naar At my going away party, that same customer gave me a card. Every one of our jobs internally is posted for people to apply., We only have two requirements. There was a huge push over the years to harmonize the brand. It'll be good for my mental side of the business and my development side of the business capabilities. The Myers file. Rentokil North America announced today it is again expanding its footprint with two strategic acquisitions. All I do is work in this zip code. You ignored your wife's polite no every time you asked her to marry you. I'm happy you stopped in to chat with us., John Myers: Thank you for that. Digital sourcing is moving this way. Paul Giannamore: Where did you get your start, though? This may even have been before your time. This process is automatic. What you heard is what I believe and it's not well-scripted but it usually works as a result. If that was our example, we would then be looking at metrics to measure whether we're having an influence on those metrics., Where are we in core tiles against pay, the zip codes, and the markets that we're working against? The reason why our deals typically work out, Paul, is they fit the way we're thinking about things. We're backing into the spot? I said, Safety first. What can I tell you?. Finally, the one that we all know but we sometimes forget is 1% improvement in customer retention is 1% organic growth. I was smart enough to go down on the shop floor early on and talk to the frontline shift supervisors who had been doing this job for twenty years and did know and say, I'm here not to get in your way. Sometimes he doesn't take my call anymore on the first ring because he's got grandchildren and other stuff to do., Paul Giannamore: When I think about Rentokil North America, in general, it is an extremely important part of Rentokil Initial, the entire organization. para informarnos de que tienes problemas. Its a little bit different and 100% commercial. John Myers is a Managing Director, North America of Rentokil Initial PLC. It's a British firm and the Redcoats are coming. You go into the Seattle market, and you buy a $2 million player, a $4 million player, and a $5 million player and you jam it all together, it makes sense to have a consistent brand there. He said, Rentokil North America is core to our business. There are nine specialists or technicians. If you need more lookups, subscriptions start at $39 USD/month. Back in the day, it was largely Alex Nye at Rentokil North America running the acquisition program. Vic Hammel knew more about this business than anywhere close that I knew but he also has strong opinions. On the factory floor, I would walk the floor and I'd say, Bob, have you been on your break? He'd say no and I'd say, Its time to take your break. Out there in the field, our folks are pretty dedicated to the task at hand. Anything that you heard on the street or anything that you can talk about? One of the things that we talk about a lot is hiring, training, and development of people., If you get those three things right, in our business, not the factory floor where you have a widget maker and the guy that has the best widget maker wins but the company where it's about the people that affect your mechanism for the service delivery. I've always thought the potential likelihood of something catastrophic happening is on the road and not necessarily Mrs. Jones backyard. That's first and foremost. Perry Tindall used to work for us. He's got over twenty years of route-based service business. Paul Giannamore: Those are stories for other episodes.. As a result, I'm usually in a pretty good spot., The last thing I would tell you is I have changed my mind more often in meetings. It's an important factor. John Myers: Long time ago, we started talking about this concept of success versus excellence. We'll then come back in October and do these last two pieces and button it up in January.. envie um e-mail para We drove 150 million miles in 2020. You and I talked about this over dinner where I said, I can't believe you've been around as long as you have, John. That means something. I talked about hiring, training, and development before but I've made lots and lots of hiring mistakes but it's never been because they couldn't do the job. Rentokil does a great job from a DD perspective to mitigate those types of things and they do raise them. John opens up about fear of failure, a trait he shares with Rentokil Initial CEO Andy Ransom. Once we've agreed on the strategy, let's then implement the strategy., What he won't allow is me to say, Yeah, while the whole time thinking, Yeah, I'm never doing that. By the way, I don't do that either because I don't have time for that debate, only to be chasing people to see if they're doing what we said we would do. The best word that comes out of that is you developing humility.. Paul Giannamore: John, I've got a couple of thoughts in regard to the question that Patrick raised about some things that differentiate Rentokil. to let us know you're having trouble. We all learned