expectations, the survey showed that managers needed to be open to giving and receiving feedback. We know that this will take time to embed into our organisational culture, so to help accelerate the process, a reverse mentoring pilot is underway, where we have partnered millennials with an Executive Committee member to set the scene for a two-way learning experience. The second key finding was that we need to offer different ways of working â€“ such as agile working or flexible working arrangements. To explore how we can achieve this, we launched a second pilot scheme, with our corporate finance team of 20 people in London. This has shown some benefits both from a business and a personal standpoint.
Modern attraction methods In order to increase our ability to attract millennials, we are overhauling our digital attraction strategy. This has enhanced our graduate and apprentices career website and has helped us develop modern attraction methods. We have also created an online talent community, called Career Pathway, which we believe will appeal to millennials interested in joining Veolia in the future. It gives them the opportunity to engage with our business, to read up to date news designed to appeal to the target audience and view featured jobs. Millennials offer a broad range of skills. They often have advanced entrepreneurial and technical qualities that are perhaps more developed for their age range when compared to those present 25 years ago. By loading profiles into job analysis tools, we can select the competencies that we would like to see in specific roles and see who has the best fit. As part of the recruitment experience, we also have qualified recruiters who can assess personality profiles for transformational and entrepreneurial leadership qualities. This helps us to develop these qualities for our leaders of the future.
Meeting their needs The key to ensuring we meet millennialsâ€™ needs and keep them interested and motivated is to have quality career development discussions within our teams. Tools have been provided to managers on how to have the conversation, backed by a centralised tool for the employees. This helps guide individual development plans, which in turn allows us and the employee to track development. I MU 34 - info - july / august 2017
TIPS TO ATTRACT MILLENNIALS
1 As the millennial workforce
grows, companies must adapt their recruitment strategies to stay competitive.
2 Studies have shown that
millennials are willing to relocate for the right job, which creates competition for companies to retain talent. To meet this, businesses need to be flexible and accommodate this movement, while retaining talent through career development.
3 It is important to communicate
using the channels and tone of the modern communication culture and use social media and technology strategically for attracting, developing and retaining talent. I MU
WHO AR E THE MILLE NNIALS ? – FOCUS
Retaining millennials Employers must capture the hearts and minds of the new generation of digital natives in order to retain them in the long term, says Tanuja Randery, President UK & Ireland at Schneider Electric and a Board Member of the French Chamber
’ve recently spent three incredibly energising days with team members from across Schneider Electric’s European offices and met with several talented young colleagues. What struck
me the most? Their approach to problem solving. This is typical of millennials who, in this regard, are extremely non-linear. This can often challenge the status quo in many
Your company needs to have a clear purpose. Millennials want to work for a company that they believe in – it’s about capturing their hearts and minds
organisations. While being risk-oriented, millennials are also, at the same time, led by facts. Above all, they have a fresh
setting our own goals for making sustainable products, valuing
approach and bring great energy to the working environment.
diversity and ethics, and giving our staff the skills they need for
What sort of business do you need to be in order to attract today’s workforce entrants and retain tomorrow’s leaders?
Have a clear purpose
the future. This is what gets me out of bed every morning. As a business, we’re doing something that’s real and lasting, that will make a difference for the future generations.
Your company needs to have a clear purpose. Millennials want
to work for a company that they believe in – it’s about capturing
Innovation at every level is core to our strategy and we
their hearts and minds.
encourage innovative thinking by removing silos and archaic
Working on this and making it a core part of your strategy
ways of doing things.
can pay off: Schneider Electric has just been included in
It is important to build and offer the space to be creative
LinkedIn’s Global Top 25 Companies List as one of the most
and give people the chance to work on innovative projects. You
sought-after places to work, which is fantastic news for us and a
can do that by applying the 40-40-20 rule, where employee time
great testament to the team. Milestones such as these are what
is split: 40 per cent with customers, 40 per cent with the team
we build our company’s success upon and it motivates us to
and 20 per cent by yourself. That final 20 per cent allows space
continue to attract, motivate and retain young talent.
for growth, development and fresh thinking.
I want to share a few things that we’ve found helpful for
Often, the easiest way to understand your millennial staff
retaining millennials – and purpose comes at the top of this list.
is to ask them for their point of view – we therefore regularly
We make things that enable a better planet and society,
hold ‘Connexion Sessions’ to achieve this, where employees are
- july / august 2017 - 35
encouraged to openly share their views and feedback on work.
of careers in the field.
As a result of this feedback, we ensure that we use cross-
Industry leaders must take on the role of ambassadors
functional teams on strategic initiatives. Millennials bring a
at schools and universities. At Schneider Electric, we have a
much-needed balance to more experienced teams, but it is
programme with the Dublin Institute of Technology dedicated
important that these teams are diverse on gender, culture and
to encouraging young women to consider a career in STEM.
age as well.
Rethink how you recruit
In our businesses, we need to change our policies, job descriptions and address unconscious bias. If you want to inspire a diverse group to come and work for you, you need
What are your recruitment processes? Are you thinking
to support and promote role models that tomorrow’s leaders
about the pipeline and ensuring that your industry is being
looking into the organisation can relate to.
championed in the right way? STEM (Science, Technology, Engineering and Mathematical) careers, for example, have long been perceived incorrectly.
What’s more, we must accept the fact that the millennial generation expects to move more freely throughout their careers and seek flexible working where realistic to do so.
They are seen as too geeky or that the average engineer
In order to get the best out of your millennial employees
or technician wears grubby overalls, wielding a spanner – I
from day one, you must look at how your business currently
can assure you that this is not the reality for the majority of
operates and consider your processes – are they fit for purpose
engineers. There is therefore a need to rebrand and improve
for this generation? I TR
people’s understanding of the industry to encourage the uptake
9 TOP TIPS FOR RETAINING MILLENNIALS
by Tanuja Randery
1 Purpose is the key and trumps everything else. 2 Remove silos and bureaucratic processes to enable creativity and collaboration. 3 Take risks on the young talent – promote them early, give them challenges. 4 Apply the 40-40-20 rule to allow for time to think and time with teams. 5 Support and promote role models and STEM ambassadors that foster tomorrow’s leaders. 6 Recruit proactively – invest time in university and school fairs to ensure your industry is being
represented correctly and take graduates and apprentices to these events.
7 Feedback is key: millennials need constant feedback – once a year is not enough. 8 Hire for attitude, train for skill. 9 Above all, be diverse and inclusive.
36 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
A new career ladder Career advancement has historically been built upon seniority, but millennials value results over tenure. Ann-Marie Robson, Human Resources Director at EDF Energy, explains how to put people at the heart of your business
t a business such as ours, the UK’s largest producer of
and development specialists to create a specific
low-carbon electricity, it is vital that we have a range
self-driven but supported route for fast-track
of different skills in our workforce at all levels in order
development of individuals at an early stage in their
to run our existing business, today and in the future. Like others in the energy industry, we face a skills gap that creates
ongoing competition for Science, Technology, Engineering and
Identify emerging talent
Mathematical (STEM) skills and experience.
We ensure that we identify emerging talent
Attracting and retaining talent from diverse groups and
during bi-annual people talent reviews held at
inspiring the younger generation are critical elements of our
each business level, rolling up to a central and
people strategy. In this context, the millennials – as the latest
coordinated view. The purpose of our talent
generation of young people joining the UK’s workforce – hold
review process is essentially to map the business
a special place. Indeed, the effects of skills shortages coupled
needs of the organisation against the capacity,
with an ageing population mean that this generation is
capability and potential of the people within it.
particularly important as a ‘transitional generation’, pivotal for
It is also one of the key mechanisms by which
transfers of knowledge.
our people with potential (at all levels) are
Millennials have a different outlook to previous generations, having grown up in a world of fast-moving innovative technologies and social networking, surrounded by high-profile successful entrepreneurs for role models. In the workplace, millennials seek a clear career pathway
identified and filtered into a tailored accelerated development programme.
Build a talent plan A robust talent plan is created to ensure
with fast progression and have a hunger for appreciation and
that our organisation is connecting with and
recognition. They are keen to transcend traditional hierarchies
getting the most from our employees and
and believe opportunities should be on offer for all, regardless
managing our talent in the best possible
of level or length of service. Achieving a strong work-life
way. We engage with employees following
balance is also a key objective.
the review process to reaffirm aspirations,
At EDF Energy, we recognise the new challenges that this
discuss next steps and help manage
generation presents and we are taking steps to ensure that we
individual career and development plans
can attract, nurture and retain the talent on offer.
with support from HR, line managers and a
Understand their needs and expectations
We regularly engage with the younger members of our
Offer work-life balance
workforce to gain insight into the changing needs and
Recognising the need for greater work-
expectations of the current and next generations – exploring
life balance, we have introduced flexible
what environmental factors are shaping them, looking at the
working where possible, to ensure the
emerging trends and anticipating their needs from an early
needs of the business are still met,
stage. For example, we welcome our Young Professionals
alongside those of our employees. This
Network to join the senior leadership team at their strategic
includes part-time working, job sharing,
away days to understand their views and opinions of how to
sabbaticals and project and programme
identify, engage and develop the leaders of the future.
Create clear career paths
workforce and those soon to enter the
On career progression, we are creating clear and transparent
job market will ensure we continue
career paths, with consistent criteria requirements for
to adapt and evolve, to attract and
experience and development at every stage, for example in
retain talent and build a sustainable
engineering. Alongside this, we have worked with learning
workforce for the future. I AR
Going forward, listening to the
- july / august 2017 - 37
LEARNING HOW TO LEARN Millennials are the most educated generation in history, which makes them the perfect cohort for companies looking to adapt to future technologies and new ways of working, according to Nicolas Taborisky, CEO of software development start-up Theodo UK
e only hire millennials. This
careers and want to prove themselves.
your millennials – to adapt to the future.
is not a hard rule, but it has
In addition, as a software development
This does not mean learning a job or a
worked out that way for us, in
company, we believe that millennials
set of skills, but learning how to learn
terms of the people that we look for, the
are the savviest in this domain as they
and learning how to adapt to new
skills that we need and the personalities
were nearly born with an iPhone in their
technologies and new ways of working.
that we seek.
This was a conscious decision: we
By designing a progressive career pathway, we enable our staff to gain the
want our people to be smart, to be eager
CEOs and CTOs
to learn, and to be adaptable to our
In return, what we offer to them as a
company culture and methods. When
fast-growing start-up is excellent training
we hire, we are not looking for expertise
and strong career prospects. We train
in a specific technology; what we look for
our engineers to become CTOs and
In practice, this has meant establishing
is personality and brain skill – the ability
our business-minded team members to
clear goals and clear levels within the
company through a system that we have
skills that they need to become the CTOs and CEOs of the future.
developed, called ‘Up’.
How do we put this into action? We
suited to this? Millennials are the most
have spent a lot of time to develop a
This is not focused on ‘promotions’
educated generation in history and
working environment where employees
in the traditional sense, as the levels
are inherently adaptable and open to
are constantly reinventing the way they
within the company are not about line
work and we continuously challenge
managing. Instead, it is about meeting
Theodo has a strong culture and
them through our lean philosophy – that
the precise criteria and gaining the
a very defined methodology for how
is, creating more value for customers
defined skills for the next Up step.
we work and do things, which can be
by eliminating waste and focusing on
tricky to adapt to. Millennials are more
problem solving and coaching.
When a team member feels ready to apply for their next Up, they present
The key to making it work is
how they meet these criteria in front of
encouraging adaptability. Today’s jobs
a jury, which then challenges them and
This makes Generation Y the perfect
will not exist in ten years, so you must
discusses how they can improve their
fit for us, as they are in the dawn of their
help all of your employees – not just
work for the following Up step.
malleable and adaptable to this; there are fewer ‘bad habits’ to break.
This isn’t just talk, it truly works. Team members that follow the path are able to follow the trajectory and reach the positions that they want. Indeed, I am a good example of it myself: I joined Theodo as a Business Developer three years ago and today, by following the right Up steps, I have become the UK CEO and many of our engineers have become start-up CTOs. It may not be a perfect solution for every business, but it works for us. We have seen very clear, positive results from organising the business in this way, which has also delighted our millennial workforce. I NT
Today’s jobs will not exist in ten years, so you must help all of your employees – not only your millennials – to adapt to the future 38 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
Is it a bird? Is it a plane? No, it’s a millennial While businesses must adapt to millennials, they must not do so to the detriment of all of the other generations in the workplace, writes Pia Dekkers, HR Director at Chanel and Co-chair of the French Chamber's HR Forum
or a long time, the key buzzword has been digital. Today, it is very much a part of our life; it is no longer seen as a separate entity. To that end, the 'millennial' buzzword
is also no longer just that – a buzzword. It is now a reality: millennials are the ‘new tribe’ in the consumer market and
in the workplace. What does this mean for business leaders? Millennials are no longer something to be thought of as 'the future'; this generation is here, now, and it is imperative that companies engage with this group, not only in order to attract and retain them as consumers, but also as employees, in order to futureproof our businesses. Today, we have the most number of generations in employment at the same time. The competitive trick, therefore, is to create a win-win situation that enables true success – and this can be done through better understanding and collaboration between the generations.
Inter-generational engagement What can businesses do to create this agile competitive edge? The reality is that there is no silver bullet; however, we can provide some insight and food for thought for achieving better inter-generational engagement. There are a number of generations being employed
Millennials are no longer something to be thought of as "the future"; this generation is here, now, and it is imperative that companies engage with this group
simultaneously. To be perceived as legitimate and credible with each, employers must show an appreciation for each group's inherent skills sets and work preferences. The same goes for
Of course, most – if not all of these – values can appeal to
employees themselves: they must be open and considerate of
anyone, regardless of age. However, the spirit and essence of these
one another's strengths and weaknesses.
values can also mean different things to different generations.
In order to be inclusive of the millennial generation in
Since birth, millennials have been told by their parents
particular, we must understand their priorities and values
that ‘they can do anything’, so the essence of success here
within the workplace, which include:
is to not try and contain them. They like to network with all levels and are not fazed by approaching the MD if they are the
• • • • • • • • •
Purpose Non-hierarchical structures Exemplary leadership Ongoing guidance Continuous feedback Teamwork Flexibility Multi-tasking Healthy work-life balance
right person to talk to in order for them to get the job done. This attitude can sometimes appear to be a little forward to a ‘baby boomer’ but equally, if embraced, can be refreshingly pragmatic and purposeful. That said, the world is a forever changing place and ways of work will continue to evolve generation after generation. In order to protect our future, the main takeaway is to be open and to embrace the wonderful eclectic mix of groups... there is room for all of us! I PD
- july / august 2017 - 39
A new generation emerges
While it is essential to adapt to millennials today, companies cannot rest on their laurels – they must continue to evolve and prepare for the next generation after that: Generation Z. Marc Bena, Partner and Assurance People Lead at PwC – where 80 per cent of the workforce is millennial – tells INFO how to prepare for the future Why is it so important for employers to adapt to millennials?
What does adapting involve?
In the current environment, we are seeing a real war on talent.
