Conexus Partner Mike Kelly, CPA (Inactive), recently joined Mark Whitby on The Resilient Recruiter podcast to talk about how Conexus grew into a $65 million Office of the CFO talent firm, and why the way the firm is built matters to the clients and candidates it serves.
In the hour-long conversation, Mike traces his path from Ernst & Young auditor to recruiter, walks through the specialist model behind every Conexus search and interim engagement, and shares how the firm is building leaders who can carry that model into new markets across the country.
Listen on: Apple Podcasts | Spotify | YouTube | Full show notes
Conexus by the Numbers
- $65 million in annual revenue
- 230 CPA and MBA consultants currently on project with clients
- More than 800 consulting projects and 350 searches completed last year
- 85% of the business is project consulting and interim advisory
- 75% of searches are retained or exclusive
- 85% of the candidates Conexus places are CPAs
From Ernst & Young to Building Three Firms
Mike began his career in Ernst & Young's SEC reporting and pre-IPO group, where he found himself drawn to fast-growing, entrepreneurial companies. After busy seasons that included 36 straight weekends at work, he joined Robert Half's Management Resources group, then a new project consulting practice, and found the career he had been looking for. That was 28 years ago. Since then he has grown and exited three businesses, and Conexus is the third.
Specialists at Every Step
A theme that runs through the episode is the "highest and best use" of everyone's time. Conexus maps the client and candidate journey from start to finish, and each person on the team owns a clearly defined part of it:
- Researchers keep the database current and track top finance and accounting talent, while a separate research team builds client and target company lists
- Screeners reach out to candidates and set up introductory meetings
- Recruiters build the relationship and represent each candidate all the way through the offer
- Client executives each cover around 200 companies and stay close to the line managers and decision makers who own the hire
Two people at Conexus work on the database year-round. Mike compares it to painting the Golden Gate Bridge: by the time you reach one end, it is time to start again at the other.
"I want my salespeople and my recruiters spending all day long having real communications, building relationships. They should not be doing data entry."
Mike Kelly, Partner, Conexus
Why Every Candidate Is Prepped Before an Interview
Before a candidate meets with a client, the Conexus client executive on that search sits down with them personally, often for about 30 minutes. They walk through the role, share what earlier interviews revealed about the hiring team, and role-play the questions the candidate is likely to hear. Candidates get an advocate who knows the client well, and clients meet candidates who are prepared to show their best.
"Taking the time to prep a candidate before they go out is everything. It's a quality control."
Mike Kelly, Partner, Conexus
Staying in the Strike Zone
Conexus focuses on the Office of the CFO, and most of the professionals it places are CPAs, with the majority of the rest holding MBAs. Mike explains why the firm turns down work outside that focus, even when it is offered on an exclusive basis, and how specialization builds trust on both sides of the market. In his words, "today's candidate is tomorrow's client."
That focus also shapes how the firm works. Conexus's interim and executive search teams operate as one team, referring clients and candidates to each other so the experience feels seamless. Behind the scenes, every desk tracks a small set of metrics, from how many CPAs it meets each month to how often submitted candidates convert to interviews and placements, and a scoreboard goes out to the whole firm every evening.
"It's so easy to take on work that isn't in your strike zone."
Mike Kelly, Partner, Conexus
Building a Firm That Runs Without Its Founder
Since MidOcean Partners invested in Conexus, the firm has opened offices in New York and Connecticut, Salt Lake City, Chicago, Tampa Bay, and the San Francisco Bay Area. To lead that growth, Mike handed off his own book of business for the first time in 28 years and now spends his time replicating the Conexus model in each new market.
He credits that to the leaders around him. Team leaders coach their own teams each month, share in their teams' results, and can earn equity in the firm, so everyone thinks like an owner. As Mike puts it in the episode, "This business can run without me."
Episode Highlights
- 1:16 From Ernst & Young auditor to recruiter at Robert Half
- 7:40 Why an annual pay review pushed Mike toward a career that rewards results
- 9:24 Job vs. business: mapping every step of the client and candidate journey
- 12:15 Why recruiters should never be doing data entry
- 14:20 The fear that keeps firm owners doing everything themselves
- 16:33 Funding the team before paying yourself
- 19:24 Inside the Conexus model: researchers, screeners, recruiters and client executives
- 31:11 Why every candidate is prepped before an interview
- 35:50 Strike zone discipline and the work Conexus turns down
- 38:25 The metrics every desk runs by
- 48:54 What makes a firm built to last
- 54:49 Handing monthly coaching to team leaders
- 57:14 Giving managers a real stake in the business
Work With Conexus
Whether you need an interim CFO or controller, a project consultant, or a retained search for your next finance leader, the Conexus team is ready to help. Contact us to start the conversation.