this lesson. It was a combination of good strategy with average to below-average execution., When we bought Allgood, there was an overlap of leadership teams. Let's say that your goal was to create a good life for your family, grow an asset, and build a great place to work. You brought up MCS, VDCI, VDA, and Solitude. I decided I was going to raise some money and buy Rentokil North America., I reached out to Alan Brown and he was kind enough to amuse himself by having a cup of coffee with me. Thanks again. The thought of being able to come in the early days with Rentokil and take something that was roughly $200 million and do something with it was appealing. Rentokil North America Interviews Experience Positive 57% Negative 29% Neutral 14% Getting an Interview Applied online 41% Employee Referral 18% Staffing Agency 18% Difficulty 2.9 Average Hard Average Easy Jul 5, 2022 Director, Client Delivery Interview Anonymous Employee in United States No Offer Neutral Experience Average Interview Interview He sent me to your boss, Mr. Andy Ransom. John has a diverse business background, with extensive sales, marketing and business strategy experience. What widgets was this company making? They were competing with Crown Cork & Seal. Pre-COVID, I used to spend a lot of time in the field. Paul Giannamore: My experience coming out of Bulge Bracket Investment Banking, prior to getting into pest control, I was dealing with extremely large transactions. There are a lot of people at your organization that I care deeply for on a personal level. You and I talked about the Brandon Hier episode, which we wanted to do. As you get bigger and bigger, you get some knucklehead moves so then you've got to, first of all, tighten how you hire, train, and develop those people. Aydanos a proteger Glassdoor verificando que eres una persona real. Wir entschuldigen uns fr die Umstnde. excuses voor het ongemak. For more than twelve years, John Myers, Rentokil North America CEO, has scaled a regional pest control business into a national empire. If we bought a company in Dallas and was 100% commercial, it would be transitioned probably 12 to 18 months to Presto-X. At that time, he shared the same title that you had at Cintas. I've known Jim forever. Eventually, you have to sell it through the organization so that the strategy becomes the organization's strategy rather than mine., John Myers: They said, It seems like you're a pretty decent sales guy in Ohio. It's because they weren't a culture fit.. Paul Giannamore: When I think about what Givilim was talking about, Certus has bought a lot of small businesses. I don't know if you and I ever talked about this. When the company that I was working for was bought by someone else, I had to go, This is not like a career here, right?, Paul Giannamore: I don't plan to be on a plant forever. That could be a real challenge. I have a lot of respect for David Fisher. om ons te informeren over dit probleem. By the way, great companies ask the first ones. I was writing the brochure. He's a guy that's been around for over 35 years. What problem are we trying to solve here? We've morphed into opinions, beliefs, and stuff. That was a bad mistake on my part. I didn't act on it well. The other thing that I will say is I've never had an indemnification claim with Rentokil. They're a little bit behind because when they were at, XYZ location, it took longer. Patrick, I'm commandeering a lot of questions. John Myers: Thanks for asking that question. When I came into pest control it was new for me. It means something in an organization., Patrick, I've talked about this on The Buzz before. We all need a strong Terminix. That's kind of a Rockstar., Paul Giannamore: He's been around for a while. They are focused on having everyone there in that business versus Rentokil, Anticimex, and others that have kind of been a lot more flexible. Paul Giannamore: Let me ask you, John. He was bright and driven with a record of taking a company from X to a public company. When I talk to kids that are looking for jobs at a college, I say, Seriously, these are the two things. John Myers: You're hitting both points, by the way. Rentokil North America managing director John Myers picked this environment to sell 250,000 shares in the company, for 1.2m. To this day, Vic remains close to your organization. I didn't mean it to come off in any way.. You're genuine and candid. It doesn't work. We're going to look at their data and see, Did they solve a problem? Pest Control is local. Not the John Myers you were looking for? Paul Giannamore: When I think through it, between MCS, VDA, and all the other deals I've ever done, I spent hundreds and millions of dollars of transactions with Rentokil over the years. What makes Rentokil attractive compared to some of the others out there? The most profitable organic growth you can have is when you've already paid the commission, the specialists already know where it is, and the equipment's already installed. I thought we had good specialists. I went to San Antonio to be a plant