Futurestep, a Korn/Ferry Company, with Canadian offices in Toronto, Calgary, Montréal and Vancouver, is the industry leader in strategic talent acquisition. Its’ services includes Strategic Recruitment Process Outsourcing, Project-Based Recruitment, Mid-Level Recruitment, Interim Professionals and Consulting Services. With a solid record of success in securing top talent around the world, Futurestep provides the experience and global reach that organizations need to identify, attract and retain the people who drive business success.
Simply stated, the main objective was to create a unique market position for Futurestep while leveraging the efficiencies of the parent company. Growing at an explosive rate, Futurestep recognized an immediate need to expand its operations, but wanted to expand with a solid plan in place. So the business challenge was “how do we share internal IT, expand operations yet sustain an autonomous market position?” Proximity was also an issue as operations were side by side so creating a differentiated platform seemed daunting. In a perfect setting, Futurestep would have designed its own “branded” look and feel but with a keen eye on cost efficiencies, collectively management was determined to focus on operations versus aesthetics.
Savills Response & Solution
Planning for growth is an essential part of a company’s success. Savills initiated its FLOW™ process coupled with a detailed Needs Analysis to confirm Futurestep’s space requirements. The key question was “how does Futurestep’s need to grow and what are the 3-5 year expansion needs?’ As a place to start, Savills approached Korn/Ferry’s landlord to determine what opportunities were available in the building to consider lower moving costs but realized sourcing the surrounding market for additional opportunities was critical. The answer was a phased in strategy for expansion, this would allow for short term expansion needs but long term flexibility.
1. Secure expansion space within the building, co-terminus with their existing lease. Savills negotiated extremely favourable terms. This allowed Futurestep to share internal IT and support systems. Further, Korn/Ferry retained Savills Design and Project Management Team to design the premises and oversee the construction, furniture, and technology implementation. Given the long term view, capital investment into the physical real estate (i.e., leasehold improvements) were limited to client areas with the balance of the premises designed with systems furniture which could be relocated to a new location if required.
2. Based on stringent market analysis by Savills, it was determined that further expansion within the existing building was not possible. Our solution? Get a new location in close proximity-which Savills did. Our strategy was anchored to the inherent strategy of Futurestep’s need to “maintain close physical proximity to Korn/Ferry while creating our own identity.” The art of relocation is finding a space that supports the business plan and brand strategy, that is the cornerstone of what Savills strives for. We believe we succeeded.
Dovetailing on our success, Korn/Ferry once again utilized the expertise of Savills and Project Management Team to design the premises and oversee the construction, furniture, and technology implementation.