We have a first rate understanding of the issues facing the Business Services and Professional Firms and we have worked with some of the sectors major players such as Warner, Goodman and Street, Citywire and Admiral Insurance to develop their managers to inspire and engage their people to improve the business’ performance and drive competitive advantage.
Whilst the business services and professional firms sector is one sector that is responding well to the upturn, many firms still face challenges, whether it’s pressure to meet ambitious growth targets or finding new and innovative ways to deliver services if they are to meet the changing demands from clients. This sector employs around 5 million people and contributes £170bn GVA to the nation’s economy.
Drivers for change in the sector include:
Global trends are changing the talent landscape at the same time that the global economy regains its confidence and looks towards growth which will increase competition for talent. Having a secure future talent pipeline will be key to the future success of firms in the sector.
As competition increases and market growth slows some traditional business services activities will experience commoditisation. This will require firms to re-focus their value-proposition away from solutions that simply remove cost, towards the improvement of their client's own product offering and supporting them to achieve their strategies.
Corporations continue to rationalise the number of business services providers they use in an effort to streamline procurement, reduce administration costs and benefit from economies of scale. In order to meet their customers' needs for a wide range of services providers will need to utilise more partnerships or joint-ventures.
Some markets, such as the legal market are facing oversupply.Pricing pressures, effective utilisation of fee earners and cost reduction have all been major challenges for a number of years, driven by shrinking markets, and new entrants leading to an oversupply for legal services.
We can develop your managers and staff to deal with these challenges and deliver a fundamental shift in the culture and performance of your business. We have the unique ability to deeply understand your business vision, strategy, and goals and to design development interventions that will deliver significant business benefits. To learn more about our work in this sector and the impact we have had download our Citywire case study. Alternatively see how our other clients have benefited from our support by visiting What Our Clients Say.