„At team level, working remotely kills the creative sap a little,” says Philippe Monnoyeur. Scientists talk about serendipity, this ability to make discoveries in an unexpected way"
LE FIGARO: Since the beginning of the health crisis, what has changed most at Monnoyeur?
Philippe MONNOYEUR: It's in our DNA to be on the ground. In factories, on construction sites and on farms. We distribute, lease and service industrial equipment. We are involved in the energy transition through our energy generation solutions, including in new directions such as hydrogen, and in the digital transformation of construction through our subsidiary Arkance, a partner of Autodesk, which is the industry's most renowned software. All this means supporting the customer as closely as possible. From one day to the next, this range of activities had to submit to health restrictions. It is essential that our customers feel that we are there for them, especially in difficult times. Apart from the construction activity, which was interrupted for a few weeks during the first period of total quarantine, we never stopped, while constantly endeavouring to protect the health of all our employees and collaborators.
Field work leaves no room for teleworking?
Our proximity to production plants and construction sites means travelling, and this affects two-thirds of our teams. The crisis came after we made significant investments in digital transformation. Remote working could be implemented quickly. And that's fortunate, I would say, as, following our recent acquisitions, we now cover 18 countries. Making an effective change requires the right tools, which we have.
Believe in the hybrid model - work in the office and work from home?
We ratified a teleworking agreement earlier this year. Our decentralised structure, with more than 80 branches, provides flexibility for teleworking for two days a week. We are not dogmatic on this: teleworking will be all the more effective if it favours a harmonious work-life balance. Which is not systematic. At team level, remote working kills the creative sap a bit. Scientists talk about serendipity, the ability to make unexpected discoveries. When people are together, it manifests itself much more.
Before Covid, you had strong growth. Circumstances forced you to put on the brakes?
On the contrary, we have managed to keep up the pace, both in terms of internal and external growth. Over the last 18 months, we have made no fewer than 12 acquisitions. Most recently, we have expanded in Finland and Turkey. Of course, the pandemic is strongly affecting the speed of integration: as long as we can't talk about anything other than work over lunch, the bonds have not yet cemented. To cope with this, it is essential to constantly explain who we are and how we work. Our teams' high level of autonomy helps us to adapt to this new working environment. From the start, we knew that our credo didn't come from the company: the truth lies with the customers.
How to organise remote recruitment?
We maintain significant flows, with over 300 people last year. We have the right tools to identify the right profiles, but this is not enough. Given that we need people in jobs that are highly sought after in the market, we need to offer real career prospects. We need to give people the possibility to protect their future, with real development opportunities. Retaining someone means helping and encouraging them to broaden their range of competences.
Studies show high levels of stress among managers of medium-sized companies. Confirm this?
Regardless of the company structure, fulfilling some management responsibilities means stress. If we don't want to deal with it, we have to give up management. The anxiety climate that prevails at the moment shows how much companies need managers. They are the main vectors of trust, and it is obvious that trust is not ordained, but disseminated and enforced. Communication and training are the tools that underpin this trust.
You haven't always worked in the family business.…
This is rather a good thing. Slightly exaggerating, it allows us to do stupid things elsewhere. I spent nearly fifteen years in consultancy and then in a bank. And I was offered a short assignment with the Monnoyeur Group to see if it suited me. I haven't left since. This family inheritance is not without importance: my great-grandfather founded this company in 1906. Of course, it has grown in size over the last 120 years or so. But the fourth generation that I represent has the responsibility of carrying on this adventure.
In a world that is globalising a little every day, the aim is to keep your family shareholding?
To continue to perform, that is our goal. Every day, I enjoy the good fortune of having harmonious relations with the Board of Directors, which is made up of 13 people, 7 of whom are family members and therefore shareholders. This fluid steering is indispensable to move forward. Within the Executive Committee, our aim is complementarity: the binomial I form with my cousin, Benjamin de Castelnau, Managing Director of our subsidiary Aprolis, a specialist in maintenance equipment, is proof of this. Our approach is simple in this respect: every member of the family has to prove his or her worth, at least for a few years, by improving his or her skills. A family group is a guarantee of stability, durability, a willingness to invest in the future and a constant focus on the interests of the employees.
No-one ever wanted to buy the company…
We combine two qualities - long-term vision and agility - that allow us to progress without external support. I come back to closeness to our customers: for them, this is an essential quality.
The Monnoyeur Group is the exclusive distributor in France of Caterpillar, the world leader in construction equipment. But the family-run business (6,500 employees, turnover of €1.9bn in 2020) also works with other brands such as John Deere and Mitsubishi. The group's president and CEO, Philippe Monnoyeur, is the fourth generation of the founding family.
This article appeared in Le Figaro in France on Monday 26 April 2021.
