Lesley Uren, Global CEO of Consulting for Korn Ferry, caught up with Emma Carroll, Source's Head of Content, on the latest episode of The Future of the Firm podcast to discuss where the hot spots and challenges in human capital consulting are today, and where clients' needs are set to shift in this space.

Lesley shares her insight on the following matters and more:

• Volatility in the market for human capital consulting is being driven by large macro factors that are impacting clients' appetite to invest. This uncertainty is likely to persist, and consulting firms need to be able to pivot quickly to respond to clients' changing business issues.

• CEOs are facing a big challenge around maintaining business performance as they transform their organisations. AI is one of the big triggers here, as leaders start to rethink their business models, but there are other drivers too, including cost pressures.

• Data, including the use of data to create insights, is set to be the biggest change in human capital consulting. We discuss the power of unlocking client data and combining that with a firm's data to reveal hidden information about talent and drive better business performance.

• The big questions from clients around AI include: How can we redesign our organisation? How will work be different? What kind of skills will we need? Where will we find those skills at scale? How can we galvanise our people behind this change? How will softer skills ensure this transition is successful?

• The political temperature around DEI is impacting the type of support clients need in this area. We discuss what is changing and what is staying the same.

• Firms will need to think differently about demonstrating value to clients. It's about more than processing and sythesising data now: It's about proving impact.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Sarah Ricketts, SVP for Procurement at Rolls-Royce, about transforming procurement with data, culture, and tech.

Michael McMahon, Professor of Economics at University of Oxford, and Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast to debate the potential impact of President Trump's policies on professional services via the four global megatrends of deglobalisation, decarbonisation, demographics, and digitalisation.

Michael and Fiona shared their insights on the following matters and more:

• The new US government's protectionist policies are the latest iteration of a global move towards deglobalisation. While clients may turn to consultants to help navigate these changes, the inflationary impact (of tariffs, etc.) may lead to tighter purse strings and decreased consulting demand long term.

• Trump has made his stance on climate change and decarbonisation very clear. But firms should not be packing away their ESG services—the world could look very different at the end of Trump's presidency.

• The new US government's plans to restrict immigration, paired with other demographic changes, will lead to skills shortages in the labour market. This may affect the services clients are looking for—for instance, there may be an opportunity for firms to offer more staff augmentation services to fill this gap.

• While the EU is bringing in regulations to encourage ethical AI use, the US wants to keep restrictions to a minimum. The region is therefore likely to see a further boom in digitalisation and tech growth, and firms can expect a boost in tech consulting work as a result.

• Consulting leaders should be looking to the capital markets to assess the impacts of Trump's policies—this is how he will be measuring success. Firms should also keep an eye on client confidence levels and consumer behaviour patterns to respond to any early trends.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork about navigating growth and change.

Source's CEO, Fiona Czerniawska, and Director of Market Trends, Catherine Anderson, caught up with Emma Carroll, Head of Content, on the latest episode of The Future of the Firm to discuss trends and opportunities for consulting firms in 2025.

Fiona and Catherine share their insights on the following matters and more:

• They predict increased demand for technology, risk, and HR & change work—although this may come from different areas of the business to where you might expect.

• Clients may initially be interested in AI for specific point solutions, but these will open their eyes to the wider possibilities of the technology. Firms should therefore be quick to jump on these early windows of opportunity.

• The end of last year saw client sentiment shift towards growth after a long period of caution and cost cutting. We discuss why this is the case and how firms can best support clients with their ambitions.

• Clients are looking for firms that understand them and their industry but can also bring consulting expertise that offers them a new perspective. They don't want to be given teams they have to train themselves or firms that offer a cookie-cutter approach.

• Fifty-eight percent of clients expect fee rates to decline, but this could be a case of wishful thinking. We also discuss how clients are responding to the idea of outcomes-based pricing.

• Fiona and Catherine discuss their predictions for consulting in ten years' time, including a shift from pure advisory to more delivery-focused work and an evolution of traditional consulting firms into technology firms.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork, about navigating growth and change.

Wavestone's Neil Sharp, Head of Proposition and Go to Market, and Uta Niendorf, ExCom Member and Partner for Digital Customer in Germany, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast.

Uta and Neil shared their insights on the following matters and more:

• Data collection is central to producing seamlessly integrated touchpoints and creating a frictionless omnichannel experience.

• Businesses should not just focus on aspects that deliver immediate revenues like sales and marketing, but also on after-sales and service—and crucially on the customer's "moment of truth". We discuss why.

• In the current fast-changing business landscape it is important to have an energetic, agile business model that allows for trial and error in a controlled way. We explore what this looks like.

• Empathy is at the heart of customer services, and while AI that delivers convincing and genuine empathy remains yet to be seen, emotional AI could be the next big thing.

• Professional services firms are increasingly being asked to use AI to perform labour-intensive jobs that would traditionally have been carried out by junior consultants.

• While technological advancements are rife in the consulting world, it ultimately remains a people business: Nurturing relationships will remain key to success.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork, about navigating growth and change.

Ryan Piper, Global CEO at Morison Global, and Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast.

Ryan and Fiona shared their insights on the following matters and more:

• The impact of PE funding on the use of technology in audit firms, in particular looking at how AI can make an impact.

• How the time horizons of PE deals have shifted to become more long term as a consequence of market volatility, and whether this shows any signs of changing.

• The commoditisation of audit services, and how this leads to a greater emphasis on customer experience to differentiate firms.

• Consolidation in the audit industry, and how firms globally are achieving growth and scale through mergers & acquisitions.

• Practical advice for audit firms, including exploring funding options and understanding market positioning.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork, about navigating growth and change.

David Blowers, Co-President of the Financial Advisory Practice at Kroll, and Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast.

