"Is BREXIT the biggest Change Management Opportunity EVER...? "
Shoptalk discussion on 27th July 2016 at "The Hand and Shears"....
The Hand & Shears hosted over 20 cutting edge management consultants including the Master, all Wardens, and two Past Masters who took the opportunity on a warm evening to discuss their differences over a convivial drink. Noorzaman Rashid , First warden, successfully headed this roomful of differences leading to what was universally considered a good event.
At the end of the evening the differences were not erased. shocked Remainers remained shocked and worried about the future; and shocked Leavers remained shocked, but hopeful about the future; but a path forward through the Brexit implications, at least for The Company, began to emerge.
The confidence of the major consulting employers, which had been in abeyance for some weeks before 23rd June, and four weeks afterwards, was returning; and recruitment enquiries were now at or above pre-debate levels. Genuine fears exist over the loss of talent from London to European cities and future recruitment challenges.
The possibilty of Brexit meaning "Remain-minus" had not been entirely discounted, as clear forces were at work to minimise individual interests being damaged by the process. And damage to existing activities will continue having a higher profile over emerging new opportunities. The possible speed of change was identified as being a risk in itself, irrespective of what that change was. Metropolitan Elite versus 'The Heart of the Nation' remains an issue. It was clear that the uncertainty and shortage of key interpretative and negotiation skills should create opportunities; some felt that everyone was now 'managing change' and the big consulting opportunities lay at a strategic level; scenario planning and cross-industry connections. Legal services saw big opportunities and would require management consultants to help them exploit these. The damage to the status of 'Experts' was highlighted, and discussed. Was the damage at a political and commercial level? As 'experts' , was the status of Management Consultants threatened?
Potentially greater Risks than those represented by BREXIT....?
It was agreed that the risks of Brexit were being given exaggerated importance; and bigger risks include election possibilities, Trump "In", Le Pen "In", Merkel "Out", Chinese economy stagnation. The opportunities related to Commonwealth and other markets had not really been explored.
To conclude...
So, in conclusion, uncertainty prevailed; but it was suggested that keeping close to our members' experience in their vartious client sectors would enable us to respond appropriately and advise members as knowledge levels improved; and separately we should consider leading a City initiative to support the rebuilding of confidence in experts.
David Johnson, Shoptalk Convenor - Second Warden