Having a strong brand and clear purpose is important for
As employers, we are all trying to attract and retain the best
attracting talented individuals – reputation matters. Millennials
and brightest individuals to enable us to most effectively
want work to have purpose and to be proud of their employer.
serve our clients and identify our leaders of the future, and
For us, our mission is to ‘build trust in society and solve
millennials – born between 1980 and 2000 – make up
important problems’ and it’s essential that our people can
a significant portion of the workforce.
connect with this purpose. But it doesn’t stop there, the role
At PwC, we recruit a high number of graduates every
we play in society from a corporate responsibility standpoint
year which means that, proportionally, we have a younger
is also important. As a result, each year we are increasing our
workforce: the average age is 29 and millennials were
estimated to account for 80 per cent of our people in 2016. With the increased focus on technology, we are not only
More challenging than attraction is the successful retention of talented people. We know that loyalty in this group is lower
competing with traditional competitors across professional
than in previous generations and see relatively high levels of
services but newer, evolving start up business and technology
attrition. Thus, we need to provide the right experience to
houses, all of who offer a very different career and work
ensure that our people can meet their full potential with us.
This means providing clear development paths, creating the
This will be the case for all companies, who must all
right working environment and an inclusive culture. Investment
compete against others to secure top talent. It’s crucial to get
in technology to give more flexibility and increase efficiency is
this right; we can’t be left behind.
also a must.
The speed of change and access to new technology means that Generation Z could bring even greater changes than Generation Y 40 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
How will the values that support Generation Y evolve as employers begin to welcome Generation Z into the workplace? Millennials entering the workforce have forced organisations to challenge themselves and think of different ways to work and engage with their people as they bring new experience and perspectives. But the speed of change and access to new technology means that Generation Z could bring even greater changes than Generation Y. As ‘digital natives’, this generation expects to use the same technology in the workplace as they do at home. Of course, technology has made a huge difference in the way that we work and communicate with one another, but it’s the way that
What will transform the way people work over the next 5-10 years?
34% Resource scarcity and climate change 33%
Shifts in economic global power
None of these
Source: PwC survey
we use technology as people that sets the generations apart. Businesses must adapt and learn to work in different ways
Do you see generational tension within the workplace as old
with their people and clients. Taken in the right way, the
and new collide?
innovative thinking of our generation Z can be a huge
Thankfully, I do not see significant tensions between
generations at PwC. Our business is relatively unique in the
T H R E E M A J O R F U T U R E WO R K PL AC E T R E N DS 1. Mobility and agility Rapid and accelerating change is the new normal and, as a business, you need to be agile and ready to respond. In turn, this requires greater mobility and agility from your people. We know new generations want rotational assignments, to work overseas and also to develop their skills in new areas. As employers, we need to get the right balance between development for the individual and meeting the business needs, which requires transparent communication on both sides. The cost of living in large cities such as London brings new challenges for new generations, too. Recent regeneration of large cities in the North of England or Birmingham therefore make working outside of London more and more attractive for new generations.
2. Work-life balance and flexible working Our people tell us that a work-life balance is extremely important. This isn’t purely focused on long working hours but, more importantly, the ability to have greater control over when and where those hours might be worked. People want to be empowered to manage deadlines and workloads in a way that works for them, and allows them to balance with other life commitments. This means that flexible working is becoming a business requirement for all of our people, rather than in the past when it might have been for a smaller portion of the workforce. Technology is a key enabler in changing the way we work and achieving this. Many of our clients are now working from home regularly and are not surprised to see our people work in the same way.
3. Expect the unexpected While we don’t know exactly what the future holds, we do know that a significant amount of change is on the horizon, so the best thing that we can do is to plan for ambiguity and uncertainty. This is in part, but not only, a change in mindset – we also need to prepare for different scenarios and know how to respond quickly. It’s hard to predict the jobs of the future so organisations need to train people to be flexible, agile and constantly learning. To support this, it’s important that employers give their people a narrative for what the future might look like, even if we don’t know how they will get there.
- july / august 2017 - 41
fact that such a large portion of our staff has joined us in the last 10 years and, for that reason, partners have to adapt and engage with all staff and be conscious of the benefit that new generations bring. In fact, capturing and celebrating differences of all kinds is at the heart of our culture. In the UK business, where accountancy training is completed during the first two years of employment, we welcome employees from all background disciplines. This is very different to the way we recruit in France, where we expect our staff to have studied business at university or in business schools. We want to create an inclusive environment where all views are respected. Diversity in gender and ethnicity is a vital part of this and something that we see as an imperative from
with the aim of giving more young people, from a broader
a business as well as people experience perspective. We need
range of backgrounds, the opportunity to get into a career
to do more than ‘talk the talk’, which is why we are focused on
in technology and to help grow the UK’s next generation of
taking steps to show opportunities are equal for all, and our
technology talent. We also want to inspire the next generation
clients are equally aware of this.
of women into technology. Both of these indicate the increasing role that we see technology having in our market
Megatrends – such as automation, artificial intelligence, the sharing economy and others – are likely to have a major
offerings in the future. Automation and artificial intelligence (AI) will also
impact on employers. What does this mean for the future of
fundamentally change the work we do and how we do it. Our
research predicts that 30 per cent of jobs in the UK are at risk
The most significant impact will
through automation; this rises to 32 per cent in the financial
be seen through technology breakthroughs and through the pace of change in technology, which has increased dramatically.
80% OF PWC EMPLOYEES ARE MILLENNIALS
Jon Andrews, one of our Executive Board Members, is leading on innovation and technology. As a firm, we are focused on staying at the forefront
and insurance industries. This will alter the types of jobs available as well as the number and perceived value, removing methodical, routine tasks, and having more time for our people to focus on leadership, empathy and creativity skills. I am personally really excited about the development of technology and what this means for the future of work. As an employer, we should be using the breakthroughs to improve
of changes, driving services that are underpinned by
employee experience, provide more challenging work, and
technology solutions, but also digitising our own business
give greater client insight. While we know that technology will
to better leverage technology in all that we do internally.
change what we do, the need for talented individuals remains
We recently launched a technology degree apprenticeship
as important as ever. I MB
Automation and artificial intelligence will fundamentally change the work we do and how we do it. Our research predicts that 30 per cent of jobs in the UK are at risk through automation; this rises to 32 per cent in the financial and insurance industries
F I V E WAYS TO F U T U R E P R O O F YO U R B U S I N E S S 1. Create a flexible work culture which empowers people and focuses on output of work performed. 2. Fully leverage technology to provide an enhanced people experience. 3. Unite around a sense of purpose, a respected role in society, and a common set of values and culture. 4. Focus on your strategies to cope with ambiguity. 5. Invest time, resources and energy to listen and stay connected with your people.
42 - info - july / august 2017
WHO AR E THE MILLE NNIALS ? – FOCUS
Learning how to manage millennials and integrating them into your workforce can be a challenge. INFO’s Noorie Haroon presents the must-read, must-listen and mustwatch media on how to make the most of millennials
THE CLASSICS Tim Elmore: Generation iY: Our Last Chance to Save Their Future (2010) This is the one book that every employer should read. Generation iY takes the reader on an intellectual journey, guiding you through the hypothetical scenario of what could happen to society if you do not change the way you communicate with millennials. Delivering a strong message, this book is packed with stats and figures as well as practical advice for the future. Jim Collins: Good to Great: Why Some Companies Make the Leap... And Others Don’t (1989) Don’t be fooled by the publication date of Jim Collins’ classic book. This bestseller remains as relevant as ever, with Collins offering timeless advice on how companies can become successful. It is a riveting read with a strong business focus; guaranteed to change you both professionally and personally.
CONTEMPORARY BESTSELLERS Jamie Notter and Maddie Grant: When Millennials Take Over: Preparing for the Ridiculously Optimistic Future of Business (2015) Jamie Notter and Maddie Grant’s book focuses on changing business culture to support the next generation of workers and managers. Through in-depth research, When Millennials Take Over aims to persuade struggling managers to tap into the energy and potential of young workers, to use their insights to understand today’s clients and to stay fresh and competitive.
Sheryl Sandberg: Lean In: Women, Work and the Will to Lead (2013) In her book, Sheryl Sandberg – Chief Operating Officer of Facebook – draws on her own experience of working in some of the world’s most successful businesses to illustrate how women can prompt change. It is an absolute must-read for anyone interested in the new world of work.
David Rogers: The Digital Transformation Playbook: Rethink Your Business for the Digital Age (2016) In this handy guide, David Rogers discusses how digital transformation is not about updating your technology, but about upgrading your strategic thinking. The Digital Transformation Playbook shows how companies can tackle the worries that stop them from reaching the top.
LISTEN The Tim Ferriss Show Tim Ferriss, the New York Times bestselling author and a selfproclaimed experimenter, serves as the perfect interlocutor for bridging the gap between millennials and the rest of the world. The Tim Ferriss Show is the first business/interview podcast to surpass 100 million downloads and for good reason – he delivers thoughtprovoking messages in unexpected, accessible ways that listeners can use. Listen here: bit.ly/2sMGVqN
WATCH Inside Quest: Simon Sinek on Millennials in the Workplace No list would be complete without a mention of Simon Sinek, leadership expert and online celebrity. In this viral internet hit, Sinek explores the age-old question of why millennials are still not satisfied in the modern workplace. In his answer, he eloquently maps out the reasons behind the issue, and how employers everywhere can help millennials become the confident future custodians of modern society. Whether you agree or disagree, this talk is guaranteed to evoke an opinion. Watch here: bit.ly/2scE6R3
- july / august 2017 - 43
CULTURE – WHAT'S ON A SELECTION OF RECOMMENDED CULTURAL EVENTS IN LONDON... AND FURTHER AFIELD
SERPENT I N E GA L L ERY, LO N D O N
Grayson Perry Presents The Most Popular Art Exhibition Ever!
Death of a Working Hero, 2016, Tapestry, Courtesy the artist, Paragon Press and Victoria Miro, London, Photography: Stephen Whit
British artist Grayson Perry, one of the most astute commentators on contemporary society and culture, is presenting a major exhibition of new work at the Serpentine this summer. The works touch on many themes, ranging from popularity and art, masculinity and the current cultural landscape. Grayson Perry Presents The Most Popular Art Exhibition Ever! tackles one of Perry’s central concerns: how contemporary art can best address a diverse cross section of society. ‘I am in the communication business and I want to communicate to as wide an audience as possible. Nothing pleases me more than meeting someone at one of my exhibitions from what museum people call “a non-traditional background”,’ said Perry. ‘The new works I am making all have ideas about popularity hovering around them. What kind of art do people like? What subjects? Why do people like going to art galleries these days? What is the relationship of traditional art to social media?' The Serpentine, with its global reputation as an open landscape for art and ideas, free entry and accessible location in Kensington Gardens, is an ideal venue to pose these questions. The French Chamber was also delighted to host a breakfast with Grayson Perry at the Royal Albert Hall in June, followed by a tour of his exhibition – full coverage of this event will be published in September. I Until 10 September 2017 / Open daily 10am to 6pm / Free admission
©National Portrait Gallery, London
TAT E B RI TA I N, LO N D O N Queer British Art 1861-1967 Featuring works from 1861 to 1967 relating to lesbian, gay, bisexual, trans and queer (LGBTQ) identities, this is the first major exhibition dedicated to queer British art, marking the 50th anniversary of the partial decriminalisation of male homosexuality in England. Queer British Art explores how artists expressed themselves in a time when established assumptions about gender and sexuality were being questioned and transformed. With personal and intimate paintings, drawings, personal photographs and film from artists such as John Singer Sargent, Dora Carrington, Duncan Grant and David Hockney, the diversity of queer British art is celebrated as never before. I Until 1 October 2017 / Open daily from 10am to 6pm / £16.50
Gluck (Hannah Gluckstein), Self-Portrait, 1942 Collection
- july / august 2017 - 45
CULTUR E – WHAT ' S ON
VI C TO RI A & A L B ERT M USEU M , LO N D O N
© Victoria and Albert Museum, London
In what is the first UK exhibition to explore the work and legacy of influential Spanish couturier Cristóbal Balenciaga, over 100 pieces crafted by ‘the master’ of couture, his protégés and contemporary fashion designers are on display. The exhibition begins by examining Balenciaga's work from the 1950s and 1960s – arguably the most creative period of his career. Highlights include ensembles made by Balenciaga for Hollywood actress Ava Gardner, dresses and hats belonging to socialite and 1960s fashion icon Gloria Guinness and pieces worn by one of the world’s wealthiest women, Mona von Bismarck. The second part of the exhibition explores the lasting impact of Balenciaga, tracing his influence through the work of over 30 fashion designers across the last 50 years. I Until 18 February 2018 / Open daily from 10am to 5.30pm, until 9.30pm on Friday / £12
© Hiro 1967
Balenciaga: Shaping Fashion
Left: Evening dress, silk taffeta, Cristóbal Balenciaga, Paris, 1955 Right: Alberta Tiburzi in 'envelope' dress by Cristóbal Balenciaga, Harper's Bazaar, June 1967
Soul of a Nation: Art in the Age of Black Power Soul of a Nation shines a bright light on the vital contribution of black artists to a dramatic period in American art and history. The show opens in 1963, at the height of the Civil Rights movement and its dream of integration. Black Power was a rallying cry for African American people, and artists responded to these times by provoking, confronting and confounding expectations. More than 150 artworks are on display for the first time in the UK, including more than 50 exceptional American artists including Romare Bearden, Norman Lewis, Lorraine O’Grady, Betye Saar and Andy Warhol among others. This landmark exhibition is a rare opportunity to see era-defining artworks that changed the face of art in America. I 12 July - 22 October 2017 / Open daily from 10am to 6pm / £16.50
© 2017 Estate of Pablo Picasso / Artsts Rights Society (ARS), New York. Courtesy Gagosian. Photo: Eric Baudouin
GAG OS I A N GA L L ERY, LO N D O N Picasso: Minotaurs and Matadors Curated by art historian and Picasso biographer Sir John Richardson, Picasso: Minotaurs and Matadors examines the intersection of Picasso’s bullfighting imagery with his mythological and biographical compositions. Including works dating from 1889 to 1971, this career-long survey traces Picasso’s engagement with the ancient rituals and narratives of his native Mediterranean. Comprised of paintings, drawings, sculpture, prints, ceramics and a home movie Picasso made in 1929, the exhibition presents fresh perspectives on some of Picasso’s myths and monsters. I Until 25 August 2017 / Open Tuesday to Saturday, 10am-6pm / Free admission
46 - info - july / august 2017
© 2017 The Andy Warhol Foundation for the Visual Arts, Inc. / Artists Right Society (ARS), New York and DACS, London
TAT E M O D ERN, LO N D O N
BOOK S – CULTUR E THESE BOOKS, RECENTLY PUBLISHED IN ENGLISH, WERE SELECTED BY THE FRENCH INSTITUTE IN THE UK
Despentes Published by MacLehose Press Translated by Frank Wynne Original title: Vernon Subutex (2016)
Gaudé Books Translated by Emily Boyce and Jane Aitken Original title: La porte des enfers (2008) Published by Gallic
Vernon Subutex was once the proprietor of Revolver, an
What if death was not the end? Hell’s Gate tells a thrilling story
infamous music shop in Bastille, and his legend spread
of love, loss, revenge and redemption in Naples and beyond.
throughout Paris. But by the 2000s, his shop is struggling.
