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Professional services today serve a very important role in the business ecosystem. They deliver core expertise such as legal services, CPA services, and project consultation that can safeguard and transform a business’s success trajectory.
In this context, talent is considered to be a core asset for business success at professional services firms. The exit of even one employee can be detrimental to the business, triggering distrust among clients. Yet, businesses struggle to build a robust value proposition for employees to stay on and grow with the business.
Today, adopting a people strategy in business is emerging as a key strategy to enhance employee experience and retention, and reduce the Cost-to-Company (CTC) per employee.
In this blog, we deconstruct what is a people strategy and how professional services can leverage it to drive business growth and success.
Why is a People-First Strategy Important for Professional Services?
First, let’s understand how a professional services business is distinct from, say, a product business and, hence, requires a unique strategy for business success.
A product business offers a tangible offering in the form of a product. On the other hand, a professional service is an
