Management flexibilty is the key to Ireland’s future success, says Verify Partners

Media release

Management flexibilty is the key to Ireland’s future success, says Verify Partners

The Verify Partners

3^rd June, 2010; Dublin, Ireland: Verify Partners, a new interim management and consulting company was formally launched today at the Irish Management Institute in Sandyford Dublin.  Verify Partners, provide Irish companies with access to experienced independent and flexible senior business executives across a broad range of skill including HR, ICT, finance, taxation, business change, marketing, and international business development.

Verify Partners is a new sister company to Verify Recruitment, the innovative IT recruitment company founded by Cathal Grogan. His view is that “we need to up our game if Ireland is going to remain a leader in attracting foreign direct investment. The key is providing a highly experienced and flexible local management support structure that allows the foreign company to rapidly establish their operations, overcome inherent cultural differences and to quickly reap the proven benefits of basing their business in Ireland”.

Bernadette Kiely, is a key member of Verify Partners, and was instrumental in establishing Motorola’s initial operations in Ireland, she said: “overseas companies need more than just access to low corporation tax and subsidies. This was fine when these incentives were enough to close the deal. However, the world has changed. In an increasingly competitive environment, they are now looking at how they can create profitable businesses that will achieve a rapid and sustained return on their investment in Ireland”.

Verify Partners believe that future employment of senior managers will be based on flexible engagements. Pensions, careers paths, share options, benefits packages etc may become a thing of the past for many senior managers in the private sector. Executives will need to constantly up skill, remain very flexible and fleet of foot, be prepared to go where the work is. Careers will consist of many short term assignments rather than a slow transition up the ranks of one company.

“Immediate access to flexible top class management talent at a local level is very important”, said Ronan Farren, a Verify Partner and a Silicon Valley veteran. “The US has it right. We also need to prove that Ireland has a similar culture of flexibility and of high performance at a management level.  Being able to tap such talent not only will speed up the insertion of a Foreign Direct Investment project into Ireland by many months, but will also enable the company to better compete and win business in-theatre, replicating its “home” operations, thus generating quicker returns on investment”.

This is not necessarily a bad thing – this level of flexibility and a lack of dependence on the corporate HQ organisation will certainly help to regain Ireland’s competitiveness and can lead to interesting and continuously challenging careers for the individuals involved. It cam also great boost Ireland’s GDP, a recent study by McKinsey (the management consultants) and the London School of Economics was recently presented to the IMI, which found that improving management practice in Irish companies could add 1% or over €2 billion to Irish GDP.

For more details visit www.verifypartners.com or contact business@verifypartners.com

For more information please contact Simon Palmer of Republic on: +353 (0) 1210 3520 or email: simon@republicpr.ie.

Notes to Editors

Verify Recruitment opened in Dublin in May 2009 and is led by Cathal Grogan. Cathal has 20 years experience in the IT industry, and has held senior positions in Program & Project Management, Product Management, Management Consulting, and Change Management in local and multi-national organisations, within Enterprise Software, Financial Services, Contact Centre and Automotive industries – www.verifyrecruitment.com

A list of biographies of key members of Verify Partners is attached.

Areas of Special Interest

FDI: We are in discussion with inward investment agencies in Ireland about helping them to attract and work with FDI clients from the emerging BRIC markets (namely Brazil, Russia, India and China) through the provision of a ‘swat team’ of senior resources from Verify Partners who can help to fast track the FDI company into Ireland.

Corporate Governance and Risk Management: A number of Verify Partners are experts in the area of Corporate Governance and Risk management. These skill sets are in particular demand as Irish companies learn the lessons from recent history. We can help to put the right processes and procedures in place, however, good corporate governance must come from the top and permeate every aspect of a company’s operations.

Banking: Until now, Irish banks have focused management attention on the very large loans going into NAMA. The next issue will be how to deal with the huge number of loans between €1-5 million that are going to have to be managed with great care. Verify Partners have the asset management and business experience to help manage these assets to ensure they can remain performing thus preventing foreclosure.

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