When his son, Pippo, is killed by gangsters’ crossfire on his way
With his savings gone, his unemployment benefits cut, and the
to school, Napolitan taxi driver Matteo is consumed by despair.
friend who had been covering his rent suddenly dead, Vernon
But right at the moment that he feels life has lost all meaning, he
Subutex finds himself down and out on the streets of Paris.
encounters a man who claims that the living can find ways back
He has one final card up his sleeve. As he holds out his hand to
into the afterlife – and legend has it that there’s an entrance to
beg for the first time, a throwaway comment he once made on
the underworld beneath Naples. What if Matteo had a chance of
Facebook takes the internet by storm. Vernon does not realise
bringing Pippo back from the dead? I
it, but the word is out: Vernon Subutex has in his possession the last filmed recordings of Alex Bleach, the famous musician and Vernon's benefactor, who has only just died of a drug overdose. A crowd of people from record producers to online trolls and porn stars are now on Vernon's trail. This book is supported
by the Institut français du Royaume-Uni as part of the Burgess
BLUE SELF-PORTRAIT by Noémi
Lefebvre Fugitives Translated by Sophie Lewis Original title: L’autoportrait bleu (2009)
Muller and José-Luis Bocquet Published by SelfMadeHero Translated by Edward Gauvin and Mercedes Claire Gilliom Original title: Josephine Baker (2016)
Published by Les
Paris, 1925. Over the course of a single evening, Mississippiborn dancer Josephine Baker becomes the darling of the Roaring Twenties. Some audience members in the Théâtre des Champs-Elysees are scandalised by the African American's performance in La Revue Nègre, but the city's discerning cultural figures – among them Picasso and Cocteau – are enchanted
Following a complex romantic encounter with an American-
by her exotic, bold and uninhibited style. When her adopted
German pianist-composer in Berlin, Blue Self-Portrait tells the inner
country grants her citizenship in 1939, Josephine sees her
monologue of a woman haunted by German composer Arnold
fame as a means of helping the French resistance. She takes
Schoenberg. As the irresistible, impossible narrator flies home,
advantage of her globe-trotting lifestyle to pass on messages
she unpicks her social failures while the pianist reaches towards
and to gather information. Years later, she is awarded the
a musical self-portrait with all of the resonance of Schoenberg’s
Légion d'honneur by Charles de Gaulle. In the 1950s, installed
passionate, chilling blue. A contemporary novel of angst and high
in a palatial 15th century chateau, Josephine adopts 12 children
farce, Blue Self-Portrait unfolds among Berlin’s cultural institutions
from different ethnic backgrounds. Her 'Rainbow Tribe', as she
but is more truly located in the mid-air flux between contrary
often called them, was a living, breathing symbol of a happy
impulses to remember and to ignore. Yet, music is shown to
and harmonious multicultural society. In Josephine Baker, Catel
continue to work on and through us, addressing past trauma while
and Bocquet paint a glorious portrait of a spirited, principled
reaching for possible futures. This book is supported by the Institut
and thoroughly modern woman, capturing the heady glamour
français du Royaume-Uni as part of the Burgess programme, and
of 1920s Paris in beautifully expressive detail. This book is
is the recipient of a translation grant by the Conseil National du
supported by the Institut français du Royaume-Uni as part of
Livre (CNL). I
the Burgess programme. I
- july / august 2017 - 47
LIFESTYLE: EAT, DRINK, STAY DISCOVER THE L ATEST RESTAURANTS, HOTELS, BARS AND MORE
AccorHotels to open major hotel in Leicester Square AccorHotels has announced that its new MGallery by Sofitel hotel will open to the public in August
ccorHotel’s MGallery by Sofitel hotel will be based in Leicester Square, in the heritage Victory House building. The hotel features 86 rooms, including three one-bed suites, six signature suites, 13 deluxe bedrooms, 58 standard bedrooms and six accessible bedrooms. It is the latest central London hotel to be opened by AccorHotels – other recent openings include the new Novotel Canary Wharf and Mercure Hyde Park. Located in the epicentre of London’s cultural heart – surrounded by leading theatres, designer stores and top restaurants – the upscale boutique hotel is targeting guests who seek a distinctive experience in the vibrant West End district. ‘The hotel is situated in a prime location at the heart of the capital and further bolsters our presence in London,’ said Thomas Dubaere, Managing Director of AccorHotels UK & Ireland. ‘It will be our fourth UK MGallery by Sofitel and further adds to our ambitious UK expansion plans. The MGallery by Sofitel brand offers a unique combination of the celebration of the local area and the reassurance of a globally-recognised high standard.’ MGallery by Sofitel are high-end hotels, found worldwide, which have been chosen for their distinct personality and
characteristics. Indeed, each has a unique personality and story, which guests are invited to experience through the hotel’s architecture, interior design and services. I JH
Claridge’s partners with World’s Best Bar
Big Fernand sells to private equity firm
Five-star luxury Mayfair hotel Claridge’s is pairing up with The
French ‘hamburgé’ chain Big Fernand has sold an 80 per
Dead Rabbit, a celebrated Manhattan Irish drinking tavern,
cent stake to UK mid-market private equity firm BlueGem
for an exclusive week-long pop-up (15-22 August). The Dead
Capital Partners, which has injected €7m into the business.
Rabbit, which was voted as the number one World’s Best Bar in
Founded five years ago, the premium fast-food chain owns
2016, will be recreated in Claridge’s Bar, complete with ragtime
36 restaurants in France (nine outright and 27 as franchise
piano playing and its signature cocktails. I
businesses) and six outside of France (including one in central London). The business turned over €18m in 2016-2017, rising to €50m including franchises. I
Raymond Blanc opens ‘Britain’s first hotel gardening school’ Belmond Le Manoir aux Quat’Saisons has announced the opening of its very own gardening school this summer. Named after its charismatic chef, The Raymond Blanc Gardening School will impart secrets and expertise from the team behind the twoacre kitchen garden, which supplies more than 90 varieties of vegetable and 70 types of herbs for Blanc’s two-Michelin-starred restaurant. The full- and half-day courses will be overseen by Le Manoir’s head gardener, Anne-Marie Owens. I 48 - info - july / august 2017
E AT, DR INK , S TAY – LIFE S T YLE
Playing his cards right Simon Thomas, Chairman and CEO of the Hippodrome Casino, tells INFO about how he built London’s top entertainment venue
We’ve created a brilliant venue where grown ups can come and have fun. But five years in, and 7.5 million customers later, we’re still nowhere near our potential. The market is enormous
30,000 CUSTOMERS VISIT THE HIPPODROME PER WEEK
he Hippodrome has an extraordinary history. It started life
a day, every day of the year (barring Christmas Day). The
in 1900 as an indoor circus, featuring elephants, Russian
Hippodrome Casino has become one of London’s top
giants, African Pygmies and a 24-metre wide swimming
entertainment venues. ‘It is 7,500 sq m of fun,’ says Thomas,
pool into which dwarfs would high-dive into from the roof.
with three casino floors, six bars, a 200-seat cabaret theatre
Charlie Chaplin was even part of the cast on opening night.
and – officially – the best steakhouse in London, Heliot
Generation after generation, the venue has continuously
Steak House (named after one of the Hippodrome’s French
transformed itself to keep its reputation as a prime
performers, Claire Heliot, who fed raw meat to lions on stage
entertainment venue. From its beginnings as a circus,
in the early 1900s).
it became a music hall, holding the English premiere of
Beyond Heliot, the Hippodrome has a long history of
Tchaikovsky’s Swan Lake in 1910 and welcoming the first jazz
French links, having welcomed performers such as the Folies
band in the UK, the Dixieland Jazz Band, in 1919.
Bergère and Sacha Distel in its previous lives.
Its roster of acts through the years is a veritable Who’s Who
Today, the Hippodrome actively courts French performers,
of talent: Stevie Wonder, Sammy Davis Jr, Louis Armstrong,
in order to satisfy demand from London’s large French
Ella Fitzgerald... the venue has played host to the greatest and
community. Acts this year have thus far included singer
Vianney, comedians Ary Abittan and Kyan Khojandi and several
The venue’s next incarnation was as London’s favourite nightclub, run by Peter Stringfellow in the 1980s and 1990s.
others – which have all sold out. ‘There is a large French community in London and it had
Entrepreneur Simon Thomas, the Chairman and CEO of
really struck me that there was an opportunity to deliver
the Hippodrome Casino, finally took over the venue in 2009,
world-class French entertainment in a fun environment,’
with a desire to restore it to its former glory and turn it back
Thomas explains. We offer entertainment as it should be. The
into a world-class entertainment complex.
Hippodrome is a venue that is really easy to get to and you are up close and personal with your favourite artists.’
The house always wins
Thomas says that he is thankful that the uncertainty
Three years – and £45m later – Thomas and his team opened
caused by events – such as Brexit or terror attacks – have not
the Hippodrome Casino. It was July 2012 and the business plan
had a major effect on the business. ‘London has demonstrated
was built around attracting 12,000 customers a week, rising to
over many years that it’s incredibly resilient. Brexit has actually
18,000 customers a week two years later. ‘The front door is on
been kind to us so far, as London has gone from being the
the busiest corner of Europe, with 250,000 people walking past
third most expensive city in the world to 17th.’
it every day, but we were opening a very big, very empty box,’
Turning to the future, Thomas continues to think big. ‘We’ve
he remembers. The casino hit its year two projection by week
created a brilliant venue where grown ups can come and have
four of opening.
fun,’ he explains. ‘But five years in, and 7.5 million customers
Today, the Hippodrome welcomes more than 30,000 people per week. It employs 670 staff and is open 24 hours
later, we’re still nowhere near our potential. The market is enormous.’ I JH
- july / august 2017 - 49
LIFE S T YLE – CHE E SE & WINE
CAPR A AL TARTU FO by La Cave à Fromage Working alongside Chefs for so many years, I have heard one word that returns over and over in their dialect: flavours. Flavours have become an obsession in our modern quest to enhance all of our emotions – and food culture has embarked on this same journey. Going back to the Middle Ages, when monks helped to change food from being just sustenance – a tool to survive – to being a pleasurable and social tool, flavours have occupied the centre stage of a well-orchestrated symphony of ingredients. Italians have been the maestri in this art and, for a long time, have used spices, herbs and truffles to give food its character, its identity. Capra al Tartufo is a prime example of this. It is a very young – two weeks’ old – fresh goat’s cheese originating in
suddenly undergoes a metamorphosis into a cheese soprano.
the Piedmont region. At such a young age, cheese has not yet
Produced all year round, it is defined by its white, soft but
had the time to develop its identity, so lacks flavour. However,
fairly consistent paste and its flavour has a hint of sourness in
through the addition of black truffle, the Capra al Tartufo
addition to the earthy, luxurious truffle aroma. I Eric Charriaux
E: email@example.com T: +44 (0)845 108 8222 W: www.la-cave.co.uk
TO BUY YOUR CHEESE, VISIT LA CAVE A FROMAGE SHOPS 24-25 Cromwell Place, 229a Chiswick High Street, Kensington, London SW7 2LD Chiswick, London W4 2DW
34-35 Western Road, Hove, Brighton BN3 1AF
TH E I D E AL WI N E TO PAI R WITH CAPR A AL TARTU FO by Wine Story As the Capra al Tartufo is not a very well-known
the Poitou, the white wines are aged in troglodyte
cheese, I will also introduce you to a rare wine to
caves or deep stone cellars, which may influence
pair with it. This wine originates in the Loire Valley
the end result and their taste. The Chinon is almost
– a region which is also the Mecca of goat’s cheese.
exclusively made from the royal grapes of the valley,
Capra means goat in Italian, similar to the French
the Chenin Blanc. Its lactic texture is also ideal with
capri (small goat). I have therefore chosen a white
this fresh cheese and its power would balance the
Chinon that is less known than its red sibling (white
strong scents of the added truffle. As Eric writes,
makes up just 2 per cent of the 2,360 hectares in
above, flavour is the quest – but I would also add
the Chinon appellation). The freshness of the goat’s
that balance is the key.
cheese, still in its youth, deserves a dry white wine
Our producer, the Domaine de la Marinière, only
with a crisp acidity. The flint and chalky soil mineral
produces 2,000 bottles of this rare wine, so I do
notes of a young white Chinon would therefore
hope there will still be some bottles left for you once
be ideal. Similar to the red wines of this ancestral
you have read this article! I Thibault Lavergne
appellation from the Touraine, on the outskirts of
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AT THE CHAMBER
ith the first half of the year
Lacoste and Richemont), 13 corporate
Our business services have also
behind us, now is a good
members and 28 active members in
performed exceptionally, to date: we have
time to take stock of what the
the last few months, thus continuing to
successfully placed 24 candidates through
strengthen our membership base.
our Recruitment Service, our Business
Chamber has achieved thus far – as well as a preview of what I and my team have
The pace has not stopped on the
Centre is at near-full capacity, and 15 new
events side either, with 29 events
clients have engaged our Company Set-up
I have been delighted to see our
organised by the Chamber so far and
and Accountancy Service this year.
forums and clubs flourish this year.
many more to come after the rentrée
In addition to launching two new forums –
(view our events calendar on p79).
General Meeting in June (see p58),
Brexit (launched in March) and Retail (in
Here, too, we have attracted high-profile
I am very pleased to welcome one new
May) – we have already held 28 sessions
speakers, including the Deputy Mayor
Board Member and three Advisory
this year, thanks to the support of our
of London Rajesh Agrawal, the French
Councillors to the Chamber – discover
dedicated Chairs and in-house team.
Ambassador HE Ms Sylvie Bermann,
who they are on the page opposite. I look
Covering a wide range of relevant
Michelin-starred Chef Raymond Blanc
forward to working closely with all of them
business topics, these free-to-attend
OBE and many more – their willingness
to help further develop the Chamber.
– and very dynamic – sessions have
to speak and attend our events illustrates
Over the next pages of INFO, you can
already attracted an impressive list of
the Chamber's excellent reputation as
discover more about our new members,
speakers this year, including Sir Paul
the go-to business platform for Franco-
our latest Chamber news and much,
much more. Please do ensure that you
planned for the remainder of 2017.
others. Should you not yet be a member
We have started work on the London
catch up with our latest forum and club
of a forum, I would highly recommend
Luxury Think Tank – this is a new, large-
session reports (from p60) as well as
that you – or, indeed, members of your
scale event planned for the autumn,
coverage of our latest events (p72).
team – join the most relevant forum for
which will bring together the finest luxury
It has been a great year thus far and we
your professional interests.
brands for a day of learning, networking
intend to make the second half of the year
and benchmarking. (Find out more on
equally as successful. All that remains is for me to wish you a great summer! I FG
welcomed four new patrons (Coty, FlyBe, 52 - info - july / august 2017
the page opposite.)