manager. Brett took over. Please help us protect Glassdoor by verifying that you're a I didnt know it was a scar that picks on daily. Every once in a while, I have to remind the West Coast guy, Sorry, it's an 8:00 AM East Coast call. If you don't want it to be 5:00 in the morning, move to Kansas City or something., Paul Giannamore: You're always getting up at 4:00 and 5:00 to get on those UK calls., Patrick Baldwin: I did sidetrack you on the HR. It infuriates me because we already owned the customer. I made sales calls five times a year. This episode has been CO produced, edited, and mixed by Dylan seals of HDAudioPost.com. What I found was we were limiting our search capabilities to those that were in that geography., My head of HR lives in DC. If it was residential, you'd probably take three years to transition it., There are always exceptions to the rule. The reason I bring that up is when there's an opportunity that fits your career interests and you say yes, it's going to make you a better businessman and maybe even a better person because you have to adapt yourself to new surroundings. John Myers: I hate to do that to him because it probably allows someone to figure out his age., Paul Giannamore: You take one look at him and youll know he's old., John Myers: Let's say he was with the company for 35 years. My gut tells me Rentokil is somewhat of a hybrid. Older customers are more inclined to send emails about changing credit cards so on and so forth.. You grew up in Connecticut. Se continui a visualizzare I got to understand what they think about our organization, what they think about our competitors, what they think about our people. What was that like? There's a separation that has to occur. Lamentamos pelo inconveniente. Amongst all the other stuff that we could be working on, why are we doing it now? Paul Giannamore: John Myers is a great guy. Rentokil Initial Plc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Brits, you guys come over and learn the right way to do things., John Myers: By personality, Andy realizes he can't dictate tactical execution of the strategy. You were like, I don't know if I want to get into this whole vector municipal thing. If I remember, the guys from across the Atlantic thought, Maybe this is the time to do this., John Myers: It was that and one of our top guys, a guy named Dave Fisher. If we start at the beginning, this would be the longest buzz on record. The core of your business is creating value for the customer unless you get out there and talk to the customer. As I got experienced, I was more confident in my ability to recognize that you should have that criteria and cadence for solving problems. That was me and not you, John. Would you agree with me that the big three are essentially behind a lot of the smaller players in mosquito control services, at least on the residential side in North America? Are they wearing the right masks? Paul Giannamore: That makes perfect sense. John did on uncovering things during due diligence. My boss has been involved for twelve years. Onze It offers a range of pest control services from rodents to flying and crawling insects, as well as to other forms of wildlife management for commercial and residential customers. John Myers: One of the things is that we are dedicated to doing it the right way, the legal way. They went wrong when someone was at 9%. Patrick Baldwin: I've heard that the Rentokil M&A team has come to take a liking to the Mex. It was almost like what Nucor is to the steel industry. I grew up in that era where you had hallway conversations. Most of the time, in my experience, they're inadvertent and not intentional. Let's say 1% of your population at any one time decides to do something goofy. We talk a lot about the methodology for being successful. For so long, they were doing $25 million in revenue year in and year out in North America so they buy Ehrlich, Western, and the list goes on. Patrick, I saw you taking notes over there. This sounds negative but hopefully, it's not. When you bring that much diversity of thought into your organization, you're going to get better ideas., Patrick, the tricky part is it would be much more efficient for me to go, Let me tell you, we're $1.5 billion. Excellence describes your methods for achieving those results. What are some things that they should be doing proactively to keep their employees safe?. The best way I've found to take away some of the anxiety is to get close enough to it that you can say, When I said that, they went boom, boom, boom. They gave me a blank stare and I go, That was one of those things that sounded good in the boardroom but it ain't working.. When you're in a leadership role, you're always trying to read the room, understand whether the strategy matches up with what you think it does. That's a great success story. For the most part, it was him doing everything from the front-end valuation submitting the approval memo, the Investment Committee to going out conducting DD and executing the deal. You're not going to get flipped upside