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Survive and Thrive V Success stories
Samuel Knight International Riding the 2020 rollercoaster How is Samuel Knight International thriving? Little did Samuel Knight International realise how important scaling up in the US in 2019 would prove to be in light of 2020’s events. Having refinanced the business in 2018, it looked like years of hard work may have been about to come to an abrupt and devastating end when COVID-19 struck, until a major breakthrough arrived from across the Atlantic.
The challenge Headline after headline throughout the course of 2020 has, rightly, shone a light on the devastating impact COVID-19 has had on employment across the world. As lockdowns and travel restrictions put the brakes on economic activity, entire industries were put and remain on hold, and the inevitable consequences have, unfortunately, borne out. Businesses have been forced to make cuts and in many cases close their doors, resulting in major upticks in unemployment and contractions in job openings – a recruitment firm’s worst nightmare. Relatively little attention has actually been paid to the grave impact this has had on recruiters. For Samuel Knight International (SKI), which specialises in managerial direct hire solutions within the infrastructure and energy sectors, the pandemic created something of a perfect storm. To add further angst to the unfortunate situation, CEO Steve Rawlingson had just started to bear fruit from a refinancing exercise carried out in 2018, when he raised £6 million by selling 15% of the firm to an institutional investor. A war chest to fund future growth, a tangible asset in the form of
a new office – decked out with a £1.5 million makeover – was officially moved into at the start of 2020. When COVID-19 arrived, Rawlingson understandably feared the worst.
The solution The short-term plan was simply about ensuring survival. All non-critical costs were removed, and headcount was reduced during what became the first period in the firm’s seven-year history where it wasn’t looking to scale up. With clients themselves pursuing cost efficiencies, and travel bans presenting further barriers to recruiting processes, SKI was forced to think on its feet. Rawlingson was determined to stand side by side with clients and provide support where needed – it was a case of being there for them in the hope a corner would soon be turned. That corner arrived thanks to an
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unlikely white knight – US President Donald Trump. Following two months of industrial shutdown across large swathes of the country, the President declared US energy sector workers as exempt. It was the news SKI was desperately waiting for, the company having only established itself in the market in August 2019, going fully live as recently January 2020 with new locally-based leader Sam Forest in place. SKI had decided to set up in the US thanks to one long-term client which had asked for help in filling a senior VP of operations and construction position. The candidate was placed within six weeks, leading to more work. Rawlingson was also excited about the American renewables boom, something he was seeking to exploit in the years ahead – COVID-19, however, dramatically brought this forward.