Contents
Copyright 2011 Dan Erling. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data:
ISBN 978-0-470-87898-9 (cloth)
ISBN 978-0-470-93970-3 (ebk)
ISBN 978-0-470-93971-0 (ebk)
ISBN 978-1-118-01461-5 (ebk)
To my dad and business partner Bert Erling, who taught me how to make lemonade.
PREFACE
The Awakening
A $150 million public company had just moved from the West Coast to Atlanta. Like many technology companies in 2001, their business situation had changed dramatically. In the heyday of the dot-com explosion, their stock traded at $125 per-share; now it was trading at $0.12. At least they werent out of business. In fact, a nifty piece of technology gave them great hope.
Those who saw the potential in this company included the new chief financial officer (CFO)a brilliant professional with lots of energy, street smarts, and an uncanny knack for helping those around him reach beyond their capabilities. In addition to being technically adept in all aspects of finance, the CFO had an uncommon combination of humor and humility, which helped him gain the trust and respect of his team. The chief executive officer (CEO) took notice, giving the CFO the responsibility of, first, keeping the financial ship from sinking, and second, getting the ship repaired and back on course.
The difficulties of the post-9/11 economy and the dot-com bust were further exacerbated by the move from the West Coast to Atlanta. Bad timing, indeed. A few key employees had relocated with the company, but the majority were new. Old and new alike were quickly becoming demoralized. An organization that was already spiraling downward was further damaged by a rushed and erratic hiring process.
The new CFO had a monumental task ahead of him as he took the reins. Last year, his company was the darling of the investment world; now, it was on the verge of dying completely. The staff he inherited had been hastily cobbled together rather than carefully selected. The accounting department was missing quarterly deadlines, and the Atlanta business newspaper was spreading bad PR across the city. Word on the street was negativetop talent had no interest in joining a company in such disarray.
Fast forward to the present: this company is a darling of the investment world, with analysts bragging about the rebound of a resilient company. The corporate culture is one of accomplishment and success, and the accounting department hasnt missed a deadline since the new CFO took the stage. The company recently went through a successful merger, purchasing a competitor to augment their service line.
What happened to transport this company from dog to darling? The answer is simplethe CFO put the right people into the right jobs. How he did it was astoundingly complicated and difficult to execute.
Serving as an executive recruiter, I had the honor of serving this great business leader as he hired his team. In terms of my career, the timing could not have been better. I was experienced enough to provide value through my recruiting energies, but this also marked my first experience in exclusively helping to create an entire department. The metamorphosis under this exceptional leader was awe inspiring.
To say I was extremely proud to be part of this hiring initiative would be an understatement, which is why I was even prouder to receive the following letter from that CFO (which I include here in its entirety):
As Chief Financial Officer, I was given six months to correct a financial organization that was a perceived weakness with the Company by all who were familiar with the Company. As such, I assessed the situation and noted several weaknesses in the staffing and the structure. I then decided to call Dan Erling to discuss my challenges and findings.
Dan came over to my Company and he listened and he observed. He understood my challenges. So I decided to hire him as a Recruiterbringing me accounting and finance professionals. Most recruiters would have left my office and sent me some rsums. But not Dan Erling and his team at Accountants One. They went much further to ensure my success.
They got to know me. They talked to people I had worked with previously. They learned my strengths as well as my weaknesses. They did all of this so that they could find the best peoplepeople to make me successful.
Over the next three weeks the Accountants One team only sent me a small number of rsums. I was confused, as most recruiters would always send me roughly twenty rsums per position with the hope that two or three could be interviewed. I asked why Accountants One was not following that traditional process. They told me that they only send me people who will help me succeed.
I interviewed the candidates they sent. Sure enough, they were correct. I received candidates who wanted to work for someone like me, in the industry I am in, and who needed my type of leadership for their own success. We were quickly able to hire and fill our positions.
Since that time, my organization has evolved into one of the most efficient and reliable organizations in the Company. In fact, we have done so well that we have been given the IT and the purchasing groups to manage as well. During all of this time, Dan Erling contacted my new employees and me. He checks in. He wants to make sure that everything is going as planned. He is always ready to help on any issues, and he does not do this for another fee. He only does this so his customers are satisfied.