A new year is upon us – and our thoughts naturally choose thinking ahead to put together for new challenges. This web site targets whatever we see as the most crucial trends facing the company executive protection industry – and what they indicates for both corporate clients along with the specialist partners that service their EP needs.
We expect the EP industry will mature a lot more in 2016, as specialist partners professionalize their services and operations to keep up with the requirements of demanding corporate clients. We assume that we will see more consolidation through the entire entire industry, as security professionals who have the ability to serve major corporations grow in expertise along with market share, and smaller firms either quit or experience flat growth.
Like other fragmented industries, Mom and Pops keep having a disproportionate share in the corporate EP market. Security firms that service departmental stores and banks will still be called on to provide close personal protection for corporate clients. We think this will likely change even more in 2016.
Our industry matures alongside – indeed, is driven by – our client’s growing expectations. Corporations’ target the quality in their EP programs – and therefore about the qualifications with their EP agents and managers – will undoubtedly rise in 2016. The role of the EP manager will be even more in focus. Which means that more emphasis will be added to soft skills, training and real corporate EP experience, and much less on simply using a background in police force or even the military.
Better performance management and ongoing quality improvement programs will have a progressively vital role about the HR side. Planning that integrates EP into overall corporate strategies, values and culture will be more commonplace. Even finance departments could be more involved as cost drivers be a little more transparent, and merely properly funded specialist partners will be able to handle large-scale projects without worrying about cashflow problems.
Since the businesses of practically each of our corporate customers are inherently global, specialist EP partners must furthermore have a broad international footprint. We should be ready to serve our clients wherever they go. This, too, indicates that smaller local and regional players will most likely surface short when travel needs grow.
2016 could be the year when the term security threats gets an overhaul. A more descriptive term for what we should actually do (albeit less an easy task to say) could be “executive protection and productivity enhancement”.
We certainly have known for a long period that good corporate EP have to do over mitigate risk. It must also allow the principle to get more done a lot sooner. Smooth travel logistics allow “the highest paid person in the room” to stay in more rooms in additional places, arrive there with less stress, and stay as productive on the streets as at home.
We think for this reason increasingly more boards are placing a pencil towards the derived advantages of best-in-class EP programs. As well as duty of care toward highly prominent execs and protecting shareholder value, enabling better productivity is useful for C-suite principles and great for business. The rest being equal, it even boosts competitiveness.
As globalization and international instability continue to escalate in 2016, more companies will probably be looking for more protection in additional places.
This trend are only reinforced by other forces for example increasing concentrate on disparity of revenue and the internet’s insatiable thirst for celebrity stories. The prominence of high net worth and ultra high net worth individuals along with their families improves, creating the demand 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 only for people in the C-suite. Lower-level execs, service technicians and others will also be supplied with more 87dexhpky support, specifically in emerging markets. Travel, HR and legal departments will consider duty of care obligations alongside growth opportunities in unfamiliar territories – and will also be reflected in more decisions to mitigate predictable risks for travelers and expats.
We also believe the top executive protection companies in China will keep growing. Yes, the stock market is tanking, but China still boasts more billionaires than the US. We arrange for growth there.
It’s a little bit-known fact, but one of the more serious risks many corporate executives face derives from within their own organizations: disgruntled employees with real or perceived grudges.