A fresh year is upon us – and our thoughts naturally consider thinking ahead to make for brand new challenges. This web site focuses on whatever we see as the most important trends facing the company executive protection industry – and what they indicates for both corporate clients as well as the specialist partners that service their EP needs.
We expect the EP industry will mature more in 2016, as specialist partners professionalize their services and operations to keep up with the prerequisites of demanding corporate clients. We also assume that we will see more consolidation through the entire entire industry, as professional security company who can serve major corporations grow in expertise as well as market share, and smaller firms either stop trying or experience flat growth.
Like other fragmented industries, Mom and Pops continue to have a disproportionate share from the corporate EP market. Security firms that service shopping centers and banks will still be called through to provide close personal protection for corporate clients. We think this will likely change a lot more in 2016.
Our industry matures alongside – indeed, is driven by – our client’s growing expectations. Corporations’ concentrate on the quality of their EP programs – and thus in the qualifications of the EP agents and managers – is only going to surge in 2016. The role of your EP manager will likely be a lot more in focus. This means that more emphasis will be positioned on soft skills, training and real corporate EP experience, and less on simply possessing a background in police force or the military.
Better performance management and ongoing quality improvement programs may play an increasingly vital role in the HR side. Planning that integrates EP into overall corporate strategies, values and culture will be more commonplace. Even finance departments are often more involved as cost drivers become more transparent, and just properly funded specialist partners can handle large-scale projects without worrying about cashflow problems.
Because the businesses of practically each of our corporate clients are inherently global, specialist EP partners must also have a broad international footprint. We must be ready to serve our clients wherever they go. This, too, will mean that smaller local and regional players will usually surface short when travel needs grow.
2016 may be the year as soon as the term security threat analysis gets an overhaul. A far more descriptive reputation for everything we really do (albeit less easy to say) would be “executive protection and productivity enhancement”.
We have known for a long period that good corporate EP must do a lot more than mitigate risk. It needs to also enable the principle to get more done in less time. Smooth travel logistics allow “the highest paid person inside the room” to remain more rooms in places, get there with less stress, and be as productive on the road as in your own home.
We believe this is why a growing number of boards are putting a pencil to the derived benefits associated with best-in-class EP programs. Together with duty of care toward highly prominent execs and protecting shareholder value, enabling better productivity is perfect for C-suite principles and great for business. Anything else being equal, it even boosts competitiveness.
As globalization and international instability still escalate in 2016, more companies is going to be trying to find more protection in places.
This trend are only reinforced by other forces for example increasing center on disparity of revenue along with the internet’s insatiable thirst for celebrity stories. The prominence of high net worth and ultra high value individuals in addition to their families will increase, creating the requirement for better comprehension of the consequent risks, threats and vulnerabilities – and the ways to mitigate them.
But we predict that requirements for secure travel increases not merely for individuals the C-suite. Lower-level execs, service technicians yet others will also be given more 87dexhpky support, particularly in emerging markets. Travel, HR and legal departments will consider duty of care obligations alongside growth opportunities in unfamiliar territories – which will be reflected in more decisions to mitigate predictable risks for travelers and expats.
We believe the executive protection in China will keep growing. Yes, the stock market is tanking, but China still boasts more billionaires than even the US. We plan for growth there.
It’s a bit-known fact, but probably the most serious risks many corporate executives face derives from inside their own organizations: disgruntled employees with real or perceived grudges.