A brand new year is upon us – and our thoughts naturally consider thinking ahead to get ready for new challenges. This web site focuses on what we should see as the main trends facing the business executive protection industry – and what they means both for corporate clients as well as the specialist partners that service their EP needs.
We expect the EP industry will mature much 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 industry, as professional security company who are able to serve major corporations grow in expertise as well as market share, and smaller firms either surrender or experience flat growth.
Like other fragmented industries, Mom and Pops keep having a disproportionate share from the corporate EP market. Security businesses that service shopping centers and banks remain called onto provide close personal protection for corporate clients. We feel this can change more in 2016.
Our industry matures alongside – indeed, is driven by – our client’s growing expectations. Corporations’ pinpoint the quality in their EP programs – and thus around the qualifications in their EP agents and managers – will simply increase in 2016. The role of your EP manager is going to be much more in focus. Because of this more emphasis will probably be added to soft skills, training and real corporate EP experience, and fewer on simply developing a background in police force or maybe the military.
Better performance management and ongoing quality improvement programs will play an increasingly vital role about the HR side. Planning that integrates EP into overall corporate strategies, values and culture could be more commonplace. Even finance departments are often more involved as cost drivers be a little more transparent, and simply properly funded specialist partners should be able to undertake large-scale projects without worrying about cashflow problems.
Ever since the businesses of practically our corporate customers are inherently global, specialist EP partners must in addition have a broad international footprint. We have to be ready to serve our clients wherever they go. This, too, indicates that smaller local and regional players will most likely show up short when travel needs grow.
2016 may well be the season when the term security threat assessment gets an overhaul. A far more descriptive name for everything we actually do (albeit not quite as very easy to say) would be “executive protection and productivity enhancement”.
We have now known for some time that good corporate EP must do greater than mitigate risk. It should also encourage the principle to get additional done in less time. Smooth travel logistics allow “the highest paid person within the room” to be in more rooms in additional places, arrive with less stress, and also be as productive on the road as in your own home.
We know this is why a growing number of boards are putting a pencil towards the derived advantages of best-in-class EP programs. Along with duty of care toward highly prominent execs and protecting shareholder value, enabling better productivity is good for C-suite principles and beneficial to business. The rest being equal, it even boosts competitiveness.
As globalization and international instability still escalate in 2016, more companies is going to be seeking more protection in additional places.
This trend will only be reinforced by other forces for example increasing focus on disparity of revenue and the internet’s insatiable thirst for celebrity stories. The prominence of high value and ultra high net worth individuals in addition to their families increases, creating the requirement for better knowledge of the consequent risks, threats and vulnerabilities – and ways to mitigate them.
But we predict that requirements for secure travel will increase not only for people in the C-suite. Lower-level execs, service technicians as well as others can also be provided with more 87dexhpky support, specially 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 additional decisions to mitigate predictable risks for travelers and expats.
We also believe the executive protection security in China will keep growing. Yes, stocks and shares is tanking, but China still boasts more billionaires than including the US. We arrange for growth there.
It’s just a little-known fact, but one of the most serious risks many corporate executives face derives from the inside their particular organizations: disgruntled employees with real or perceived grudges.