FRANCO BRITISH BUSINESS AWARDS 2017 | Applications open soon! See p.80 One new Board Member and three Advisor y Councillors join the Chamber
Women's Business Club welcomes six new members
he French Chamber is delighted to announce one new Board Member, who has both become a Vice President of the French Chamber: Fabienne Viala, Chairman, Bouygues Construction. Three members have also recently joined the Chamber's Advisory Council: Alexandre Covello, Founder and CEO, AngelsCube; Laurent Pillet, Managing Director, Pernod Ricard UK; and Arnaud de Saint-Exupéry, Area Vice President and General Manager UK & Ireland, Hyatt Hotels Corporation. The Chamber thanks them for joining and looks forward to working with them.
ix prominent female captains of industry, media, culture and government have joined the French Chamber's Women's Business Club in recent months, highlighting the high calibre of members. The Club, chaired by Estelle Brachlianoff, President of the French Chamber, was delighted to welcome as new members: Sylvaine Carta-Le Vert (Consule Générale, Consulat Général de France); Sarah Gordon (Business Editor, Financial Times); Christine Ourmières-Widener (CEO, Flybe); Rachel Johnson (Journalist and Author); Justine Picardie (Editor-in-Chief, Harper's Bazaar UK and Town & Country UK); and Yana Peel (CEO, Serpentine Galleries). Bienvenue!
London Luxur y Think Tank launching in the autumn
he French Chamber is developing, in partnership with Walpole, a new flagship event tailored for luxury leaders: the London Luxury Think Tank. The London Luxury Think Tank’s inaugural one-day event will be held in the autumn (exact date to be announced soon) and will convene leaders of the world’s greatest luxury brands to answer: how are disruptors driving the future of luxury? Through a mix of TED-style talks, panels, success stories and keynote speeches – which will focus on innovation and sustainability, future tech, future consumers and business models – the day will provide an exclusive opportunity for luxury leaders and industry thinkers to come together. Confirmed speakers and moderators include Luca Solca (MD, Global Luxury Goods, Exane BNP Paribas), Jonathan Chippindale (CEO, Holition UK) and Professor Anne Michaud (Director of the LVMH Academic Chair, HEC) among others. Confirmed event sponsors include, so far, PwC as main sponsor and HEC as supporting sponsor and we are in conversation with a number of others. If you are interested in finding out more or, indeed, becoming involved as a sponsor, please contact Anne-Claire Lo Bianco, Acting Head of Events, at firstname.lastname@example.org or 0207 092 6643.
Look out for our Annual Report 2016
Out now: Updated, bilingual HR Guide
ur Annual Report 2016 has been published and a print copy has been sent to all of the main representatives of French Chamber member companies. Detailing the Chamber’s activities and results for last year, the report provides an overview of our services for members plus an outlook for 2017. Read it online: www.frenchchamber.co.uk/publications
hether you work within a large HR team, operate as an external advisor or are a business leader with HR responsibilities, the French Chamber’s newly-updated bilingual HR Guide will help you prepare for the particularities of managing employees in the UK. Written by members of the HR Forum, and translated by HL TRAD, the 200-page book provides an overview of HR topics, reflecting the strong legal basis of the UK employment landscape, and is full of valuable testimonials, tips and advice. Get your copy now: www.frenchchamber.co.uk/purchase-a-publication
Translated by HL TRAD
- july / august 2017 - 53
THE BUSINESS CENTRE: A SPRINGBOARD INTO THE UK Aimed at French start-ups, entrepreneurs and SMEs that are developing their business in the UK, the French Chamber’s 18-desk Business Centre is currently home to 10 companies. Meet Vision de Marques, the experts in retail animation
Olivier Guillotin, Business Development Manager, VISION DE MARQUES What does Vision de Marques do? We are experts in visual communication on points of sale. From construction hoardings to window display decoration and indoor signage, we propose bespoke solutions to retailers across all sectors. Our work begins with window decorations and signage – creating the scenography and the universe around the retailers’ products. We also produce and install vinyls [sticker displays] for windows. These can be permanent or temporary, such as at Christmas or based around specific events or sales. Inside the store, we create displays, plinths, lightboxes... anything physical that relates to a brand’s visual communication. Vision de Marques is a service business that can adapt to meet any of our clients’ requirements. We can produce communications on any material and in any size, thanks to the partnerships we’ve built across Europe and in the UK. From design to production to installation, we are able to meet every need. Our aim is to make the life of the person in charge of visual merchandising easier. Creativity, reactivity and personalisation are our hallmarks. Why did the company decide to come to the UK? The retail industry is highly developed in the UK – and especially so in London. As a leading company in our domestic market, in France, it was a natural step to begin our international development. London was attractive to us because of its large pool of international brands and the diverse environment. We’ve always seen London as the European retail capital, which has tonnes of opportunities for a company such as ours. By offering a different approach to point-of-sale decoration, we strongly believe that we can play a key role in this market. Of course, it is a highly-competitive, tough market, but we are doing well so far and have won some big clients already, such as fashion firm Mango, makeup company By Terry, French bakers PAUL, sound technology start-up Devialet and many others. We have big plans to further develop our activities in the UK. Being based at the French Chamber in central London has given us access to an amazing network and has helped us to make many industry contacts – indeed, it was through the Chamber that we met PAUL and Devialet, and we are in talks with several other retail members of the Chamber. What would be your top tip for French companies entering the UK market? The competition is tough, but the market does reward innovation and creativity. When entering the UK, it is therefore important to be realistic about your expectations and to have a detailed plan in place. Building your network needs to be a key part of this – winning British business depends on meeting people and networking, rather than cold-call prospecting. It is also essential to adapt your company’s strategy and offer to the market and local culture. While France and the UK are geographically close, the two markets are very different – and adjusting to the culture is vital. It is a challenging market for new entrants, but it is worth the effort.
Being based at the French Chamber has given us access to an amazing network and has helped us to make many industry contacts [...] It was through the Chamber that we met PAUL and Devialet
To find out more about the French Chamber’s Business Centre, please contact Sophie Bosc, Business Consultancy Project Manager, on: email@example.com or 0207 092 6628
54 - info - july / august 2017
NE W ME MBE R S – AT THE CHAMBE R
NEW MEMBERS 1 NEW PATRON MEMBER FLYBE – Airline
Represented by Christine Ourmières-Widener, CEO Flybe is Europe’s largest regional airline operating 226 routes serving 14 countries from 85 departure points – 38 UK and 47 European airports. With headquarters, Training Academy and MRO facilities in Exeter, it connects people and communities with a route network comprising 62% UK Domestic, 28% EuroCity, 7% EuroLeisure and 3% Sun/Ski. Rated regularly top for on-time performance, it also offers a seamless ‘One Stop to the World’ proposition, via its many airline partners from the international hubs it serves With 34 years of continuous operations, Flybe offers a fast, friendly, professional service to 8 million passengers annually. www.flybe.com
5 NEW CORPORATE MEMBERS ADLERE IT consulting firm Represented by Olivier de Pertat, President IT consulting firm specialised in software development, DevOps, functional and technical support, architecture and change management. www.adlere.fr
ANDROS UK Food manufacture and distribution Represented by Jean Louet, Managing Director As a subsidiary of the Andros Group in France, Andros UK shares its activities between the Bonne Maman brand, the UK market leader in jam, and the supply of private label preserves and chilled desserts. Andros UK employs more than 200 people across a London sales office and an innovative factory in Somerset, where the chilled products are manufactured. www.bonnemaman.co.uk
ENTREPRENEURS PARTNERS LLP Investments, consulting and private equity Represented by Bruno Deschamps, Chairman and CEO Entrepreneurs Partners provides capital, experience and a network to entrepreneurs and investors. Its capital arm was launched in 2011 and operates as a syndicate of experienced business angels committed to investing in and mentoring fast-growing European SMEs. Its separate advisory arm, launched in 2010, offers hands-on financial advisory services to institutional shareholders. www.entrepreneurspartners.com
HOLITION Creative technology hub for luxury retail Represented by Jonathan Chippindale, Chief Executive Holition engages in the open exchange of innovation and knowledge, exploring nascent technologies to create new narratives of digital experience. Working almost exclusively within the luxury, fashion and beauty sectors, we speak the language of mathematicians, scientists, strategists, film-makers, anthropologists, artists and retail specialists allowing us to create technology driven user-centric solutions that sit outside those delivered by traditional agencies. www.holition.com
- july / august 2017 - 55
MOORE STEPHENS Accountancy and advisory firm Represented by Herve Mottais, Associate Director Our clients range from individuals and entrepreneurs, to large organisations and complex international businesses, including many in high-tech sectors. We partner with our clients, supporting their aspirations and delivering bespoke, focussed solutions. We provide the full range of services including accounting, outsourcing and tax . For companies involved in technology, this includes everything from R&D support through to Intellectual Property. www.moorestephens.co.uk
10 NEW ACTIVE MEMBERS Agence Lookiimobile – Innovative mobile app & web development agency - www.agence-lookiimobile.co.uk Represented by Julia O’Toole, Founder Brickvest – Online real estate marketplace - www.brickvest.com Represented by Emmanuel Lumineau, CEO Buckles Solicitors – Law firm - www.buckles-law.co.uk Represented by Emilie Bensmihen, Avocat Devonshires Solicitors LLP – Market leading full-service law firm - www.devonshires.com Represented by Nick Billingham, Partner Frenchie Covent Garden – Restaurant - www.frenchiecoventgarden.com Represented by Agathe Corrard, Office Manager Lycée International de Londres Winston Churchill – Bilingual International School located in beautiful new campus in North London - www.lyceeinternational.london Represented by Mireille Rabaté, Founding Head Ponant – Luxury Cruises & Expeditions - www.ponant.com Represented by Stephen Winter, International Sales Director Qare – On Demand Telemedicine - www.qare.london Represented by Nicolas Wolikow, Co-founder Sogal – Leading actor in the field of standard and made to measure furniture - www.ets-sogal.com Represented by Gaël Chalançon, Export Manager WIKANE – Network of consultants for SME - www.wikane.co.uk Represented by Francis Castelin, Director
HATS OFF TO FÉDÉRATION DES ASSOCIATIONS FRANÇAISES DE GRANDE-BRETAGNE Jérôme de Lavenère Lussan has been appointed President of the Fédération des Associations Françaises de Grande-Bretagne, replacing Anne Faure. Lussan, a solicitor by training, is also CEO of global asset management specialists Laven Partners. ICI LONDRES Morgane Macipe is now the Managing Director of French magazine Ici Londres, replacing Henry Schmidt. Macipe was previously Marketing and Sales Manager. In her new role, she is responsible for managing the Ici Londres team and overseeing the magazine’s strategy and development. HEC FOUNDATION Mathieu Gaveau has been appointed as President of the UK Campaign Committee of the HEC Foundation, responsible for growing the fundraising. He takes over from Laure and Jean Fau. Gaveau is currently Head of Rates and FX Trading at Opera Trading Capital. 56 - info - july / august 2017
DI SCOVE R THE CHAMBE R – AT THE CHAMBE R
MAKE THE MOST OUT OF YOUR MEMBERSHIP The French Chamber’s Membership team is on hand to help members make the most of their membership. INFO meets Laurène Herbelin, Head of Membership and Forums & Clubs, to find out more What is the
I would also encourage members to attend and share the
details of our forums with their teams, as our forums (Brexit,
department’s role at
Climate Change & Sustainability, Digital Transformation &
Innovation, Finance, HR and Retail) are open to experts from
My team’s role is to
across our membership base and are free to attend.
recruit new members
Consider using our business services, too. Many members
– from the smallest to
are not aware that we offer competitive, bilingual, expert
the largest companies
business support: we have a dedicated recruitment team
– as well as retain those
to help you hire the right person, a team of professionals to
who are already in the
help with all of your accountancy needs and experts to help
Chamber. There are
you with your implantation and expansion in the UK.
three of us: Aurélie
Finally, give my team a call or email us with any queries!
Simon, Justine Kaouane
We want you to get the most out of your membership and
can advise you on the various ways to get further involved.
Aurélie, who is Senior Laurène Herbelin
What is your own background?
Manager, is also the
My professional background is in fundraising for non-profit
Start-up Lab Manager.
organisations. I joined the Chamber last April after working
Start-ups are a primary focus for the Chamber. We work
as a Development Manager for the ESCP Europe Foundation
to connect start-ups and larger firms and help them do
for three years, based both in Paris and London, where I
business together; it’s a win-win proposal.
raised funds to support the European business school’s
We try and meet our members as much as possible, to
development projects. Prior to this, I worked with the
listen to their concerns and help them make the most of their
Orchestre de Paris and Opéra de Paris. Originally from Paris,
membership. Many of our members do not use us as much
I am a graduate from Sciences Po. I JH
as they could, as they are not aware of all of our activities. As well as being the oldest and largest Foreign Chamber of Commerce in the UK, we are proud to be one of the most
GET IN TOUCH
proactive – from our events to our forums and clubs, our
If members have any questions about their membership
publications to our business services, there are so many ways
or would like to find out more about maximising their
for companies to get involved with the French Chamber. It
involvement with the Chamber, they are encouraged to
is our job to help you with that; so do not hesitate to get in
contact the Membership team directly:
• Laurène Herbelin (Head of Membership and Forums & Clubs): firstname.lastname@example.org or 0207 092 6635
What are the ways that members can maximise their
• Aurélie Simon (Senior Business Development Manager
and Start-up Lab Manager): email@example.com or
To start, come to our events: they are open not only to main
0207 092 6636
or nominated representatives, but to your entire staff. They
• Justine Kaouane (Membership Coordinator):
are prime networking and PR opportunities for members.
firstname.lastname@example.org or 0207 092 6638
Here is my top tip: we always send you the list of participants the day before the event, so look through it and, if there
For more information about our forums and clubs, please
is anyone you want to meet, ask the Chamber team to
contact Ophélie Martinel (Forum and Clubs Project
introduce you – that’s our job. We are always happy to make
Manager): email@example.com or 0207 092 6634
There are so many ways for companies to get involved with the French Chamber, and it is our job to help you with that; so do not hesitate to get in touch info
- july / august 2017 - 57
ANNUAL GENERAL MEETING:
REACHING NEW HEIGHTS More than 100 members convened for the 82nd Annual General Meeting (AGM) of the French Chamber of Great Britain to review 2016’s activities and find out more about the Chamber’s ambitions
eld in Reed Smith’s offices on the 31st floor of Broadgate Tower for
the eighth year in a row, the French Chamber’s AGM was opened by Estelle Brachlianoff, President of the Chamber and Senior Executive Vice President of Veolia UK & Ireland, who welcomed members and thanked the French Ambassador, HE Ms Sylvie Bermann, and her team for attending. Ambassador Bermann addressed the meeting: ‘Against a turbulent political
during her time as French Ambassador
Brachlianoff and Gomez thanked them
background, the French Chamber of
in the UK – she is leaving this summer
warmly for their commitment and
Great Britain is an island of great stability
– Brachlianoff presented her with a gift.
support, which is at the heart of the
and prosperity under the leadership of
‘You have been an Ambassador for our
forums’ and clubs’ success.
Estelle Brachlianoff and with the support
country, but also for the Chamber,’
of the board and the team.
