A new year is upon us – and our thoughts naturally choose thinking ahead to prepare for first time challenges. This web site targets what we should see as the main trends facing the business executive protection industry – and what they means for both 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 certain requirements of demanding corporate clients. We believe that we will see more consolidation during the entire entire industry, as security professionals 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 continue to have a disproportionate share in the corporate EP market. Security companies that service shopping malls and banks are still called through to provide close personal protection for corporate clients. We feel this will change more in 2016.
Our industry matures alongside – indeed, is driven by – our client’s growing expectations. Corporations’ focus on the quality of their EP programs – and so around the qualifications in their EP agents and managers – will only increase in 2016. The role in the EP manager will be a lot more in focus. Consequently more emphasis will likely be added to soft skills, training and real corporate EP experience, and less on simply developing a background in police force or even the military.
Better performance management and ongoing quality improvement programs will play a progressively vital role around 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 be more transparent, and simply properly funded specialist partners are able to take on large-scale projects without worrying about income problems.
Considering that the businesses of practically each of our corporate clients are inherently global, specialist EP partners must furthermore have a broad international footprint. We have to be ready to serve our clients wherever they go. This, too, means that smaller local and regional players will most likely come up short when travel needs grow.
2016 could well be the year if the term security threats gets an overhaul. A much more descriptive good name for what we should actually do (albeit much less very easy to say) would be “executive protection and productivity enhancement”.
We have now known for a long time that good corporate EP must do a lot more than mitigate risk. It should also allow the principle to get more done a lot sooner. Smooth travel logistics allow “the highest paid person within the room” to be more rooms in additional places, get there with less stress, and stay as productive on your way as in your own home.
We believe for this reason a lot more boards are placing 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 good for C-suite principles and great for business. Everything being equal, it even boosts competitiveness.
As globalization and international instability consistently escalate in 2016, more companies will probably be trying to find more protection in additional places.
This trend are only reinforced by other forces including increasing focus on disparity of revenue along with the internet’s insatiable thirst for celebrity stories. The prominence of high value and ultra high net worth individuals and their families improves, creating the demand for better comprehension of the consequent risks, threats and vulnerabilities – and ways to mitigate them.
But we predict that requirements for secure travel increases not simply for members of the C-suite. Lower-level execs, service technicians as well as 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 – which will be reflected in decisions to mitigate predictable risks for travelers and expats.
We believe the top executive protection companies in China will keep growing. Yes, stocks and shares is tanking, but China still boasts more billionaires than even the US. We plan for growth there.
It’s just a little-known fact, but one of the more serious risks many corporate executives face derives from the inside their very own organizations: disgruntled employees with real or perceived grudges.