down routinely about how we've changed all our strategies. This episode wouldn't be complete without first discussing route density, its benefits, and the 'best new customer'. The lawn care companies have beaten us to the punch and some regional medium to large regional players have beaten us to the punch and we're not getting our fair share. Take care, everybody.. I don't know if this is still the case but there was at least one year when Rollins was Ford's largest customer. verdade. I went for the money and the title. One of the things that we say and one of our values is we value long-lasting relationships with our colleagues and customers. After San Antonio, I went to St. Louis and I was the national account guy selling beer cans to Anheuser-Busch, my only account. The second thing is because North America is important to the global business, we do get our fair share of ex-pats to come over for 2 to 3 years to learn another part of the business, another way of doing business, and then they go back. John, after the Allgood transaction, I remember in the Southeast, there was a lot of smoke and hot air blown around the Southeast about how Rentokil did the Allgood deal and axed a lot of heads. I would be the guy picking out the truck that we would use and the colors and all those types of things.. That's the first two., The second thing is these brands that we're talking about have been in the marketplace for more than 80 years. Paul Giannamore: John, how old were you when you took over the manufacturing facility? Paul Giannamore: First off, get the relevant data and understand the cause and effect behind it. Mosquitoes are a form of pest control. Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com, Patrick Baldwin: Paul, I appreciate you getting John Myers on The Buzz. If you're on the north side of Atlanta, you have to get down to the southeast side of Atlanta. Let's talk this through. To me, that's an important thing., A couple of the other things is when I think about the capabilities of Rentokil North America's M&A team, it was rough starting it. He was generous with his time. How the heck did you get to where you are today running up a North American business pushing $1.5 billion in revenue?. There are good people there. All of a sudden, they're going to turn this thing into some European nightmare. I do think about wage and hour a fair amount because it's hard to be in compliance on wage and hour in a distributed model sometimes. When they do, you'll see, Paul, we've stretched far on some deals. Its another one of those, This is going to be a cool venture. You don't just say yes to that one as you might imagine, Paul. It's 3 or 4 of us making you a commodity mostly selling to the largest bottlers in the world, a commodity with strong buying power. If you could zip code yourself, these guys only work these zip codes and never leave it, that's good., The second thing is our specialists make more money if they do more revenue in the same amount of time. When I ride with one of our specialists, immediately on the first 30 minutes, How's it going? Good. How long have you had this truck? A year. One-word answers. John Myers is a Managing Director, North America of Rentokil Initial PLC. Working with Paul, I have to bring my A-game every day or else, I don't know what people would do. Most of us know that people don't quit for other jobs for a small amount of money. Can you send Jim out? I was thinking we needed 1-800 numbers so we could track the calls and all those change things. Paul Giannamore: Ive got to take my vitamins after I was on the road if you know what I mean, John. You find out the things that you said you were going to do. It was the execution of the strategy. What problem am I trying to solve? Starting in around 2015 and accelerating into 2017 and 2018, they've decided to buy standalone brands, Gregory, McLeod, for example, and these types of businesses. As a result, I did well there. How will we know that we're doing the right thing? Shifting away from Rentokil specifically but in some of the takeaways that I heard John said was,1% in customer retention is 1% in organic growth. I have not personally thought about customer retention that way. As a serial acquirer, John goes into sales mode to describe their differentiated capabilities, including a very deliberate and choreographed due diligence process. John describes the nuanced difference between success and excellence as his company has grown. As soon as you've answered the why, then the KPIs become evident about what you should track. They've got a lot of questions., Older customers that you've been servicing for years its like, Patricks guys are coming out. Paul Giannamore: You leave Cintas. Its in case there's some altercation. John Myers: Youre a big liar. Education: B.S. I appreciate you coming out and talking to us. Trust your instincts. I remember learning that lesson early on in the factory setting where safety is a big deal. We also tied the customers' phone numbers, emails, texts, and all that stuff