Brachlianoff said, noting she had
‘The Chamber is a bridge between
attended 37 Chamber events during
Peter Alfandary, Senior Vice President
French and British companies by helping
her tenure as Ambassador. ‘We are
of the Chamber then held votes for
their business development in the UK. It
the appointments and renewal of the
helps various components of the value
Chamber’s Board Directors.
chain to work together by coordinating
600 companies of different sectors and
Managing Director Florence Gomez
Morel, President of the French Foreign
sizes, from start-ups to grown-ups.’
then presented her operational report,
Trade Advisors in the UK and Partner and
providing an overview of the Chamber’s
Head of International Corporate, Cripps
providing ‘a unique platform for bouncing
activities and key figures in 2016.
LLP; Olivier Nicolaÿ, UK MD and President
around ideas’ as well as for its ‘important
Last year was a landmark year for the
of the UK and Other Americas Region,
Chamber, with turnover reaching close
Chanel; Nicolas Petrovic, CEO, Eurostar;
to £2.3m – an increase of 5.9 per cent on
and Sir Martin Sorrell, CEO, WPP.
She also praised the Chamber for
‘The Chamber acts as a sounding board – in a positive sense – for the
Four directors were re-elected: Olivier
One new director was appointed
She then outlined the Chamber’s
concerns of the business community and
during 2016: Tanuja Randery, Zone
stakeholders, and is able to influence
objectives for 2017, which includes a
President UK & Ireland, Schneider
policymakers both in the UK and in
focus on Brexit, further engagement with
Electric. Her appointment was also
France, who are keen to engage with it,’
start-ups and increased digitalisation.
approved by members. Votes were held
Nicolas Ribollet, the Chamber’s
Ambassador Bermann explained.
to re-appoint Estelle Brachlianoff as
Treasurer, was next to speak. He noted
President and Stephen Burgin as Vice
words about the recent elections in
that 2016 was an ‘exceptional year’
President of the Chamber, and both were
France and the UK and the impact that
financially for the Chamber, led by
they might have on businesses.
increased demand for the Chamber’s
She concluded by thanking ‘all those
business services, strong cost control and
their support and concluded by praising
who have contributed to the Chamber’s
currency exchange gains.
the entire Chamber team for its hard
She then proceeded to say a few
The Chairs of each forum and club
dynamism’. In recognition of Ambassador Bermann's support of the Chamber
Brachlianoff thanked members for
work and dedication. Attendees were
then presented their activities in 2016
then invited to a networking reception
and provided an outlook for 2017.
overlooking the London skyline. I JH
Key figures (2016) Turnover: £2.3M
58 - info - july / august 2017
Net surplus: £142,000
New members: 126
Total members: 586
A PRACTICAL APPROACH TO HUMAN RESOURCES IN GREAT BRITAIN
New to HR in the UK?
ÂŁ15 200 pages
hether you are working within a large HR team, operating as an external advisor or are a business leader with responsibilities for the HR aspects of your organisation, this guide will help you to prepare for the challenges you face when working with employees in the UK. This guide is also much appreciated by the senior management and HR staff of UK subsidiaries of French companies. Millennials, working conditions, salaries or payroll, the guide provides an overview of all the topics that relate to managing a workforce in Great Britain. It is the reference tool to do HR in the UK! Areas covered include: How to recruit - The legal framework - What salary and benefits? - Payroll, taxation and other charges - Recruitment on the internet - Working conditions
Buy our practical guide on: www.frenchchamber.co.uk
Translated by HL TRAD
Classic with a twist
Quintessential British designer Sir Paul Smith was the guest of honour at the French Chamber’s Luxury Club this spring
t the breakfast, held at Four Seasons Ten Trinity Square,
first fashion show in Paris, in 1976 – that little point of difference.
Luxury Club Chair Tom Meggle, Managing Director UK,
From that first show, the business grew gradually building
Ireland & South Africa at Louis Vuitton, asked Sir Paul
larger and larger. We grew the business over the years and now
about his business, the role of luxury today and how Brexit
we’re in 73 countries, with quite a lot of shops. The hardest
might affect retailers.
thing for me today is how many hats I have to wear. There is Paul Smith the person; Paul Smith the designer and Paul Smith
How did you get into fashion?
Until I turned 18, I had no interest in fashion at all – I wanted to be a racing cyclist. By chance, after a bad crash, I was introduced
How do you view the future of retail? Is bricks and mortar
to a pub, in my home town of Nottingham, where the local art
students went. People were talking about the Bauhaus, and I
Property developers and landlords around the world need to
thought it was a housing estate outside of the city! The creative
understand that there are fewer people going into shops now
world opened up to me, and it was fantastic.
as it isn’t as easy any more, with the congestion charge, parking,
One of the people I met asked me to help them set up a
little shop. I didn’t know anything about shop keeping, but it was
But bricks and mortar shops are still important for a brand’s
a great experience as I had to learn by doing. I’d never done
image. It’s difficult to get your image across on a screen; you’re
anything like that before.
too reliant on words and good imagery. Retailers still need
Three years later, still close to the art school community, I met Pauline, who became my girlfriend and then my wife. She was the turning point in my life; she’d trained in fashion at the Royal College of Art and ended up teaching me, on the kitchen
shops, although they need to find shops that aren’t draining you of money. It’s about balance. Luckily, we own quite a lot of our own buildings outright, so we’re stable. Over the years, I’ve bought where I could.
table, how to cut a pattern and how to design clothes. It was very basic, but I found that I was able to make and
How do you think Brexit might affect retailers?
cut clothes, so I saved up £600 from odd jobs and opened my
Brexit is a complete unknown at the moment, so I honestly can’t
own little shop at the age of 21. It was just 3m by 3m, with no
say. But, to be honest, it hasn’t yet made a difference to us. Prior
windows, and I opened it only on Fridays and Saturdays. The
to the vote, I bought loads of currency and was blessed with
rest of the week, I continued to earn a living doing anything that
getting it right, so we’re still hanging in there.
came along – this paid the rent.
What everyone does need to realise is that Brexit is going to
It’s the reason I’m here today: I realised very early that I
happen, so it’s down to you to be savvy and ‘on it’ and to be flexible.
would have to earn a living at the same time as pursuing my
Keep paying the rent and keep your image high; don’t over-
dream. You need to roll up your sleeves and get on with it. It’s
expand or water down your brand. What is your unique selling
the whole point of my business: to start in a humble way and
point, what is your delight? That’s what you need to figure out.
grow from there. What is the role of luxury and what defines a luxury brand? Simplicity and individuality have been the ingredients to
‘Luxury’ is a word that is abused in many ways today. With so
your success. How did you scale?
much business online, some words are being overused, such as
I never studied fashion at university; I learned it all from Pauline.
‘vintage’, ‘heritage’ and ‘luxury’. Today, you can find loo rolls with
My first clothes were always very simple but always had a little
‘luxury’ written on the pack!
surprise; a hidden colour or secret. This is what they liked at my
Luxury brands need to think of how to describe their work
We’re a leading and uniquely British brand. We mix up one-off antiques with high quality tailoring: the chair you sit on when you buy a suit is for sale and we can wrap the suit and have the chair waiting for you when you get home 60 - info - july / august 2017
Left: French Chamber members listen to Sir Paul Smith speak at the Luxury Club, held at Four Seasons Ten Trinity Square Right: Sir Paul Smith, Founder and CEO of Paul Smith, and Tom Meggle, Managing Director UK, Ireland & South Africa at Louis Vuitton
in a way that truly describes what they do – that you hand-make
What would be your advice to a young designer today?
things or do things in a more personal way. It’s very important.
The thing to remember is that the world doesn’t need another
For example, we do a suit for people to travel in. We could have
designer. There are literally not enough jobs. So ask yourself,
called it a ‘travel suit’, but we ended up calling it ‘A Suit To Travel
what is your point?
In’, because that really captured what it is, as it doesn’t crease.
I see students every week and I always say the same thing to
It’s about lateral thinking and using words in an interesting
them: get out there and get a real job first. Learn those life skills,
way. The concentration span of most people is eight seconds –
how to communicate and be organised – basically, learn how
less than a gold fish! – so you need a catchphrase. The problem
to get on with it. And then balance that with your dream. Start
with authenticity is that no one believes brands anymore. So
with a job you’re not so sure about during the week, but keep
you need to come up with honest and true ways of describing
working on your dream on the weekend. I JH
what you sell, which is hard to do.
WHO IS PAUL SMITH?
n business for over 40 years, Paul
mix a genuine sense of humour and
an unmistakeable Englishness
Smith has established himself as the
mischief with a love of tradition. They
augmented by the unexpected.
quintessential British designer, with
are primarily produced in England
hundreds of standalone shops across
and Italy, with the fabrics used mainly
integral part of the company, as
the world, including 17 in the UK and
of Italian, French and British origin, to
designer, CEO and chairman. As a
more than 200 in Japan, its number
retain a strong sense of heritage as
result, his brand retains a personal
well as quality.
touch often lost in companies of a
Designed in Nottingham and
The brand’s shops reflect
London, the Paul Smith collections
47 YE ARS I N BUSI NESS
Paul Smith continues to be an
Paul’s character and his designs,
30 0+ STO RES
76 COUNTRI ES
£20 0M TU RN OVER
- july / august 2017 - 61
WOMEN'S BUSINESS CLUB
Author and journalist Rachel Johnson was the latest guest to speak at the Women’s Business Club, held on 6 June at Chanel’s Salon Privé. The topic of the day? Politics and Brexit
he event, chaired by Estelle
Brexit: ‘We have a government run by
the Single Market, the customs union
Brachlianoff, Senior Executive Vice
people who wanted to remain inside
and freedom of movement. That’s the
President UK and Ireland at Veolia and
the Single Market and who actually
new game in town.’
President of the French Chamber of
campaigned for Remain. They say that it
Great Britain, welcomed 20 participants,
is the will of the people, but this isn’t the
is not yet acceptable for politicians to
including the French Ambassador, HE
will of the people. Forty-eight percent of
openly push for this.
Ms Sylvie Bermann, who also gave an
us voted against Brexit.’
update on Franco-British affairs. Prior to having lunch, Justine Picardie,
Analysing the General Election
However, there is an issue in that it
‘It is seen as unpatriotic to question what is happening – we’re not allowed
campaign, Johnson added that May had
to say any of this yet. It’s quite Orwellian,
Editor in Chief, Harper’s Bazaar UK and
made a similar mistake to Hilary Clinton
where you have to say that it’s all going
Town & Country UK gave a special talk
– that is, to have tried to build a cult of
to be wonderful because blue birds are
about the fascinating life of Coco Chanel,
personality. ‘But this drew attention to May,
going to be flying over the white cliffs of
of which she is a specialist: her book
and it has not gone down so well. She
Coco Chanel: The legend and the life (2010),
certainly doesn’t have the "Macron factor".’
has been reissued this year. Over lunch, and just two days prior
‘But let me ask: how can the Cabinet stand up and say we will become a great trading nation again and replace the 47
to the UK general election, Rachel
Working on the assumption that the
per cent of our trade with the EU with
Johnson shared her views of the
Conservative Party would gain either a
Canada or New Zealand or India, when
current political context and the British
very slim majority or – as it turned out
our manufacturing base is just 11 per
elections. ‘This has been the most
to be the case – for there to be a hung
cent of the economy and the City is
dismal election of our lifetimes,’ she said.
parliament, Johnson explained this could
going to be decimated by Brexit?’
‘The way the election came about, the
present an opportunity to influence how
choice on offer, the prospects after the
Brexit will be put into action.
election... nothing is looking particularly
‘The reality is that we are going to
Attendees were delighted to hear Johnson’s open, honest views, with many echoing a lot of her opinions. Thank
good. Theresa May has not built up the
have a Brexit; we can’t change that. But
you to Chanel for hosting the lunch,
goodwill of the people or the party.’
we can consider how to change Brexit
Pierre Hermé Paris for their gifts and to
– how we can turn it into a continental
Justine Picardie, Rachel Johnson and the
partnership where we retain access to
Ambassador for speaking. I JH
She also pointed out how no one in government actually wanted a hard
Above : Author and journalist Rachel Johnson (left) and Editor Justine Picardie (right) speak to members of the Women's Business Club, including the French Ambassador, HE Ms Sylvie Bermann, at the event, held on 6 June at Chanel's Salon Privé in London
We have a government run by people who wanted to remain inside the Single Market and who actually campaigned for Remain. They say that it is the will of the people, but this isn’t the will of the people. Forty-eight percent of us voted against Brexit 62 - info - july / august 2017
START-UP & SME CLUB
Finding the BEST MENTOR to help YOU GROW How can fast-growing companies find the best board members and advisors for start-up success?
o achieve successful and sustainable growth, entrepreneurs of early-stage companies often need external support from
mentors and advisors to advise on strategy. But how do you find the ideal person to support you on your growth journey? This was the question posed at a recent Start-up & SME Club. Co-chair of the Club Arnaud de Montille, who is the Cofounder of Merci Maman Personalised Gifts, welcomed JeanPhilippe Verdier, Founding Partner of Verdier & Co Corporate Advisory and Fabrice Bernhard, CTO and Co-founder of fastgrowing tech start-up Theodo, to present on the topic. Verdier started the session by explaining that entrepreneurs must first be clear as to what they want. ‘Be clear with yourself, and with the people you talk to, about what your objectives are. Do you want a formal board of directors or do you want an informal advisory council? What are you expecting from them?’ A board of directors will generally have formal responsibilities to the company’s wellbeing – financial duties, corporate governance elements, formal powers. The second option is to establish a group of people you can go to for purely consultative reasons. ‘This could be a mentor or advisor who can give you their perspective on strategy, who you can effectively discuss your
What matters most is that you are very comfortable with the people that you invite around the table but that they are also able to challenge you and ask you difficult questions. Quite often great things will come from that
ideas with. It’s very important that you think carefully about what it is you want from your advisors, what you will ask them to do and how you will go about it,’ Verdier explained. How do you find the right person for your business? Verdier
‘The mentor, finally, is an experienced person from within your industry, who has been successful and has the credibility to say things that even if you don’t like them, you have to
says it is through tapping into your wider network. ‘Think widely –
accept, as they know what they are talking about and there is
not just your friends or family or your local network, but also your
an element of truth to them.
shareholders, lawyers and bankers, professional organisations and fellow alumni. It’s a long-term game,’ he explained. Fabrice Bernhard echoed this, explaining that what was
‘Our own mentor, Luc de Chammard [Chairman of IT firm Neurones], challenged us constantly and was very harsh with his advice to us, but ultimately it is thanks to him that Theodo
needed for Theodo was a triumvirate of advisors: a sparring
has become successful. He was able to shake us and bang our
partner, a coach and a mentor.
‘The sparring partner is someone you trust and is in a
This was the key point. Start-up founders and SME owners
similar situation to you, who can relate to all of your challenges
must open themselves to challenge. Verdier concluded: ‘What
and help you think outside of the box,’ he explained. ‘The coach
matters most is that you are very comfortable with the people
is a professional who can challenge you on a regular basis but
that you invite around the table but that they are also able to
is not from your industry – they help you to align your vision
challenge you and ask you difficult questions. Quite often great
and your objectives.
things will come from that.’ I JH
- july / august 2017 - 63
Meet the Chairs
What are the ambitions of the Retail Forum? INFO catches up with its Chairs, Alain Harfouche, General Manager UK and Ireland at L’Occitane and Catherine Palmer, Legal & Administrative Director at Joseph
Why was the Retail Forum created?
company. It also fulfils my desire to
AH: The UK retail market represents more than £350bn,
bring people together so that we can
almost 5 per cent of the total UK GDP and employs over
all share and benefit from each other’s
2.8 million people. So it is one of the main drivers of the
experiences and have new ideas.
