Formula Recruitment celebrates six years in business as Founder Jack Bainger and Director Rory Leadsom reflect on the journey from a windowless shoebox office to dual-location operations in London and Cornwall.
Take a trip down memory lane with our CEO, Jack & Director, Rory
Last month, Formula Recruitment celebrated six years of recruiting exceptional people. Six years of building client relationships that proudly separate Formula from the crowd. Six years of hiring and developing the teams from Cornwall and London, creating a culture that everyone can thrive from.
To mark this milestone, our Founder, Jack Bainger and Director, Rory Leadsom, took a trip down memory lane, reviewing their highlights and biggest moments from the last six years.
Starting up…
2017 was the year. After 8 years of learning recruitment, Jack established the business. Taking inspiration from his grandfather, a business owner that Jack grew up shadowing, his DNA had always been entrepreneurial. Six months later, in a shoebox office with no windows in London, fuelled on bulk-bought coffee sachets and recently joined by Rory, the goal was delivery at all costs.
“Our first placement as a company, was a DevOps Engineer for a Berlin-based dating app”
remembers Rory. The team took risks, like flying to Stockholm to secure a client needing 150 roles filled.
“This was a valuable lesson. Proving that big businesses bought into our recruitment strategy”
admits Jack. In that first year, they secured a major .com scaling their tech team — a relationship still holding true today.
Location, location, location…
The business strategy was to simultaneously grow two offices: Central London and Cornwall. In 2018, Jack moved to St. Ives, leaving Rory to head up the growing London office. Shortly after, the business began scaling teams in both locations, including Marcus, their longest standing Consultant.
“I would get the 07:00am flight from Newquay, landing in Gatwick at 07:45am”
Jack recalls, demonstrating commitment to bridging both locations.
Despite offering the rare opportunity to work in both locations, scaling wasn’t always easy.
“It’s hard to build a solid culture with just a handful of people doing hard core recruitment”
cites Rory. The competitive London recruitment market presented additional challenges.
“We learned a lot from this phase, about being leaders and employers. We’re not going to be a good fit for everyone”
says Jack, reflecting on personnel transitions during growth phases.
People are at the heart of Formula…
They are the product, the client, and the company. By 2020, some Formula Consultants were taking home 6-figure salaries, something that both Rory and Jack have immense respect and pride for.
“Our business is people, and that includes the people we hire, train, invest in and promote through the company”
states Rory. The company ensured at least one year’s worth of salaries were locked away.
“Then the pandemic happened. A completely unprecedented situation, but we were safe”
he adds. They didn’t need to furlough anyone, and top customers stuck by them during challenging times.
“The reason we started the company was because we felt we could do recruitment the right way”
says Jack. Despite the pandemic, Formula came out of 2021 in a strong position, having added their in-house recruitment service and sister company, Team Cadence.
The “Jack and Rory Show”…
For the first 5 years, Jack and Rory were deeply involved in day-to-day operations. However, as Formula entered its 6th year, they faced an important transformation.
“We came to a point when we had to make a decision. We realised it was time for us to step back into more strategical roles”
says Rory.
“It’s not easy letting go!”
Jack laughs.
“Nothing about starting your first business is easy, and we learn as we grow”
In late 2022, both teams moved into brand new offices. The London team now reside in the Victoria WeWork, while the new Cornwall office was built bespoke, just outside St. Ives.
What’s next?
“Optimisation!” They agree. As the 2022/23 financial year ends, Formula moves into a new year of optimisation — settling into new processes, team structures, and delivering exceptional service to customers. Existing and future leaders are participating in the Seventh-Wave Leadership Programme while Consultants are being empowered to manage and grow their own desks.