Doubling Turnover with KEEGOR Group
Who is the Keegor Group?
The Keegor Group (Pty) Ltd originated from Leonard Light Industries (Pty) Ltd, established in 1959 by Keith Gordon Leonard. Over 57 years, it has evolved into a group of companies focused on melting and processing precious metals in refineries and laboratories. The Keegor Group expanded its services to include the foundry and metallurgical industries through recent acquisitions. They have four structures: Keegor Group, Keegor South Africa, Keegor Leonard Light Industries, and Keegor Meltech. The Keegor brand is renowned globally in the precious metals sector, serving clients in various countries. Keegor South Africa caters to local clients, while Leonard Light Industries serves export clients. Keegor Meltech is a trading arm dedicated to the foundry industry, distributing crucibles and foundry products.
The Challenge
Keegor Group faced a challenging goal of doubling their group turnover by June 30, 2020, based on year-end figures in June 2016. This goal was particularly difficult due to unfavorable economic conditions in South Africa, such as high unemployment and low economic growth. The mining sector, a key market for Keegor, was performing poorly. Additionally, global resource prices for precious metals were constrained.
Solution & Results
Keegor Group implemented LMI/SMI programs into their business practices and achieved significant results. The company embraced the Total Leader® and Total Person® concepts and practices, rolling out a total of 93 programs over three years. Incorporating these concepts led to several tangible benefits, including improved goal setting and management, a substantial increase in turnover compared to GDP growth, and above-average profit before tax. Keegor managed to achieve impressive results. In the first full year, they increased turnover by 24.08%, followed by a growth of 14.89% in the second year. Overall, they achieved a compounded growth rate of 42.56%.
The incorporation of LMI/SMI programs also had a positive impact on employee engagement, commitment, and retention. Strategies were implemented to promote inclusivity within the diverse workforce, such as delivering communications in multiple languages and providing translators at company meetings. The improved work ethic and attitude across the board resulted in the company obtaining ISO certification with no audit findings, surpassing their own expectations.
What the Team Had to Say
“Our team is encouraged and developed ‘to be the best version of themselves that they can possibly be,’ and this reflects in everything we do — as both individuals and collectively as the Keegor Family, in our private lives as well as in business.”
Bruce Hansmeyer
Managing Director