–––– OPERATING MODEL Future-proofing Board and Executive practices
Knight Group is a privately held Account and Financial Advisory firm, historically delivering through a Partnership model, serving Perth and WA businesses and families for over 50 years.
Brief/ProblemGenerational change, synergies of practice branding and changes to client demands led the Board to ask whether the company, including its Board, had the right composition structure and accountability models to serve the future needs of the business.
The Hyfen ApproachInitially engaged to review the Board and Executive, Hyfen undertook a full cultural review of the organisation, providing insight to the Board on several areas of opportunity that would set Knight up for long term success, or conversely, hold it back. After adopting all of Hyfen’s recommendations, Hyfen was invited to support a full remuneration structure review, and partner with the Chair on Board renewal.
ResultKnight has a blueprint for how to set itself up for the next 10 years, taking full advantage of its multi-service offer, separating the duties and obligations of a Board from that of management, and delivering a people-focussed future that allows investment of accountability to be distributed throughout the organisation and rewarded fairly in market.
“Hyfen doesn’t shy away from hard conversations. We asked Hyfen to review our Board and Executive structure, realign our remuneration framework, and help us reset our future strategy. As a successful professional services business that’s been around for 50 years, changing our business to be ready for the future means overcoming our own inertia. Kirstin persisted when the going got tough, guiding our Board and CEO through some of the most critical decisions we’ve made in the last 10 years.”
Sandro Di Lollo, Chair Knight Group