RSM Ireland is a full-service accountancy and business advisory firm that combines Irish roots with global ambition.
It was founded in 1987 by managing partner John Glennon and Liam Ryan, both of whom left ‘Big Four’ accountancy firms.
Three decades later the firm has become a top 10 rival to their former employers, and an employer of choice for ambitious young graduates who value its strong work life balance ethic.
The firm’s first office was in Dun Laoghaire, and Glennon well recalls the lunch times spent walking the pier, planning business development strategies. Ireland was a different world in the 1980s. One of the biggest issues facing them was “trying to get a phone line”, recalls Glennon.
Harnessing energy from the sun in Ireland makes more than just environmental sense
When it comes to sustainability, smart companies will not take the foot off the pedal
Why recognition of prior learning works for business
Businesses need to transform their finance functions in order to compete and add strategic value
“Back then most of our work was focused on helping companies that were under-capitalised. It was a completely different environment, but we were always growth oriented, right from the start.”
In the late 1990s they moved to their current offices, in a converted church in Ranelagh, and joined an international network of accountants.
“Up until the recession we were a firm of accountants. Today, as well as training accountants, we take in economists, lawyers, HR people, arts, and sciences graduates”
“At the time that network saw us as an ‘offshore’ firm for the UK but the experience introduced us to a wider audience for the first time and our global mindset developed during that period,” says Glennon.
The peer review element of an international network helped them introduce big business systems and structures. As the firm grew it opened regional offices in Birr, Co. Offaly and Portlaoise, Co. Laois.
In 2008 it merged with Baker Tilly, with Baker Tilly Ryan Glennon becoming a top 10 accountancy firm for the first time. That year marked the beginning of the financial crisis. “It was a troubled time and Baker Tilly had particular expertise in corporate restructuring and recovery,” he explains.
The recession that followed marked a turning point for the firm.
“We started to travel to the US to find clients,” says Glennon. “We used to travel to IDA offices all over the US and not much happened for the first three or four years but slowly we built up a reputation among foreign direct investment companies coming to Ireland.”
Today a large proportion of its client base are technology companies, typically US headquartered, with EMEA operations here.
Full-service
As that business grew the company transitioned to a full-service business advisory.
“Up until the recession we were a firm of accountants. We’d go into a client and say, ‘Here’s what you need to do financially’, and walk away. But people drive corporate performance, so we built up the human resources and people side of our business too. Today, as well as training accountants, we take in economists, lawyers, HR people, arts and sciences graduates,” he says.
Of the firm’s most recent graduate intake, only 14 of 20 are accountants.
Broadening its team has paid dividends for clients. A portion of its work now is around workplace investigations, for example. “When ‘red issues’ arise, typically you’ll find that just 10 per cent of the problem is personalities, 90 per cent of the problem is because roles are not properly defined, which is why we train lawyers and human resources professionals too,” he explains.
In 2016 an opportunity arose to join the RSM network, a leading global network of audit, tax and consulting firms focused on the middle market. It has over 51,000 staff in 860 offices across 120 countries, helping to meet the needs of clients who are trading and expanding internationally.
“Since the pandemic the firm has adopted a remote-first policy. Before Covid seven of its 150 people were based outside of Dublin. Today 50 are, including four of its 15 partners”
“It was a big decision for us but, of all my strategic career decisions, joining RSM was the best I’ve ever made,” says Glennon.
Staff at RSM Ireland can leverage the global RSM network for training and professional development purposes. “It’s a great network to be able to tap into. Our global referrals are now multiples of what they were. Our clients are more diverse and the graduates we take in are working on more interesting projects,” he explains.
RSM has two international development programmes, The Academy and Forward Sprint. It is currently working on enabling the UN’s Women Empowerment principles, to address issues such as work life balance and the gender pay gap.
Glennon is committed to increasing the pipeline of women in the business here, including partners.
Remote first
Since the pandemic the firm has adopted a remote-first policy, with staff typically coming in just one day a week. “There is no compulsion to go to the office and in line with that we have reduced our office in Ranelagh and turned what’s left into a more social space,” he explains.
It means staff have more options open to them about where they live, helping to alleviate concerns about housing and accommodation. Before Covid seven of its 150 people were based outside of Dublin. Today 50 are, including four of its 15 partners.
Working from home has increased productivity, enabling the business to grow since lockdown. Both private and its public sector clients have embraced its new way of working, he says.
The firm is more proactive now about organising social events, he says, pointing to a recent treasure hunt around Dublin, followed by a night out, by way of example.
The firm, which is on a growth trajectory, has a strategy of “growing its own” leaders.
It has appointed eight new partners since lockdown, six of whom came through its system. The firm plans to appoint a further five partners over the next 18 months, up to three of whom will be internal candidates. A good work life balance for staff is a key strategic goal. “It’s okay if your child has a play, for example, because we know the work will get done at a time that suits you better. We take a lean approach and have a very low tolerance for long, drawn out processes anyway,” he says.
“One of the things we talked about before we downsized our offices, which was a big step for us, is that culture does not exist within four walls. We are a firm that runs on mutual accountability. That is, we hold each other accountable. It’s not a hierarchical system, it’s an empowerment system, and sometimes empowerment is a better glue.”
Find out more about RSM Ireland’s full range of services at https://www.rsm.global/ireland/