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Success Stories
EIC Survive 2024 EIC Survive&&Thrive Thrive 2024
JulyJuly 2024 2024
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Eaton Crouse Hinds Embracing change through consolidation and digitisation Martin Freeman
How is Eaton Crouse Hinds thriving?
mented in a continuous improvement cycle.
After underdoing change on several fronts, Eaton Crouse Hinds is now better able to serve a broader pool of customers operating across a wide variety of energy-related markets. By consolidating 11 businesses, investing in state-of-the-art manufacturing, digital sales channels and onboarding new channel partners, the company is now much better placed to respond to market events and move with the energy transition.
While the pandemic certainly did not help in terms of operational disruption, it did provide a catalyst to drive change faster, especially in the area of digitisation and utilisation of technology within standard business processes.
With economic activity brought to a standstill and travel restrictions preventing people and products from moving from A to B, supply chains around the world were disrupted in unprecedented ways. While Eaton Crouse Hinds was able to keep its factories open, the disruption prompted a discussion around how the company could accelerate its strategy to become more responsive to market change, both from a technological and organisational perspective. The company knew it needed to consolidate and simplify its business to better serve clients – the question was, when and how quickly could this happen? The solution - Indeed, prior to the outbreak of COVID, Eaton Crouse Hinds was already aware of the need to consolidate the 11 businesses operating under its umbrella. Having listened to customers, the leadrership knew it had to find ways to simplify its offering to provide a more streamlined and less disrupted service, all while being able to increase market share. Core functions such as HR, operations and finance were the first to be centralised, with commercial teams now undergoing a similar process. Central to this has been clear communication of a vision for people to rally behind, coupled with the creation of opportunities for employees to enhance their skills and career development in line with the newly shaped business. Feedback loops were established, with changes and adjustments being imple-
Benefits ▸ Turnover going above and beyond pre-pandemic levels. ▸ Average annual growth of 17% recorded between 2020 and 2023.
Key findings
EMEA Commercial Director
The challenge - As a global producer and supplier of products for the energy, industrial, utility, harsh and hazardous industry, among others, like many, Eaton Crouse Hinds faced an enormous amount of disruption during the COVID pandemic.
#transformation (main category) #optimisation, #service & solutions
Online digital sales increased significantly. Here, Eaton Crouse Hinds was able to support that uptick business by ensuring it held the correct inventory profiles to enable quick deliveries, developing digital interfaces and significantly improving its online presence. In the post-pandemic period, much of this digital buying behaviour has remained in place alongside the return of business derived through direct project procurement. The establishment of new channel partners has also been highly successful. Not only are these partnerships opening up new opportunities in different markets, but they are adding incremental and local value to the company’s end customer supply chain.
For industry ▸ To read outside your own discipline is key to achieving success. ▸ Problem solving with a customercentric approach to improve product and services. For government ▸ Simplify policy. Less complexity would increase competition and enhance economics. ▸ Implement cross-party energy strategy that will last for the next 50 years.
Eaton at a glance: Key products and services: power management services.
Alongside this, staff satisfaction levels have increased with employee development perspective. Many colleagues have progressed through the ranks into more senior roles, a higher proportion of which are now being held by females.
Main industries served: ▸ Oil and gas – 71% ▸ Offshore renewable energy – 2% ▸ Hydrogen – 2% ▸ Others (energy) – 2% ▸ Others (non-energy): industrial, commercial and institutional – 23%
From a revenue perspective, the trajectory is also looking promising. Turnover has recovered beyond pre-pandemic levels thanks to an average annual growth of 17% recorded between 2020 and 2023.
Headquarters: Cleveland, US Year established: 1911 Number of employees: 100,000 Revenue: £23.2bn
Now, with a consolidated organisation which can draw on the collective strength provided by its various specialist entities, Eaton Crouse Hinds is much better positioned to move forwards with its vision. Indeed, the company is guided by its commitment to do business ethically, to operate sustainably and to help its customers manage power - both today and well into the future. By capitalising on the global growth trends of electrification and digitalisation, it is accelerating the planet’s transition to renewable energy sources, helping to solve the world’s most urgent power management challenges, and building a more sustainable society for people today and future generations.