SIZE OF THE UK RETAIL MARKET
UK economy. The Retail Forum has been created to look at its future. For example, any retailer working with bricks and mortar
Why should French Chamber members join the forum? AH: As a retailer, in the current situation of a lot of unknowns
needs to ask themselves about digital – how are customers’
and uncertainty, you can gain a lot from discussing and
expectations changing? Retail is not about just the product,
sharing best practice with others.
it’s about the experience. How we sell our products and the
By bringing together members of the French Chamber,
journey that we offer to customers is the key. It is important
the Retail Forum is a great opportunity to gain insight into
to think about that – and work on it – right now. That is what
the important operational and strategic issues affecting the
the Retail Forum will help retailers do.
market. It gives you the opportunity to develop a vision of
CP: It is important to underline and showcase the retail
where you want to go and address the main questions you
sector’s impact on the British economy and London
have through benchmarking and hearing from experts.
CP: Beyond the networking opportunities, being a member
What can we do, as the Retail Forum, to support the sector’s
of the Retail Forum means becoming part of a support
growth through uncertain times? However useful it is to share
group where you can share best practice and ideas and
ideas together, we will not just be a talking shop – in time, the
help us become a force for good, influencing the retail
idea is to develop a group that can have a real impact.
landscape.’ I JH
Why did you agree to Chair the Retail Forum? AH: I am fairly new to the UK market, so Co-charing the Retail Forum is a good opportunity for me to better understand the specificities of the UK retail market – understanding the customer, but also the legal framework and how the UK is moving compared to other countries. It also gives me the opportunity to share some of my own international experience and help bring a different perspective about how retail has been evolving outside of the UK. CP: I agreed to Co-chair as it is important to not just work in your own little bubble day in, day out, working in your
Retail is not about just the product, it’s about the experience. How we sell our products and the journey that we offer to customers is the key. It is important to think about that – and work on it – right now. That is what the Retail Forum will help retailers do
The Retail Forum is aimed at CEOs, Managing Directors and senior representatives of Retail Brands. For more information and to join the Forum, please contact Ophélie Martinel, Forums & Clubs Project Manager, at firstname.lastname@example.org or 0207 092 6634 64 - info - july / august 2017
A new Retail Forum has launched at the French Chamber, co-chaired by Alain Harfouche, General Manager UK and Ireland of L’Occitane and Catherine Palmer, Legal & Administrative Director at Joseph
he French Chamber’s new Retail Forum successfully launched with
a brainstorming session held on 25 May. More than 25 participants joined the session, which was held to decide on the format and themes of the year ahead. The session was opened by Florence Gomez, Managing Director of the French Chamber, who welcomed the attendees and the two Co-chairs. ‘Our forums play an important role to facilitate our members sharing
sectoral range of members, the Retail
are very clear; otherwise you run the
experiences, expertise and challenges
Forum promises to tackle the important
risk of just scratching the surface.’
together. The Retail Forum will also
issues affecting the UK retail sector
enable targeted networking and
today – and into the future.
create a real ecosystem for our retail members,’ she said.
From companies operating in food
The themes that were mostmentioned during the roundtable discussion, and which were adopted
and drink (attendees included Caviar
as forthcoming themes for the forum,
Petrossian, Ladurée, La Maison Maille
the Co-chairs explained how they
and Savencia among others) through to
• Property: Key challenges and drivers
viewed the future format and themes
fashion (CWF Retail, Joseph, Value Retail),
• The customer: Insights into
of the Retail Forum. ‘From the impact
interior decoration (A Sprinkle of Deco
customer behaviour and psychology,
of artificial intelligence through to the
and Art, Ligne Roset), travel (Lagardère
into traffic and footfall
future of retail, I am looking forward to
Travel Retail), beauty (L'Occitane),
• Retail business models: Bricks and
debating themes that affect everyone in
and retail industry providers (CBRE,
mortar vs online; subscription models;
retail,’ said Catherine Palmer.
Econocom, Eptica, PwC, Schneider
new operating models and disruptors
Electric, Vision de Marques) – the opening
• The future of retail: What will be the
members in attendance had all the
session brought together key players
impact of AI, AR and VR? What is the impact
expertise needed to make the Retail
from right across the retail industry.
of digital? What are tomorrow’s trends?
Forum a success. ‘We have all of the
The Chairs led a brainstorm to
The themes will continue to be
resources and assets around the table to
decide on the forthcoming themes. It
refined throughout the year, to ensure
build a great retail company,’ he quipped.
was decided that, with five two-hour
that they are as relevant as possible, the
‘This is why we can make this forum very
sessions per year, the emphasis should
Chairs concluded. ‘I feel really confident
interesting and interactive – each person
be on themes that are relevant to all
that we’ll have very interesting and
can bring something to the table.’
categories of retail businesses. ‘We must
lively debates throughout the year,’ concluded Palmer. I JH
Having introduced themselves,
Alain Harfouche added that the
Having attracted a true cross-
be very focused and find subjects that
We have all of the resources and assets around the table to build a great retail company. This is why we can make this forum very interesting and interactive – each person can bring something to the table info
- july / august 2017 - 65
DIGITAL TRANSFORMATION & INNOVATION FORUM
Discover the new customer journey How have the internet and big data changed the way that businesses deal with customers? The latest Digital Transformation & Innovation Forum explored the new customer journey
ntroducing the session, held on 8 June
questions, they must bring emotion,
at the Chamber, Forum Co-chair Lucien
authenticity and reassure the customer
Boyer, Chief Marketing Officer of Vivendi,
– humans are there to provide the
explained that his own company has
empathy that machines cannot. When
had to fundamentally transform the way
the consumer gets to you, a person,
that it interacts with consumers.
it’s because the machine isn’t able to
‘Vivendi has, by definition, been
help them and they expect something
completely disrupted by digital
transformation. We’ve learned a lot in have changed their habits and consume
our content and services,’ he said. ‘But
Using real-life examples, Baschiera
the last 15 years about how consumers
technology and data have also helped us to better understand our consumers and how we can engage audiences with
85% OF INTERACTIONS BETWEEN
INDIVIDUALS AND BRANDS WILL BE AUTOMATED BY 2020
evolving the customer experience, often using data to achieve seamless communication with end users.
meaningful content.’ The two speakers invited to the
then explained how companies are
themselves, to be autonomous. They
‘Driven by technology shifts,
session – Olivier Njamfa, CEO of
don’t want to talk to you; they just want
businesses are moving from being
multichannel customer interaction
their problem to be solved.’
data and content oriented to being
software firm Eptica and Antoine
Njamfa said that customers value
customer oriented. Where businesses
Baschiera, CEO of Early Metrics,
convenience over price and are happy
used to have separate IT and marketing
the rating agency for start-ups and
with an autonomous journey. ‘Do not
departments, they have now merged
innovative SMEs – were tasked with
think that if you are not interacting with
them into a customer service
explaining how companies can harness
your customers, you won’t sell. You
department. It needs to be integrated.’
big data and new technologies to adapt
can actually sell more by allowing the
to new customers.
customer to do the journey themselves.’
Njamfa explained how consumer
The technology already exists to
For example, a major trend is mass personalisation: customers want quality products quickly and cheaply, but
behaviour continues to evolve and
support the fluid customer journey,
they also want it to be personalised.
the impact this has on customer
he added. Chatbots and artificial
Technology exists to support this. ‘Media
service. ‘Consumers want to be able to
intelligence are fundamentally
sites are shifting to personalisation,
communicate seamlessly with brands
transforming customer service. ‘It
where they offer personalised
through any channel, which can be a
gives the customer the ability to find
recommendations on their home page
nightmare for brands,’ he said.
a solution and move on,’ explained
to premium users,’ Baschiera
Njamfa, adding that researchers
explained. ‘It’s no longer a case of
expect that 85 per cent of interactions
simply “content is king”, it’s now
In order to meet demand, brands must
between individuals and brands will be
“personalised content is king”.’
adopt what he called a ‘fluid customer
automated by 2020.
Fluid customer journey
journey’ – that is, ensuring that you bring
For those interactions where actual
He concluded: ‘The market is shifting. Businesses are ready to go the
simplicity, ease and flexibility for the
humans are still involved in customer
extra mile to know who the customer
consumer. This does not mean hiring
service, brands must go the extra mile.
is and make it easier for them to buy –
more customer service representatives:
‘A human shouldn’t do a robot's job.
and the technology is there to support
‘Customers want a way to help
The human isn’t there to answer simple
that.’ I JH
Where businesses used to have separate IT and marketing departments, they have now merged them into a customer service department 66 - info - july / august 2017
M&A: Don't wait to integrate A successful M&A depends on companies’ ability to effectively integrate with one another
He added that this means working out how
company following a merger or acquisition
the business will be set up, what it will look like
was discussed during a recent Finance
and who will lead it. ‘You need to set your
Forum, held at the French Chamber,
people up for success,’ he noted.
which gathered 21 CFOs and senior
representatives of financial, regulatory and
‘During M&A transactions, everyone is very
academic institutions. From integrating
hyped about doing the due diligence and
people, to integrating brands, products and
completing the transaction – but the key is
much more, effectively bringing together two
completing the integration,’ he explained.
companies and developing their synergies can
‘Integrating successfully after an M&A
be a complex task.
will impact on the company’s valuation and
The session, which was Chaired by Rob Guyler,
reputation – it can make or break a CEO’s career.
CFO of EDF Energy, welcomed two M&A experts to dissect
Therefore, the value of the integration must be recognised
what makes a successful integration: Neil Boss, Partner, Financial
and those tasked with achieving the integration must be
Advisory – Transaction Services at Deloitte; and Alejandro
Vicente, Senior Vice President and Global Head of M&A at Coty.
People must always be at the heart of the transaction and
Boss was first to speak, highlighting how important it is for
integration, he added. ‘It’s really about the people,’ said Vicente.
companies to focus on the integration from the get-go. While, in the past, the focus was on ‘post-merger integrations’, this is no longer the case: ‘You must think about
‘At Coty, we always ensure that there is one person at the very top that is responsible for the integration, and they have the authority to do what it takes to make it a success.’ I JH
the integration a long time before you begin. If you only start to think about integration on the day that the deal is signed, you’ve missed a trick,’ said Boss. ‘Integration must be part of the overall transaction. Smart acquirers have a plan in place for what they will do on day one of the completion.’
Integrating successfully after an M&A will impact on the company’s valuation and reputation – it can make or break a CEO’s career
4 KEYS FOR A SUCCESSFUL INTEGRATION Neil Boss, Partner, Financial Advisory – Transaction Services, Deloitte, listed four important considerations to a successful integration:
1 Leadership and governance:
outcomes of the integration? Get on
4 People: ‘People are the most
‘You must be very clear about who
top of this to over-deliver and you can
important piece. The value you create
is accountable for running the
diffuse any “bad” news.’
will depend on bringing certainty
integration programme. Who is on
to individuals. That doesn’t mean
the hook for delivering this? Are your
3 Operating model and
best people allocated to it – and do
organisation design: ‘Be clear and
them know what their position will
you have the capacity to free them up
aligned for what the operating model
be from day one, but you do need
to make integration their day job?’
of the new business will be. Decide
to communicate that you have a
what is right for your business: what
plan for them. Transparency and
2 Realisation of value: ‘Put all of
guaranteeing their job or letting
will its shape be and how will it be
communication around people is
the synergies at the heart of your
structured and led? You don’t want
absolutely key. Smart acquirers
integration programme and design
to spend your first 100 days deciding
understand that and invest a lot into
around it. What are the positive
who will be a part of the top team.’
- july / august 2017 - 67
CONFIDENTIALITY: HL TRAD, THE MARKET LEADER IN EUROPE FOR LEGAL & FINANCIAL TRANSLATION, IS ENHANCING DATA EXCHANGE SECURITY. Founded in 2006, the translation agency HL TRAD provides services to banks, investment banks, legal departments of large groups, law firms, consulting firms and to managers of SMEs requiring translations of their legal or financial documents. Interview with Éric Le Poole, Chairman and founding partner: You have grown very rapidly at the international level. What is your current organisational structure? Our presence in Europe consists of our head office in Paris and further offices in Brussels, London, Geneva, Amsterdam, Milan and Frankfurt. We have 50 salaried employees (190 FTEs) and work with some 3,000 translators around the globe, most of whom are based in Europe.
How do you explain the success of HL TRAD? In 2006, my business partner and I founded HL TRAD with the conviction that the market was relatively poorly served by predominantly generalist agencies. We therefore designed our range of services according to two main principles: high sector specialisation and responsiveness. We work 24/7 and make a commitment to our clients that we will provide a quote within 1 hour. The number of language combinations, our professionalism and the quality of our services, have enabled us to achieve sustained double-digit growth since 2006. We are obviously very proud to be among the most successful players in the translation field in Europe.
Quality Control Department
We translate into over one hundred languages. Furthermore, our translators are not only language specialists (translating only into their mother tongue) but also offer a technical specialisation (in law or finance) and are mostly graduates of renowned translation schools, from the fields of law or finance. On the commercial front, each Client Manager handles a dedicated portfolio of clients. For significant and regular translation requirements, HL TRAD offers a dedicated team and e-mail address for priority processing of the client’s requirements and to ensure absolute consistency between one project and the next.
What are your plans for 2017? For 2017 we are plan to establish a ‘data room’-type translation platform, open additional offices in Europe, strengthen our project management team in Canada, implement a new quality module and gain certain niche clients in Europe. It promises to be an exciting year!
Confidentiality: a priority for HL TRAD In 2016, HL TRAD set up a ‘Secure FTP’ platform for secure and simplified file transfer, ensuring the confidentiality of all shared data.
Info & contact at www.hltrad.com
HR FORUM HR FORUM
Time to get culturally intelligent What role does cultural intelligence play in business success? Peter Alfandary, Senior Vice President of the French Chamber, shared his insight with the HR Forum
aving the right skills to manage multicultural teams requires cultural intelligence, Peter Alfandary told attendees of the
HR Forum on 4 May.
how to work smarter.’ It goes without saying that cultural intelligence is important in all organisations. Alfandary pointed to a study, conducted by
Chaired by Pia Dekkers, Regional HR Divisional Director at
the Economist Intelligence Unit in 2012, which interviewed 600
Chanel and Jean-Baptiste Aloy, Executive Director, Employee
global CEOs and concluded that cultural misunderstandings
Research at Ipsos MORI, the session focused on the what, why
was one of the biggest challenges in the international business
and how of cultural intelligence.
Alfandary started the session by listing some of the common gripes he hears through his work with multicultural
organisations: ‘My French boss challenges me all the time; he
Alfandary welcomed the fact that cultural intelligence was
doesn’t trust my work,’ or ‘My French boss never says well done
becoming a key focus for managers across the globe, but it
or thank you; clearly he obviously doesn’t value me,’ or even
needs to be further appreciated.
