The bi-annual joint Moore Markhams and Moore Australia partners conference concluded on 12 July in Auckland. Attended by partners, directors and senior leaders from both sides of the Tasman, this year's conference distinguished itself by focusing on the space between the ‘known knowns’ and the ‘known unknowns’ of our future as an industry and a profession.
What We Know
The impact of known factors such as technology, new ethical and quality standards, as well as regulatory changes, is already well documented with implementation plans well underway. Our role in bringing validity and credibility to Environmental, Social, and Governance (ESG) reporting is becoming more established. As an industry with a reputation for reluctance to change, Professional Services have felt the influence of some of these changes, perhaps more than any other profession, and will continue to do so.
The evolving demands on our current and future workforce will also have far-reaching consequences. Rightly, our industry is placing more emphasis on the wellbeing of our staff and the importance of balance. With burnout re-emerging from its early 2000s sabbatical, to plague our post-pandemic society, our industry will equally need to re-learn to better look after itself. Earlier this month, Moore Global announced its commitment to the Mindful Business Charter in a bid to incorporate further care into our network’s culture. At time of writing, Moore Australia is assessing the potential of joining the charter.
What We Don’t Know
The client-advisor relationship is preparing for transformation. Client demands are already changing, with increasing pressure on their businesses to do more with less. Overall, our delegates did not believe technology would render their jobs obsolete, but rather that it would enhance their ability to connect with clients. Freeing humans from repetitive tasks using AI allows them time to deepen their understanding of clients' businesses and concerns, ultimately enabling them to add more value by further building their trusted advisory relationships.
The significant question which remains is what form that connection and understanding will take, and what future communication will look like. New generations entering the workforce now prefer more digital and mediated forms of communication, such as email, text messages and virtual meetings, with face-to-face or in-person meetings becoming less frequent.
While the majority of delegates acknowledged this change, the question is whether we are learning enough from the young people around us about this new world of communication. Will we be able to adapt, or will Darwin’s survival of the most digitally-adapted be the deciding factor?
How Can We Navigate the Negative Space and Use It to Our Advantage?
The negative space of the future – between the ‘known knowns’ and the ‘known unknowns’ – presents great opportunities if mitigated correctly. Our ability to be agile, maintain a growth mindset, and be open to changes will determine our success as a service provider and network. But in order to do so, our drive to collaborate and challenge the status quo must be relentless.
The future of our profession lies not just in understanding the known factors but in navigating the uncertainties with agility and a forward-thinking approach. As we embrace these changes, our commitment to excellence and innovation will guide us in delivering unparalleled value to our clients and colleagues.