Creating Competitive Advantage

Strategic Learning and Development (L&D)

The business model of professional service firms is rapidly evolving.

New technologies, changing competitive landscapes and complex client requirements are some of the factors that are fundamentally shifting how professional firms do business. 

Saïd Business School and Meridian West have co-authored a series of papers that seek to answer some of the most important strategic questions on the agenda of professional services today.

Framing the series

Read launch paper
abstract wall of geometric shapes

In knowledge-based businesses, only by connecting a firm’s strategic ambitions with its organisational-level learning agenda will it be possible to effect change, and to develop the capabilities required to deliver tomorrow’s results.

In this paper, we provide an overview of key research themes we will showcase in the coming months to help firms align their strategic learning and development activity, not only to drive their competitive advantage, but to position themselves as a leading employer in the sector, and to attract and retain the most capable talent.

Designing your firm of the future

Read paper 1
looking up a minimalist staircase

This opening paper explores how L&D activity can be a tool to future-proof your firm and enhance its ability to deliver on the business strategy.

Firms are now implementing significant change programmes to re-define their market position and understand their required future skills and capabilities. This presents an ideal opportunity to help create a more strategic partnership between L&D and senior leadership, utilising the L&D function as an 'organisational development' unit to drive change.

Leading strategic change

Read paper 2
woman gesticulating

Paper 2 explores how L&D can best support firms in leading strategic change, contributing in particular to the implementation phase of such initiatives. Rather than seeing change as a one-off exercise at a single moment in time, we consider the skill sets, behaviours and mindsets which will best enable change to be embedded in a firm, and give examples of how L&D has been used as a strategic lever to create these capabilities.

As a core element of this work, we discuss how the L&D function must connect closely both with senior partners and the HR team to ensure alignment of objectives and also to minimise any derailment of the change process.

Early career pathways

Read paper 3
young students walking

Since the financial crash of 2008, various factors have impacted significantly on the early career phases of professionals: changes in client expectations, new technologies enabling greater automation of more commoditised tasks, and changes to the overall business models of firms.

Prior to these fundamental changes, career paths in professional firms typically progressed in a linear format, from trainee/consultant to partner, via a series of transitions, usually within the same firm.

The external influences described above, together with increasing demands for more flexible career paths from new entrants, are disrupting that linear progression. The old-style career ladder is being converted to something akin to a jungle gym or a 'career lattice'.

In this paper, we examine the drivers of change affecting early career pathways and present case studies on how professional firms can best equip, and retain, their talent through strategic learning and development.

Career pathways for senior leaders

hands writing in notepad

Paper 4 coming Winter 2018.

The final paper of our series will focus on the career pathways of senior leaders across professional services firms. We will explore key career transition points, including the preparation of partners to take on management roles and also the complex issues of career transitioning towards the end of a partner’s career.

Whilst there is often significant L&D investment in preparing individuals for partnership, and in their early years as a partner, managing the transition to a practice management or managing partner role often lacks structured preparation. Moreover, the required skill sets are quite distinct. 

Practitioners previously focused solely on fee-earning are now expected to lead large groups – or even the whole partnership – with challenges ranging from setting the strategy to building consensus and momentum for its implementation.

We examine how to best prepare partners for these complex management challenges. In addition, we consider how L&D has been used to support them over the longer term, considering steps such as their subsequent re-integration into client portfolios once they no longer hold management roles.

Further research

The University is renowned for conducting leading-edge research that forms the backbone of our programmes. It gives our participants and students access to pioneering thinking, knowledge and expertise.

Questions?

We would be delighted to answer your questions on our Strategic Learning & Development series.