‘The Brits I work with seem hypocritical and lacking in intellectual rigour’. He said this illustrates perfectly why cultural intelligence is needed; without it, fundamental misunderstandings occur.
‘You need to understand that there is a cultural iceberg. What you perceive when working with someone from a different culture is just the tip of the iceberg; it’s vital that you consider what is under the water line.’
‘There is IQ, EQ and now CQ – cultural quotient. It is your
He added that to excel at cultural intelligence, you need to
ability to deal effectively when there is more than one culture
be introspective. ‘You can’t be emotionally intelligent without
involved,’ Alfandary explained. ‘It must be approached as
self awareness and self understanding. How you are perceived
a management skill designed to enable you to work more
plays a big part. Understand yourself first in order to get a feel
effectively, more harmoniously and more productively. It’s about
for culture.’ I JH
THREE INFLUENCES 1. U N D ER LY I N G PSYCH E: ‘Although France and the UK are essentially secular countries, the English psyche is to a certain extent still engrained with the Protestant work ethic and a suspicion of authority. But the opposite is often true in France: the underlying psyche is perhaps more a Catholic one, with obedience given to the higher authority. This has a big effect on how we do business. 2. Q UA L I FI C AT I O NS: ‘Rather than academic qualifications, experience can be the route to power in the UK. You can become CEO of a FTSE 100 company without going to university. Meanwhile, the French remain obsessed with education, which is often seen as the path to authority. What is the first thing you usually see under the photo of French board directors? Which grande école they went to. The Brits just don’t get that.’ 3. ED U C AT I O N SYST EM: ‘The motivator in the English education system tends to be positive encouragement and finding the “thing” that you are good at. In contrast, the motivator in the French system, is often more on negative reinforcement. It’s more about the stick than the carrot. To some extent, this sometimes appears to transcend into corporate life.’
Curious to learn more? Our ‘Light at the end of the tunnel’ booklet is full of shrewd insights into the differences between French and British business cultures – and how to adapt. £6. Available at: www.frenchchamber.co.uk.
- july / august 2017 - 69
CLIMATE CHANGE & SUSTAINABILITY FORUM
Tackling climate change through agriculture 19%
OF EMISSIONS STEM FROM AGRICULTURE IN FRANCE
ric Giry gave an in-depth talk about the impact of climate change on the agricultural industry in France, and what the
French Government is doing to respond. Giry was welcomed at the Climate Change & Sustainability
How can agriculture help to tackle climate change, asked Eric Giry, Agricultural Counsellor at the French Embassy at the Climate Change & Sustainability Forum
While no specific target for reductions has been set at a European level, the discussion is for France to reduce emissions from agriculture by 13 per cent by 2030. To work towards reducing emissions, the French government has
Forum by its Chairs, Richard Brown, the former CEO and
national-wide plans that deal with climate change adaptation
Chairman of Eurostar and the Chairman of the Department for
and mitigation, and then each region also must put into place
Transport’s Franchise Advisory Panel, and Jean-Philippe Verdier,
its own plan for sustainable agriculture – i.e. the bioeconomy.
Founding Partner of Verdier & Co Corporate Advisory. With a
In practice, this means promoting standards and
25-year career in government, working across all agricultural
certification for bioeconomy products, improving industrial
policy issues, Giry was the ideal person to present on France’s
innovation, producing ‘more and better’, opening a dialogue
with society and developing targeted research.
‘We are facing tremendous challenges,’ he explained.
‘There is no silver bullet; you need to find the right solution
‘Agriculture is deeply and strongly affected by climate change
for each type of farm, in order to support their autonomy and
while, at the same time, being one of the most important
resilience. Both economic and environmental issues are crucial
emitters of greenhouse gases.’
and cannot be dealt with separately,’ concluded Giry. ‘This
The agriculture sector in France is estimated to be
means explaining and showcasing how farms can benefit this.
responsible for 19 per cent of overall emissions, behind
Our ambition is to inspire and mobilise all stakeholders in the
transport and industry. There are three main gases that stem
supply chain, as well as consumers and citizens.’ I JH
from agricultural activities: nitrous oxide accounts for 43 per cent and comes primarily from nitrogen fertiliser and livestock effluence; methane is another 43 per cent and is mainly due to intestinal fermentation and effluent storage; and carbon dioxide represents 14 per cent, through energy consumption in farming. For French policymakers, a key challenge is that farmers cannot simply stop producing in order to reduce greenhouse gas emissions. ‘Food security is crucial. This isn’t the same type of economic system as other sectors, we need to take care, through our actions, that we are able to feed people in the future,’ Giry explained.
WHAT IS FRANCE’S STRATEGIC ACTION PLAN FOR A SUSTAINABLE BIOECONOMY? • Promote new products and solutions, based on innovation, for the ecological and energy transitions • Ensure new economic opportunities for agriculture, forestry, fisheries and rural territories • Strengthen sustainability of the global system, producing ‘food first’ and minimising the environmental impact
We are facing tremendous challenges. Agriculture is deeply and strongly affected by climate change while, at the same time, being one of the most important emitters of greenhouse gases 70 - info - july / august 2017
FORTHCOMING FORUMS & CLUBS By application only
Sept. 10.00 - 12.00
CLIMATE CHANGE AND SUSTAINABILIT Y FORUM Visit Olympic Park Energy Centre (organised with ENGIE UK & Ireland)
Regulations / Customs Union Guest speaker: Sir John Keefe, Director of Public Affairs, Eurotunnel Group 08.30 - 10.00 Co-chairs: Angela Hepworth, Corporate Policy and Regulation Director at EDF Energy and Neil Sherlock CBE, Partner, Head of Reputational Strategy at PwC Sept.
08.30 - 10.00
08.30 - 10.00
START-UP & SME CLUB Personal branding is the new marketing: are you onboard? Co-chairs: Arnaud de Montille, Founder of Merci Maman Personalised Gifts and Jeanne Monchovet, Founder of Olystix
RETAIL FORUM Customers: Insights into customer behaviour and psychology Co-chairs: Alain Harfouche, General Manager UK & Ireland, L’Occitane and Catherine Palmer, Legal & Administrative Director, Joseph
The benefits of flexible working Guest speaker: Chris Dunford, Human Resources Director - Global Service Delivery, 08.30 - 10.00 American Express Global Business Travel Co-chairs: Pia Dekkers, Regional HR Divisional Director, Chanel Ltd and Jean-Baptiste Aloy, Executive Director, Employee Research, Ipsos MORI Sept.
CLIMATE CHANGE & SUSTAINABILIT Y FORUM
DIGITAL TR ANSFORMATION & INNOVATION FORUM
Wind and solar energy: the global rise of the two prominent clean energy sources 10.00 - 12.00 in the overall energy mix Co-chairs: Richard Brown CBE, Former CEO & Chairman of Eurostar and Jean-Philippe Verdier, Founding Partner, Verdier & Co Corporate Advisory
Platforms: the number one wealth creators in the 21st century, or the emergence of 09.00 - 11.00 new business models Guest speakers: Benoit Reillier, Managing Director, Launchworks Ventures Ltd Co-chairs: Christophe Chazot, Group Head of Innovation, HSBC and Lucien Boyer, Chief Marketing Officer, Vivendi
08.30 - 10.00
FINANCE FORUM The CFO, when and why do you need one? Co-chairs: John Peachey, Chief Financial Officer, Global Markets, HSBC Bank Plc and Rob Guyler, CFO at EDF Energy
All sessions, excluding the Luxury Club's & Women's Business Club's, take place at the French Chamber. For more information, please contact Ophélie Martinel at email@example.com or 0207 092 6634
- july / august 2017 - 71
PAST EVENT HIGHLIGHTS RENDEZ-VOUS CHEZ... DEVIALET, 25 APRIL
RENDEZ-VOUS CHEZ... LA MAISON MAILLE, 11 MAY
Implosive sound experience
A treat for bons vivants
est known for its revolutionary Phantom speaker, high tech French company Devialet welcomed 25 attendees for a popular ‘Rendez-vous chez Devialet’ on 25 April. Victor d’Allancé, General Manager UK and Ireland for Devialet, welcomed guests and told the company’s growth story before giving a demonstration of its high-end implosive sound system in a specially-designed room. Guests then mingled and networked over canapés and drinks – an invigorating evening for all. Thank you to Victor for being such a welcoming host. I
urveyor of high-quality French condiments since 1747, Maille continues to thrive today, as members discovered at a Rendez-vous chez La Maison Maille, held in its Piccadilly Arcade store on 11 May. Black truffle and Chablis; fig, coriander and white wine; saffron and Isigny crème mustards... guests were treated to an exclusive mustard tasting by Maille’s inhouse mustard sommelier before spending the evening networking over wine and canapés. Thank you to Harry Lalousis, Maille Ambassador and Mustard Sommelier and Global Culinary Content Manager Unilever/Maille, for hosting the event and holding a lucky draw for one lucky guest (Shabir Djakiodine, Director, Euro Accounting) who left with a ‘coffret moutarde à la truffe’. I
RENDEZ-VOUS CHEZ... BOUCHERON, 7 JUNE
PA CLUB AT HIPPODROME CASINO, 15 JUNE
Shine bright like a diamond
London’s most popular venue
est known for being a visionary designer and the first jeweller of the Place Vendôme, Boucheron welcomed 40 French Chamber guests for its Rendez-vous chez Boucheron on 7 June. Created by Frédéric Boucheron in 1858, the brand has been built through four generations of direct descendants. Boucheron’s Bond Street Store Manager Peter Heron and Brand Ambassador Camilla Cretti enchanted guests by showcasing some of Boucheron’s finest pieces before holding a lucky draw for three prizes (a pair of Boucheron sunglasses and two perfumes). Guests then enjoyed networking throughout the evening with new business contacts during a cocktail reception and over food kindly provided by Aubaine. I
72 - info - july / august 2017
he Hippodrome Casino’s CEO and Chairman, Simon Thomas, hosted personal assistants from French Chamber member companies for the latest PA Club, held at the Leicester Square-based casino and entertainment venue. Following a few words about the Casino’s history – read more about the Hippodrome’s incredible past on page 51 – Thomas delighted his guests by inviting them to attend the evening show, which featured French singer-songwriter Jeanne Cherhal. Thank you to Simon and his team for their very generous welcome and for the excellent food and drinks provided to the PA Club attendees I
E VE NT S – AT THE CHAMBE R
LONDON PHILHARMONIC ORCHESTRA , 26 APRIL
An evening of masterpieces
atron members of the Chamber were treated to an evening
Internationally-acclaimed Conductor Marek Janowski led
of masterpieces at the Royal Festival Hall on 26 April.
bass-baritone Egils Silins and the London Philharmonic
Starting with Champagne and canapés in St Paul’s Pavilion,
Orchestra through a collection of pieces including Wagner’s
30 French Chamber Patron members were welcomed by
Overture of The Flying Dutchman, Wotan’s Farewell and Magic
Timothy Walker AM, Chief Executive and Artistic Director of the
Fire Music from The Valkyrie plus Bruckner’s Symphony No. 7.
London Philharmonic Orchestra before the ‘Heaven and Earth’ concert.
Thank you to Timothy and his entire team for welcoming us to what was a splendid, magical evening of music. I
Above: Patron members enjoyed hearing music played by the London Philharmonic Orchestra under the baton of Marek Janowski (centre)
AN EVENING WITH IL VOLO, 23 MAY
The new Three tenors
ward-winning pop-opera group Il Volo is one of the biggest names in the classical-crossover genre, with a sound that combines traditional opera, pop and classical symphonic music. Piero Barone, Ignazio Boschetto and Gianluca Ginoble were discovered by renowned manager Michel Torpedine – the man who discovered the great Italian tenor Andrea Bocelli. In just a few years, the trio have astonished audiences all over the world with their vocal talent and stage presence, becoming worldwide multi-platinum recording artists. On 23 May, French Chamber Patron members were invited to attend the group’s debut performance at the historic Royal Albert Hall. Guests were welcomed over drinks and canapés by Craig Hassall, Chief Executive, and James Ainscough, Chief Operating and Financial Officer of the Royal Albert Hall. Ainscough spoke of the friendship between the Royal Albert Hall and the French Chamber before inviting guests to proceed to their Grand Tier Boxes in the Hall to enjoy the performance. Thank you to Craig and James for their warm welcome and the wonderful evening. I
Right: Guests mingled in a private room prior to listening to popopera group Il Volo's debut performance at the Royal Albert Hall, held on 23 May
- july / august 2017 - 73
JARDIN BLANC AT THE RHS CHELSEA FLOWER SHOW, 25 MAY
Enchanting garden for foodies
estled in a peaceful corner of the RHS Chelsea Flower Show – which ran from 23-27 May – Jardin Blanc
provided a private haven for guests to unwind and enjoy the Michelin-starred cuisine of Chef Raymond Blanc OBE, who had partnered with Sodexo to be the show’s official hospitality partner. French Chamber Patron members were invited to spend an evening with the Chef himself at Jardin Blanc on 25 May. The Chamber’s 23 guests were thrilled to be personally welcomed by Chef Raymond before enjoying a menu that encapsulated his passion for seasonality, locality and great quality ingredients direct from the garden of his two Michelin-star Belmond Le Manoir aux Quat’Saisons. It was the perfect occasion to celebrate flowers, gardens and enjoy a game of pétanque while sipping spring cocktails freshly made at the Jardin Blanc bar and, of course, to enjoy a gastronomic selection of food. Thank you to Chef Raymond for hosting this special event and to Mercedes-
Above: Guests enjoying the pleasant evening at Jardin Blanc
Benz for providing cars and chauffeurs for the guests. I Chef Raymond Blanc is hosting a Dîner des Chefs at Belmond Le Manoir aux Quat’Saisons for French Chamber members on 26
Left: Chef Raymond Blanc and French Ambassador HE Ms Sylvie Bermann
September. Join us to discover the world-famous chef’s culinary talents and be part of a unique dining experience – full details are on page 79.
DÎNER DES CHEFS AT HYATT REGENCY LONDON – THE CHURCHILL , 14 JUNE
A Michelin-starred delight
angoustine and Petrossian caviar with a wild fennel
Château Pape Clément) and topped off with Martell Cordon
reduction; white asparagus, buttermilk and verjus sauce with
Bleu Cognac. A huge thank you to Arnaud de Saint-Exupéry, to
shavings of Bigorre ham; lamb medallions, wild garlic, grains
Chef Jean-François Rouquette for the meal and for spending
de paradis and blood orange jus; choux pastry stuffed with
time with guests and to Hyatt Regency London – The Churchill
wild strawberries... the menu prepared by Chef Jean-François
for hosting. Thank you also to our partners: Crus Classés de
Rouquette for the Dîner des Chefs at Hyatt Regency London –
Graves, Martell, Perrier-Jouët, Petrossian and Pernod Ricard UK.
The Churchill was truly exceptional.
