The Future of the Firm

Conversations with experts that explore the big trends shaping the professional services industry.

The future of the professional services industry has never been so opaque. As we hurtle along an uncertain trajectory, services from audit to consulting will all need to be radically re-imagined. On this podcast, we explore the changing face of the industry, and what that means for firms that want to compete—and win—in the modern knowledge economy.

The Future of the Firm
The Future of the Firm. 15

Your COVID-19 Questions Answered

We take a break from our regularly scheduled programming to bring you a special live Q&A episode, in which we answer the burning questions on the minds of consulting leaders. This is a recording of an online panel discussion we recently hosted, for which we invited firms to submit questions on the theme of how COVID-19 has changed professional services. In this episode, we go through those questions and explore how different facets of the industry have been impacted by the pandemic.

Fiona Czerniawska; Margaret Cameron-Waller; Alison Huntington; and Fergus Blair.

The Future of the Firm. 14

How will COVID-19 impact the delivery of consulting projects?

COVID-19 has rewritten the rulebook for consulting projects; firms have had to adapt, virtually overnight, to a world in which the vast majority of their work must be done remotely. In this episode of the podcast, we take a closer look at the challenges and opportunities that firms are facing right now, and we explore the potential longer-term implications of the current crisis on project delivery.

Fiona Czerniawska; Edward Edgcumbe; and Fergus Blair.

The Future of the Firm. 13

What will consulting’s leaders of the future look like?

The modern consulting partnership looks very different from those of ten or even five years ago. Not only have more firms recognised the importance of diversity–both in terms of demographics and in terms of professional background and thinking style–at the partner level, but the skills required to be a successful leader in the consulting industry have changed dramatically. In this episode, we’re joined by Ben Richardson, of executive search and talent advisory firm Sheffield Haworth, to discuss the ongoing evolution of the consulting partnership.

Fiona Czerniawska; Edward Haigh; Fergus Blair; and Ben Richardson.

The Future of the Firm. 12

What makes for great thought leadership?

Most consulting firms care a great deal about the quality of the thought leadership they put out into the market; but even so, there are still plenty of sub-par pieces that get published. In this episode, we discuss the impact that good thought leadership can have on a firm’s reputation, what makes some pieces stand out from the crowd, and what firms can do if they want to ensure consistency and quality in their thought leadership output.

Fiona Czerniawska; Alison Huntington; and Fergus Blair.

The Future of the Firm. 11

How can you win the war for talent?

Top graduates entering the talent market today have more options open to them than ever before. At the same time, career paths for consultants are more fluid than they’ve ever been, with mid-career professionals happy to move around between firms, go in and out of industry, and spend time as freelancers. All of this means that attracting and retaining top talent is becoming increasingly challenging for many firms; and on this podcast, we explore some of the different ways firms are trying to meet that challenge.

Fiona Czerniawska; Edward Haigh; Fergus Blair; and Richard Longstreet.

The Future of the Firm. 10

What impact will coronavirus have on professional services?

It’s clear right now that we’re in unprecedented times for the global economy. Across the world, professional services firms are trying to understand what impact COVID-19 will have on their own ability to continue operating and on their demand pipeline. In this episode, we explore the potential impact of the pandemic on the professional services sector, and talk about what we’ll be doing to support listeners of our podcast through this challenging period.

Fiona Czerniawska; and Fergus Blair.

The Future of the Firm. 09

What even is consulting?

Consulting is, to put it bluntly, not an easy industry to navigate. The dizzying array of firms out there – all offering jargon-laden, overlapping bundles of services – make it hard for even seasoned industry-watchers to accurately describe the landscape of the sector. But what if there was a better way to talk about consulting services?

Fiona Czerniawska; Edward Haigh; Edward Edgcumbe; and Fergus Blair.

The Future of the Firm. 08

Has anyone cracked account management?

A recurring theme of our podcast has been the way in which professional services firms are becoming increasingly complex and difficult to navigate. But as a consequence of that shift, the role of the account manager has become more important than ever. In this episode, we explore how firms are reinventing the way they manage client relationships, and what that means for you.

Our Emerging Trends report on The Future of Account Management is now available.

Edward Haigh; Alison Huntington; and Fergus Blair.

The Future of the Firm. 07

Is there a “best” brand strategy?

Professional services firms live and die by the strength of their brand. But there is precious little consensus about how to develop and protect it; different companies have taken very different approaches to brand management. In this podcast, we explore the pros and cons of different brand strategies.

Edward Haigh; Alison Huntington and Fergus Blair.

The Future of the Firm. 06

Should you be offering your clients discounts?

The prevalence of discounting is one of the consulting industry’s biggest open secrets. For many firms, the rate card is more of a useful fiction than anything else. Should firms be wary of the long-term impact of discounting too much? Or is it all part of playing the game?

Fiona Czerniawska; Edward Haigh; and Fergus Blair.

The Future of the Firm. 05

What would a discretionary audit look like?

Nobody likes getting audited. But does that have to be the case? By asking what a discretionary audit would look like, we can better understand the opportunities for auditors to use new technology to make their services more attractive to clients.

Fiona Czerniawska; Edward Haigh; and Fergus Blair.

The Future of the Firm. 04

How can you measure the value of a consultant?

Consulting is an industry with a perennial value problem; because the work that consultants do can often be relatively abstract and strategic, it can be difficult to prove the value created by a given project. Is there anything that firms can do to help make their unique value-add more concrete in the eyes of clients?

Fiona Czerniawska; Edward Haigh; and Fergus Blair.

The Future of the Firm. 03

What if consultants gave up flying?

The stereotype of consultants is that they spend all their time jet-setting around the world; George Clooney even made a film about it. But in an age when all of us are having to think more about our environmental footprint, is it time for consultants to become a little more grounded?

Fiona Czerniawska; Edward Haigh; and Fergus Blair.

The Future of the Firm. 02

What is the future of managed services?

The managed services model has historically been associated more with technology outsourcing than with high complexity advisory services. But in recent years, an increasing number of consulting firms have appropriated this model and begun offering continuous support to their clients in critical business areas. In this episode, we examine this trend, and ask whether it represents the inevitable future of management consulting.

Fiona Czerniawska; Edward Haigh; and Fergus Blair.

The Future of the Firm. 01

Is it time to retire the rate card?

The trusty time and materials pricing model may have served consulting firms well for decades, but is it on its last legs? In this podcast, we look at the growing appetite for linking project fees directly to outcomes, and ask whether this really is the future of the industry.

Fiona Czerniawska; Edward Haigh; and Fergus Blair.