Author: Renée Taylor & Julie Scardamaglia
Published: 28 January 2025
The year’s off to a good start and everyone is doing their plans for 2025. It’s all going according to plan. Or is it?
This is an important activity for all businesses, but crucial for professional services firms because the nature of their structure means they need to work harder towards a cohesive outcome.
That’s harsh, yes. But true. Some partners in professional services firms feel they are running their own business within a business. This can be a strength when it comes to motivation, but a weakness when it comes to setting and achieving firm-wide goals or strengthening a firmwide brand.
And if the strategic planning process is left to individuals, it can become a tick box exercise in which well-intended plans that weren’t fulfilled last year are simply re-entered this year, as yet more wishful thinking.
Both scenarios bring issues. Who is validating the plans? Has any research been done into the market or client perceptions to guide them, or are they fuelled by assumptions and internal opinion? Do the plans for each silo work holistically, or do they fight for resources? Are last year’s unfulfilled plans still valid? What prevented their success?
And are the plans integrated across the firm? For example, if you want to introduce a new service and extra staff are required, is that reflected in the recruitment plan? Or if a new player is coming into your market, is this a driver in the plans for marketing, client management, communications, and HR, to make sure your client and staff relationships are protected?
Planning is often a partner-led exercise but to be successful it needs input from senior leadership in practice management. Whilst all firms would benefit from it, not all firms can justify this level of resource.
How to gain those resources without committing to a high-level permanent hire? The concept of fractional leadership enables short term advice or a longer-term retainer arrangement that delivers ongoing advice as part of your firm’s team.
Rather than a consultant who comes in, delivers a report and leaves, a fractional leader is like an expert team member who is there when needed, helps leadership create the plan, helps the team implement it and keeps an eye on progress to keep things on track. They get to know the firm, its people, its needs and aspirations, without the need for a permanent appointment.
It’s a flexible and cost-effective way not just to bring in an objective expert perspective and new skills, but to share those skills with your own people and – where required – help change culture or ways of working. External advisors can be more effective in making tough recommendations as they are less caught up in internal issues.
Part of the team, but not actually in it. There when you need them and not a cost when you don’t. It’s the best of both worlds. And just imagine what could happen if your plans produced the desired results!
Author: Renée Taylor & Julie Scardamaglia
Published: 28 January 2025
The year’s off to a good start and everyone is doing their plans for 2025. It’s all going according to plan. Or is it?
This is an important activity for all businesses, but crucial for professional services firms because the nature of their structure means they need to work harder towards a cohesive outcome.
That’s harsh, yes. But true. Some partners in professional services firms feel they are running their own business within a business. This can be a strength when it comes to motivation, but a weakness when it comes to setting and achieving firm-wide goals or strengthening a firmwide brand.
And if the strategic planning process is left to individuals, it can become a tick box exercise in which well-intended plans that weren’t fulfilled last year are simply re-entered this year, as yet more wishful thinking.
Both scenarios bring issues. Who is validating the plans? Has any research been done into the market or client perceptions to guide them, or are they fuelled by assumptions and internal opinion?
Do the plans for each silo work holistically, or do they fight for resources? Are last year’s unfulfilled plans still valid? What prevented their success?
And are the plans integrated across the firm? For example, if you want to introduce a new service and extra staff are required, is that reflected in the recruitment plan? Or if a new player is coming into your market, is this a driver in the plans for marketing, client management, communications, and HR, to make sure your client and staff relationships are protected?
Planning is often a partner-led exercise but to be successful it needs input from senior leadership in practice management. Whilst all firms would benefit from it, not all firms can justify this level of resource.
How to gain those resources without committing to a high-level permanent hire? The concept of fractional leadership enables short term advice or a longer-term retainer arrangement that delivers ongoing advice as part of your firm’s team.
Rather than a consultant who comes in, delivers a report and leaves, a fractional leader is like an expert team member who is there when needed, helps leadership create the plan, helps the team implement it and keeps an eye on progress to keep things on track. They get to know the firm, its people, its needs and aspirations, without the need for a permanent appointment.
It’s a flexible and cost-effective way not just to bring in an objective expert perspective and new skills, but to share those skills with your own people and – where required – help change culture or ways of working. External advisors can be more effective in making tough recommendations as they are less caught up in internal issues.
Part of the team, but not actually in it. There when you need them and not a cost when you don’t. It’s the best of both worlds. And just imagine what could happen if your plans produced the desired results!