The evening was a delight! I
Thanks to Arnaud de Saint-Exupéry, Area Vice President and General Manager UK & Ireland, Hyatt Hotels Corporation, the Executive Chef of Pur’ Park Hyatt Paris-Vendôme came to London especially for the event, which brought together 50 guests from the French Chamber. The evening started off with a Champagne Perrier-Jouët reception and canapés, where attendees were able to mingle and get to know each other better before sitting down for the five-course gastronomic meal. The drinks served alongside the meal were equally exceptional, featuring red and white fine wines provided by Les Crus Classés de Graves (from Château Bouscaut, Château Couhins, Château Malartic Lagravière and 74 - info - july / august 2017
E VE NT S – AT THE CHAMBE R
FRENCH OPEN 2017 AT ROLAND GARROS, 8 JUNE
Game, set, match
rench Chamber Patron member Lacoste kindly invited 12 fellow members to Paris to attend the French Open 2017 semi-finals at Roland Garros on 8 June. Lacoste has been a partner of the French Open at Roland Garros for 45 years. Following a train ride from London to Paris in the morning, the group watched the mixed doubles finals before being invited to a private lunch in the Lacoste Premium Lounge. A sun-filled afternoon then ensued, where guests watched the first ladies' singles semi-final match with Jelena Ostapenko, the 20-year-old Latvian player who went on to win the tournament, before returning to London in the evening. Thank you to Lacoste for the delightful sport-filled day at the French Open, and a special thank you to Eurostar for providing the return travel to Paris. I Pictured (clockwise, from top left): Laurent Feniou (Managing Director, Cartier), Arnaud de Saint-Exupéry (Area Vice President UK & Ireland, Hyatt Hotels Corporation), Nicolas Petrovic (Chief Executive, Eurostar), Lizanne Senior (Head of PR & Marketing, Lacoste), Florence Gomez (Managing Director, French Chamber), Diane Mullenex (Partner – Head of the Global Telecoms and Gaming Practice, Pinsent Masons), Helena Kavanagh (Managing Director, JC Decaux UK), Paul Lorraine (General Manager UK, Longchamp), Olivier Carret (Vice President, UK Nuclear Project, ENGIE), Edmond Francey (Head of Department, Post-War & Contemporary Art, London, Christies), Frédéric Ichay (Partner, Corporate and M&A, Pinsent Masons) and Robison Randriaharimalala (Composer and Songwriter)
CURRENT AFFAIRS UPDATE, 25 APRIL
A morning of passionate discussion
n between the two rounds of the French presidential election, the French Chamber held its first Current Affairs Update of 2017. With plenty of twists and turns, the French presidential election was one of the most unpredictable in history. Following the vote for Brexit and the election of Donald Trump as US President, no scenario could be dismissed. In order to break down likely outcomes, the event gathered four expert speakers to look at the trends. Laurent Bigorgne, Executive Director of the eminent French think tank Institut Montaigne; Florentin Collomp, UK Correspondent for Le Figaro; Sonia Delesalle-Stolper, UK and Ireland Correspondent for Libération; and John Peet, Europe Editor for The Economist joined our moderator, Philippe Chalon, Director of External Affairs at International SOS and Chair of the Current Affairs Updates, at the Institut Français for a passionate morning discussion. Having introduced the speakers, Chalon asked each to comment on the first round of the French presidential election before moderating an open discussion on the candidates’
programmes and the potential impact each would have on the economy, Brexit and Franco-British relations. Thank you to Philippe Chalon for expertly moderating the debate, to the speakers for their time, to the Institut Français for hosting the event and to Aubaine for the breakfast buffet. I
- july / august 2017 - 75
BREAKFAST WITH TANUJA RANDERY
Businesses must become three times more energy efficient in order to successfully tackle the issue of climate change, explained Tanuja Randery, Zone President UK & Ireland, Schneider Electric, at the latest ‘Breakfast with...’
t the event, held on 5 May at the Berkeley Hotel, Tanuja Randery, who is also a Board Member of
the French Chamber of Great Britain, issued a call to arms for businesses to fully embrace technology in order to take action on climate change. Following a breakfast generously sponsored by PAUL UK, more than 60 attendees had the opportunity to hear Randery speak about the role that technology plays in improving energy efficiency and, thus, tackling climate change. Peter Alfandary, Senior Vice President of the French Chamber and
trends that are likely to affect energy
human side: currently, 1.3 billion
Head of the French Team at Reed Smith,
efficiency in the future:
people have no access to electricity
introduced Randery, who started her
and another two billion people have no
speech by explaining why energy
efficiency is such an important topic
to be adding 70 million more people
both to her and and to businesses.
to cities, every single year for the next
asked the audience. ‘When energy
‘We are going
access to reliable energy sources. ‘What can we do about this?’ she
30 years. That is equivalent to building
consumption is expected to grow by
every morning is Schneider Electric’s
seven cities the size of Paris every single
1.5 times over the next 40 years, and
purpose: to make energy a basic human
year – it’s very significant.’
in order to reach our climate change
‘The thing that brings me to work
right,’ she said. ‘This morning, I want to talk about what each of us can –
2. Connectivity: ‘We will be
individually and collectively – do to make
connecting 20 times more devices to
a big difference.’
the internet than we will be connecting
She added that this was driven by automation and the industrial Internet of Things. ‘Disruption is no longer about
goals we actually need to cut our carbon emissions, then it’s very simple maths: we need to be three times more efficient. ‘If we do not become three times
people. That means more data, more
more efficient, we are never going to
storage and a huge demand on energy.’
be able to gain control of our energy. This “3x” problem is real; it’s the largest
products; it’s about disrupting business
models,’ she explained. ‘The changes
companies account for 30 per cent of
that we’re experiencing are around mass
consumption of energy today and this
customisation. For companies like ours,
is expected to grow to 50 per cent. The
in the engineering space, this means
only way we can address this is by using
The solution: Leveraging the power of the Industrial Internet of Things
mass “software-isation”, which means
The Industrial Internet of Things is
‘the fourth industrial revolution’, said
leveraging digital and making a significant change to the world of energy.’ Randery highlighted three major
problem we face today.’
She added that it is also essential to take into consideration the important
Tanuja, which will help to tackle the energy problem. This is driven by four
If we do not become three times more efficient, we are never going to be able to gain control of our energy. This “3x” problem is real; it’s the biggest problem we face today 76 - info - july / august 2017
E VE NT S – AT THE CHAMBE R
main factors: the rise in data volumes;
Schneider Electric itself
analytics and business intelligence
undertook an efficiency
(increasing business efficiency); human-
programme for its
machine interaction; and robotics.
headquarters, putting into
Indeed, McKinsey Global Institute
place a modern building
recently published a study (A Future That
Works: Automation, Employment and
including 3,000 sensors
Productivity) that showed that 43 per
across the building.
cent of UK jobs were able to be done by robots.
‘This resulted in a “4x” improvement. It was a real
‘The trend to pay attention to here
return on investment as it
is collaborative robots, which work
significantly reduced our
alongside humans to make human
energy consumption – and
jobs easier, safer, more connected and
therefore costs, too,’ she
reliable,’ she explained. ‘The Internet
of Things has the opportunity to
3x: COMPANIES MUST BECOME THREE TIMES MORE EFFICIENT IN ORDER TO MEET CLIMATE CHANGE TARGETS
The opportunity is ripe for the
capability – this is the key issue.
significantly change our world – in a
picking, she added: ‘We live in a world
‘If we can use data as a strategic
where the technology is there to help.
asset and if we – individually – think
How, then, can we address
If you don’t use it, you won’t be able to
about our own behaviours, how we use
the problem of energy efficiency?
achieve anything great. We now all have
energy and how we can simply use less,
Randery said that 82 per cent of
the ability to use data as a strategic
then we can address this problem and
untapped energy efficiency savings
asset to collect, monitor, track, measure
get to the “3x” challenge. Technology
sits in buildings. ‘If we can just address
and – most importantly – act.’
can be really beneficial to humans, but
that, then we’ll already make a huge difference,’ she said.
The technology is there, Randery
we must take advantage of it.’ I JH
continued, but the bottleneck is now
As an example, Randery told how
around businesses’ lack of digital
We live in a world where the technology is there to help. If you don’t use it, you won’t be able to achieve anything great. We now all have the ability to use data as a strategic asset to collect, monitor, track, measure and – most importantly – act
BIOGRAPHY: TANUJA RANDERY Tanuja Randery joined Schneider Electric in 2015 from BT Global Services, where she served as President, Strategy, Marketing & Transformation, responsible for the growth transformation agenda. Prior to BT, she was CEO of MarketPrizm, a global trading infrastructure and market data company specialising in low-latency technology services to capital market firms. Randery also spent 10 years at Colt Group, in both strategy and operations roles – she led the UK and Ireland Enterprise Business, was MD of Benelux and set up Colt’s Global Business division. Randery was also previously Vice President of Strategy at EMC Corp, where she led a number of key M&A initiatives. She started her career in the US with global strategy consulting firm McKinsey, where she spent seven years as a consultant.
- july / august 2017 - 77
HOW THE ELECTIONS WILL SHAPE BREXIT Held the week following the UK general election and a couple of weeks after the French presidential election, the latest Ambassador’s Brief could not have come at a more relevant time
Left: HE Ms Sylvie Bermann, the French Ambassador, delivering her brief to French Chamber members Right: Guests took part in a question-and-answer session following the Ambassador's Brief at the French Residence
hat are the potential
welcoming us,’ Morel said, opening
talks between the UK government
consequences of the
the evening. ‘And thank you for always
and its European counterparts.
elections for Franco-British
sharing with us your very interesting
Add to that the fact that UK general
relations and Brexit? More than 80
insight into current affairs. It is always
election resulted in, effectively, a hung
main representatives from Patron
a privilege for the French Chamber’s
parliament, and the May Government
and Corporate member companies
members to hear your views.’
is having to now negotiate under even
as well as French Chamber Advisory
The Ambassador’s brief did not
more challenging conditions.
Councillors registered to hear French
disappoint: she offered unique, frank
Ambassador HE Ms Sylvie Bermann’s
insight on the results of both elections
welcomed questions from the
latest brief, which was held on 12 June
and their potential impact on the Brexit
floor before welcoming guests to a
at the French Residence.
negotiations. Following her speech,
networking reception, where much
Morel proceeded to ask Ambassador
The event, moderated by Olivier
Ambassador Bermann then
Morel, Partner at Cripps and a Board
Bermann about how – if at all – the
Member of the French Chamber, was
French government’s position on Brexit
discover more about the ‘real’ impact
held under strict Chatham House
has changed under Macron, and what
of the elections – the French Chamber
rules in order to encourage open
the impact could be on business and
would like to thank Ambassador
and frank discussions between
wider Franco-British relations.
Bermann for her time, insight and for
both the Ambassador and, later,
As has been widely publicly
The event was the ideal forum to
hosting the event. Thank you also to
the audience, during the question-and-
reported, Macron has made no secret
Olivier Morel for expertly moderating
of his staunchly pro-European feelings,
the evening and to the attendees for
which could affect the direction of the
their stimulating questions. I JH
‘Thank you to our Ambassador for
78 - info - july / august 2017
September 18.00 - 20.00
RENDEZ-VOUS CHEZ THE WESLEY At The Savannah Restaurant, The Wesley, 81-103 Euston St, Kings Cross, London NW1 2EZ £20+VAT Open to all members Join us at The Wesley’s restaurant, The Savannah, for a taste of fusion cuisine with ethically sourced food in a nature inspired décor. Opened just over a year ago, The Savannah is Euston’s newest ethical and eco-friendly bar & restaurant. For more information, please contact Camille Gorin at: firstname.lastname@example.org or on 0207 092 6644.
September 17.00 - 23.00
DÎNER DES CHEFS AT BELMOND LE MANOIR AUX QUAT’SAISONS At Belmond Le Manoir aux Quat'Saisons, Church Road, Great Milton, Oxford OX44 7PD £120+VAT. Open to all members Champagne partner: Pernod Ricard UK - Wine partner: Crus Classés de Graves Caviar Partner: Caviar Petrossian - Transportation kindly provided by Renault Join us on September 26th to discover Raymond Blanc OBE’s culinary talents and be part of a ”unique dining experience” while networking with business contacts from a wide range of Member Companies. For more information, please contact Anne-Claire Lo Bianco at: email@example.com or on 0207 092 6643.
September 08.00 - 10.00
BREAKFAST WITH FABIENNE VIALA At Bulgari Hotel Guest Speaker: Fabienne Viala, Chairman, Bouygues UK £40+VAT per person, £60+VAT Special price for 2 Open to all members Sponsored by Paul UK After graduating from the ESTP engineering school, Franco-British business leader Fabienne Viala joined the Bouygues Construction Group in 1987. She gained experience in all aspects of site work in the Paris region before becoming head of production in 2001. She was then named Deputy CEO of the management committee of Bouygues Entreprises France-Europe, where she supervised complex projects (Design-Build, PPP, concessions) and was responsible for the delivery of 14 prisons, from the commercial phase to the first years of operations. She transferred to Bouygues Energies & Services in 2012, where she headed the Facilities Management unit in France and Italy, and she was appointed CEO for the Western regions of Bouygues Energies & Services in 2015.
Do not miss your chance to hear about Bouygues Construction’s strategy, and meet with more than 70 high representatives from within the Franco-British Community. For more information, please contact Anne-Claire Lo Bianco at: firstname.lastname@example.org or on 0207 092 6643.
- july / august 2017 - 79
October 18.00 - 20.00
RENDEZ-VOUS CHEZ JOSEPH At Joseph, 90 Marylebone High St, Marylebone, London W1U 4QZ £20+VAT Open to all members
Since the 70s, JOSEPH has been a focus for creativity and inspiration, building an essential framework of wardrobe icons. Join us to discover the house’s deconstructed, personalised and twisted codes in its most recent store in Marylebone while networking with business contacts from a wide range of industry sectors. For more information, please contact Camille Gorin at: email@example.com or on 0207 092 6644.
October 18.00 - 20.00
RENDEZ-VOUS CHEZ PIERRE MARCOLINI At Pierre Marcolini, Marylebone, 37 Marylebone High Street, W1U 4EQ London £20+VAT Open to all members Maison Pierre Marcolini was founded in Brussels in 1995 by Pierre Marcolini, a chocolatier renowned for his expert skill and his passion for creating the world’s best chocolates. Join us for the second edition of this Rendez-vous chez for a taste of Pierre Marcolini’s latest creations while networking with new business contacts. For more information, please contact Camille Gorin at: firstname.lastname@example.org or on 0207 092 6644.
THE FRANCO-BRITISH BUSINESS AWARDS 2017 At The May Fair Hotel, Stratton Street, London W1J 8LT
November 19.00 - 22.30
FRANCO BRITISH BUSINESS AWARDS 2017
Held under the high patronage of both the French Ambassador to the UK and the British Ambassador to France, the FrancoBritish Business Awards acknowledge the accomplishments of French and British companies of all sizes, from start-ups to SMEs and blue-chip companies on both sides of the Channel. For more information, please contact Camille Gorin at: email@example.com or on 0207 092 6644.
FBBA WINNERS 2016: Start-up & SME Award
Theodo Large Corporate Award:
EDF Energy Coup de Cœur:
French Chamber Award:
PwC 80 - info - july / august 2017
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INFO is the official publication of the French Chamber of Great Britain.