to the phone system which allowed us to track how many incoming calls for each unique, discrete customer and the duration of those calls., The question was, Where does this pest control company spend most of its service time, as far as calling. It turned out that approximately 70% to 80% of phone time with the office was spent on the phone with new customers because, with new customers, there's a lot they don't understand. Which one would you like?, Paul Giannamore: I know which one you took. Paul Giannamore: I do stuff all over the place. We had one of our best guys move from Richmond, Virginia to West Texas. Everyone always talks about it. John opens up about fear of failure, a trait he shares with Rentokil Initial CEO Andy Ransom. How to reach: Rentokil North America, (610) 372-9700 or www.rentokil.com. Scores indicate decile rank relative to index or region. John Myers: I'm going to talk for ourselves. John describes the nuanced difference between success and excellence as his company has grown. When I deal with our clients that go from 10 employees to 100, the increase in complexity in an organization between 10 employees and 100 is 60-fold, 50-fold. Its leaving them as the local brand that they're known for in the market. It was the financial crisis and I thought, Ive got some mezz debt lined up, some sub-debt, some preferred equity, and common equity. We weren't quite sure about that but we were sure about the people in there. John describes the nuanced difference between success and excellence as his company has grown. Some other day.. He learned a lot at Cintas. I came back from the UK as an ex-pat. They've scaled a $1.5 billion pest control company based on that 149 number. I was interested in what the bottom-line impact is. Patrick Baldwin: Can you explain that? No, not so much. With regard to Rentokil North America, I don't have to worry about deal execution risk. I came home and said, I want to work for these guys. These folks get stuff done. In the south, there's the polite no. You can do a little bit on price increases. Mike Rogers spoke about it. Si vous continuez voir ce Afterward, they don't know what's behind them. Listening to him talk about Cintas reminded me of Jarl talking about Securitas and Loomis, the certain aspects of their model that he was able to bring to Rentokil North America. Paul Giannamore: Patrick, you had to bring that out. There are OSHA requirements in addition to the fact that someone could get hurt and you could never walk by a safety issue. Honest as the day is long. These are businesses that have been around for a long time and have a lot of brand equity in the market and are of a size. These CEOs who run these billion-dollar organizations do get out in the field and do ride alongs. Not only do you folks publish a lot but you have a lot of presentations. She's young. He said, Let's assume she's graduating from college right now. In your long history of deals, you maybe have had 1 out of 150-plus deals. He's pragmatic enough to know that what he didn't want to do is blow up the business. When I look at companies Rentokil and Anticimex, I start to think about the fact that both of them provide a lot of upward mobility for sellers people., Patrick Baldwin: That makes sense. We should be taking care of that better. I joked in the interview that the last time I saw him he and I were talking about the fact that I was surprised that he's still around because it's not uncommon for chief executives to head off to other businesses.. I worry about driving safety because car accidents kill. There is a little bit of a benefit that I can say about the fact I've been there twelve years. Patrick Baldwin: Got you. The question is, how do you grow profitably? As clunky as this might have been, the people that took a large amount of money from the sale of their business don't have to work for me if they could find another place to work. If you get hiring, training, and development right, you're going to be amazingly successful. We got our two training directors together to train newly hired specialists and then ongoing training. The answer is they think differently but the business decision-making processes, and I know you do a fair amount of international work, Paul, are similar. The average Rentokil Initial salary ranges from approximately $25,000 per year for Horticulturist to $100,001 per year for Senior Financial Analyst. If you watch FedEx and UPS. John Myers's Estimated Salary Range. He wanted to make incremental improvements in the base business. Mike Tindall still works for us. Although, youre pushing $1.5 billion. I said, It's black. With facts, they've allowed me to change my mind. That's pest control and that's what we're growing, particularly in North America. You build this knowledge of a service history with that customer., One of the things that we didn't know, and we didn't know until we tested it was I had the hypothesis that newer customers are more of a pain in the butt than older customers.
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