WILL PROFESSIONAL SERVICES KEEP DRIVING UK GROWTH IN 2025?

The UK professional services sector demonstrated robust growth throughout 2024. According to a recent analysis by the Financial Times, the legal industry in particular showed strong performance over the last 12 months, fuelled by demand for M&A and restructuring advice, as businesses navigated a complex economic landscape. 

Other fields such as accounting, auditing, and tax consulting services also had a resurgent year, as revenues returned to pre-COVID levels — exceeding them in some areas. This success can be attributed to several factors including regulatory change and a renewed focus on financial management. 

Trust or Company Service Provider (TSCP) businesses contributed significantly to this positive trend with growth of around 3.5% over 2023, reflecting the ongoing importance of innovation and specialised expertise in the incorporation, management, and administration of complex legal entities. 

However, despite these positive signs, the CBI has expressed a more cautious outlook for overall growth and productivity in 2025, citing concerns from business leaders about inflationary pressures and global economic headwinds — as reported by Bloomberg.

PRAGMATIC APPROACH, POSITIVE OUTLOOK

However, not every professional services business is looking to 2025 with the same degree of trepidation — and at Victus Search, our experience on the ground paints a somewhat different picture. 

The businesses we work with — although acknowledging the challenges ahead — are not scaling back their growth ambitions. Instead, they are generally pragmatic in their outlook, adopting a more focused, strategic approach to expansion. 

This includes prioritising key projects with the highest return potential, investing in specific high-growth areas such as sustainable finance or digital transformation, and, crucially, implementing a more strategic approach to talent acquisition. 

PROFESSIONAL SERVICES PRIORITISE SPECIALISATION

Looking ahead to 2025, specialisation will be a key differentiator. Businesses are adapting to new ways of working, embracing hybrid models and remote collaboration, and expanding into new markets and jurisdictions, all of which create a demand for niche expertise. 

Rather than simply filling vacancies, they are increasingly focused on acquiring individuals with the precise skills and experience needed to drive growth and innovation.

This trend is further reinforced by the need to maximise efficiency and do more with existing resources, avoiding over-expansion during a period of continued economic uncertainty. At Victus, we’re already seeing this play out in several sectors. 

For example, there’s a marked increase in the professionalisation of family offices, with a growing demand for experienced investment managers, legal counsel, and tax advisors. Elsewhere, the increasingly complex regulatory landscape is driving demand for compliance specialists across various sectors, from financial services to technology.

OPPORTUNITIES AND CHALLENGES FOR PROFESSIONAL SERVICES

This focus on specialisation presents both challenges and opportunities. For businesses, it means identifying and attracting individuals with highly sought-after skills. For professionals, it offers the chance to develop deep expertise and command premium salaries. 

While adapting to technological advancements and regulatory changes is important, acquiring, developing, and retaining the right talent is paramount. It’s the key to not only navigating these challenges but also driving innovation and achieving sustainable growth.

At Victus Search, we believe the overall outlook for 2025 is positive for those companies that can successfully navigate this evolving talent landscape and strategically onboard the right people for the right roles — and as a result, the outlook for candidates is similarly optimistic. 

BUILDING LONG-TERM PARTNERSHIPS FOR SUCCESS

Victus Search is the ideal recruitment partner for professional services firms seeking to fill specialist roles. We don’t just fill vacancies — we build long-term partnerships. We’re invested in your success, understanding your business needs and working closely with you to identify the talent that will drive your growth. 

Our global talent network provides access to a diverse pool of candidates, including skilled professionals not actively seeking new roles – the passive talent pool that often holds the key to unlocking true competitive advantage. We’re ready to help you build the right team for your business in 2025 and beyond.
Contact us today to discuss your recruitment needs and how we can help you achieve your strategic objectives in the year ahead.