David and Fiona shared their insights on the following matters and more:

• While deals tend to drop off during more turbulent times, it all comes down the quality of the asset. If corporates are laser focused on a really good asset, it will get done despite market conditions—and this is something that will persist.

• David and Fiona share their views on the performance of the deals market in the last 18 months, including drivers and predictions.

• While AI is the technology everyone is talking about, it is a proxy for overall efficiency gains. Looking beyond just AI to focus on the technology that is the right fit for the client will yield the best results in the long term.

• The professional services market is bifurcating into two streams, with commoditised work in one direction and innovation in another. Likewise, half of the market is striving to be more technology-led, while the other half is focusing more on people.

• The importance of using a period of crisis to your advantage, for instance taking the opportunity to pull back on hiring, invest, and evolve to be ready for future opportunities.

• The big mistakes that firms could make, including trying to approach clients with a one-size-fits-all solution rather than listening to their needs and talking about the issues that resonate.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork, about navigating growth and change.

Alison Grigg and Kerry Grigg, Managing Partners at Multiple Group, and Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast.

Alison, Kerry, and Fiona shared their insights on the following matters and more:

• The dangers of social washing and how demographic change is driving increased accountability, as the younger generations expect businesses to deliver on the ESG promises they're making.

• The mistakes firms could be making, such as assuming that good leadership happens overnight and not doing enough work to embed social value throughout all areas of the business.

• The importance of assessing learning agility during recruitment and in performance reviews, to both foster an adaptable workplace and to give your employees the tools to carry them through life.

• The four generational "tribes" and how they approach the workplace, and every facet of their lives, differently.

• Practical takeaways for firms to implement, such as focusing on communication and getting to know your team.

• The extent to which consulting firms should consider and be held accountable for the intended and unintended human consequences of the changes they implement in a business.

• The importance of bringing not just a financial and business impact lens to big decisions, for instance headcount reductions, but also considering the intended and unintended social impact risks that might occur as a consequence.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Sam Samaratunga, Global Head of Risk Services at PwC, about the future of the risk services market.

Sam Samaratunga, Global Head of Risk Services at PwC, and Fiona Czerniawska, CEO of Source, caught up with Emma Carroll, Head of Content at Source, on the latest episode of our The Future of the Firm podcast.

Sam and Fiona shared their insights on the following matters and more:

• Many clients think their leaders aren't quick enough to respond, but Sam stresses the importance of taking risks intelligently and making decisions with confidence.

• PwC's annual risk survey found that 44% of CEOs believe their organisation won't be economically viable if they carry on along their current economic path. We discuss the need to change, adapt, and reinvent.

• Sam takes us through the four layers of risk services—from macroeconomic risks through to crisis management.

• GenAI is improving productivity, decision making, and client and employee engagement—but it brings with it threats as well as opportunities. We discuss what these might look like in the risk space.

• Data analysis is important, but it is only as good as the quality of data available. We consider the importance of combining proprietary and external data to support decision making.

• Making use of ecosystems and working in a joined-up way is not just beneficial for firms, but for clients too.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Benjamin Samuels, Former Chief Revenue Officer at WeWork, about navigating growth and change.

Fiona Czerniawska, Source's CEO and Emma Carroll, Source's Head of Content, discuss innovation in professional services firms, on the latest episode of our The Future of the Firm podcast.

They discussed the following and more:

• When clients think about the types of innovation they see from firms they talk about blue-sky thinking, best practices that they can apply in their organisation, and flexible ways of working.

• If firms want to convince clients that they are innovative then they need to prove it rather than talk about it. A concrete example might include a small technology tool they've created or a solution to one, small pain point.

• Innovation has fallen from the top of clients' wish lists of the attributes they want to see in firms. They still think it is important, but have prioritised things like expertise and the ability to implement in 2024. We wouldn't be surprised to see this rebound when growth hits the business agenda again.

• "Tried and tested innovation" may not be innovation at all. And the value of innovation to a client can be eroded if firms roll the idea out more widely.

• Managed services offerings have a tricky tightrope to walk between being innovative and tailored to each client versus being commercially viable for firms.

• When clients talk about innovation, they often mean technology. Firms can help clients innovate fast with small-scale, quick tech wins, rather than large-scale, extended projects.

This podcast can be listened to in conjunction with Source's new publication, The Innovation Challenge, which takes a deeper dive into the subject and is available to subscribers of Source's White Space programme. If you'd like to learn more, please get in touch.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Andy Haywood, former Chief Modernisation Officer of Yorkshire Water, about the recurring challenges in businesses that he's experienced during his career.

Fiona Czerniawska, Source's CEO, and Margaret Cameron-Waller, Associate at Source, caught up with Emma Carroll, Source's Head of Content, on the latest episode of our The Future of the Firm podcast to discuss the thorny issue of whether consulting should be regulated.

Fiona and Margaret shared their insight on the following matters and more:

• If regulation is needed, then there is a decision to be made about whether firms or individual consultants would be the target. We think about what these options would involve.

• We consider what self-regulation looks like in the consulting industry today and what impact it is having.

• The wide nature of consulting work would make it extremely difficult to regulate—we look at the other pros and cons.

• There is an argument in favour of junior consultants going through a recognised qualification—we consider what this would entail. We also debate the need for CPD.

• We conclude that the consulting scandals that hit the headlines are outliers rather than the tip of an iceberg or the sign of a systemic problem.

• Firms should carry out satisfaction surveys with all clients, and this should include a question about the value created. We challenge firms to publish the results.

If you enjoyed this conversation, don't miss our sister podcast, Business Leader's Voice. In a recent episode, we talked to Andy Haywood, former Chief Modernisation Officer of Yorkshire Water, about the recurring challenges in businesses.