Raheem Akingbolu writes on how KloverHarris is pushing the borders of distinctiveness in its services in human capital consultancy
Human capital consulting is very crucial to a company’s growth trajectory and it is a widely accepted part of its structure to enable it function adequately with improved productivity. It is a process in which a consultant works with organisations to create greater economic value in the business and also provides outsourcing services to effectively manage their investments.
Though interchangeably used as human resources consulting, the services enable the consultant to employ analytics, research, and other insights into the industry to change programmes, develop systems, integrate diversity, engage employees, and deal with other vital issues for the development of any organisation. Furthermore, it leverages technology to streamline its functions, implement best practices, and enhance employee engagement to reduce turnover.
The process is very advantageous to companies who seek the expertise of this particular service as it helps in team-building, and improves employee engagement and satisfaction. Human capital consultants help in retaining employees and also in recruiting good prospects, enhancing a company’s return on investment as well as its culture.
Also, another aspect of human capital consultancy is its outsourced expertise with the provision of cutting-edge solutions for clients’ efficiency.
Indeed, the services have gained tremendous popularity because it is very beneficial in delegating business processes to the right organisations, and globally, the private and public sector resort to outsourcing a part of their processes for optimum productivity.
Consequently, it offers businesses access to cutting-edge technology that the outsourcing organisation does not have exposure to, hence the market size of outsourced services is expanding, and was valued at $92.5 billion in 2019, with businesses to spend over $700 billion annually by the end of 2022. This growing outsourcing industry includes IT (Information Technology), healthcare, accounting, and other sectors, with IT outsourcing to hit $519 billion in 2023.
There are 950 human resource consultancies globally, constituting $18.4 billion market in 2017, with Deloitte, Ernst & Young, KPMG, PwC Advisory, Accenture, McKinsey & Company, Boston Consulting Group, Bain & Company, as some of the big players in the industry, among others.
It is worthy of mention that there are avalanche of consulting companies in this sector providing diverse services, nonetheless, a remarkable impact has been made by KloverHarris, a Nigerian firm that has been renowned within that professional space, and also making a difference with its ground-breaking solutions in Learning and Development, Human Resource Outsourcing, Business Consulting, and Information Technology.
Proficiency
The indigenous company has demonstrated its proficiency in three core areas which include accounting and tax advisory, learning and development as well as recruitment services, with a sense of professionalism to boost clients’ productivity. It has carved a niche for itself through its services and has ensured that the existing delivery processes of its clients align with its strategic objectives.
With a diverse client base that cuts across all sectors of the economy, KloverHarris is renowned for an impeccable delivery track record with a unique approach to ensure clients attain maximum gains based on their distinctiveness.
On its Accounting and Tax Advisory services, Managing Partner of KloverHarris, Ms. Bukola Ariyibi, said the company had observed how tax compliance has become a major challenge for many businesses as they see taxation as a minefield, consequently creating difficulties with their remittances and obligations to the appropriate government agencies and the company is turning this burden around for its clients with the use of modern technology, into a strategic enabler for their businesses.
“Our tax and advisory experts not only work with our clients to remit their taxes as and when due but also view taxation as a strategic opportunity to provide measurable insights,” she affirmed.
Given that, the company can guide its clients on how to take advantage of the incentives that apply for government schemes like the Free Trade Zones, and mediate on their behalf. It interprets the processes in very seamless ways and helps them to meet their obligations, and this has positioned KloverHarris as a trusted business partner because of the level of honesty and high sense of commitment being displayed.
Bookkeeping
The company posits that accurate bookkeeping should be the first thing to take care of while ensuring precision in accounting and tax transactions, and also knowing the taxes that apply to your line of business, as well as keeping to deadlines. Remitting before deadlines will save you a lot of stress and penalties and can be quite cumbersome for business owners that do not have competent hands, hence clients in diverse sectors rely on KloverHarris because of its high level of proficiency.
As one of the pillars that supports a great business is its people, the foremost company’s Learning and Development initiatives are tailored to suit clients’ objectives. It focuses on classroom training and e-learning and how artificial intelligence is being optimised in imparting knowledge. The company has identified this trend and has also positioned itself to meet the demands of its clients as they relate to e-learning with bespoke solutions that foster proper understanding.
“In class, we start with a pre-course assessment and close with a post-course assessment to measure learning outcomes,” Ariyibi explained.
KloverHarris’ learning and development solutions are designed to transform businesses to achieve their strategic objectives, in line with international standards, with well-skilled facilitators.
The IT-focused company handles all recruitment and executive placement needs for its clients; ranging from junior-level, mid-level, and C-suite executives. It starts by getting a full brief from clients, and understanding in detail the candidates they would like to hire.
Recruitment Services
In recruitment services, KloverHarris is distinct in its ability to spot the talent of the best fit. It always tells the difference between a curriculum vitae (CV) and an interviewee. “It is like night and day. Beyond CVs, we help our clients spot candidates who are equipped with the knowledge to accelerate their businesses. We also believe that our talents of best fit should thrive in their career paths and it is a win-win situation.”
With success factors such as clients’ satisfaction, quick turn-around time, and qualified candidates, identifying technical competence is usually the easiest on the recruitment ladder for KloverHarris. “Some behavioural traits may not be obvious during interviews and so to help identify some salient traits we ensure that candidates take behavioural/psychometric tests that unfold qualities that may have been masked during interviews. Once we can match technical skills with behavioural skills and align them with the company’s culture we can almost determine if a prospective candidate will be a good fit,” the company’s Managing Partner explained.
Challenges
Addressing some of the challenges in the recruitment service, Bukola pointed out Nigeria’s poor educational sector as one of the challenges in the recruitment service, as most Nigerian graduates are not employable. Another challenge she noted in recruitment service is the brain-drain where very brilliant professionals in various fields of endeavour travel out of the country for greener pastures, thereby leaving the nation with a deficiency in skilled personnel, a situation that has affected recruitment adversely.
Interestingly, the company dwells on one of its recent success stories in the oil and gas industry. The problem statement was that the business was on the brink of collapse due to liquidity issues and huge tax liabilities.
Ariyibi’s narrative threw more light on it as she revealed that the client could no longer cover its operating expenses as revenue wasn’t coming in. It had lots of receivables yet clients were not paying.
She explained: You know once a business gets to that point and the decision makers don’t see light at the end of the tunnel, they usually just pack things up. We started by reviewing their contract agreements. We wanted to ensure that no retention monies were being held up by contract employers. Interestingly, this very first step made a significant impact. We realised how huge sums had been withheld by their clients longer than necessary. We contacted the companies that retained these funds and immediately started the process of getting them in. In no time there was cash to work with. We went on to review processed invoices to ascertain if there were any tax credit notes due to our client. Again, we found sizable chunks that we recovered which helped in reducing their liabilities. This was particularly emotional for me as I experienced something that resulted in a comeback from the brink. Now for the clients, to say they were elated will be an understatement.
