We hear about the lack of collaboration in professional services firms a lot. Pretty much every day of the week we hear stories of a ‘silo mentality’ or a ‘protective’ approach to client relationships, which keeps colleagues as far away from clients as possible and a lid on (potential) growth.
Firms talk a lot about the need to focus on broadening services to clients of a firm, and it’s all well-intentioned. But in the end, the old phrase “actions speak louder than words” holds true.
There are exceptions. And the benefits those firms reap from well planned, action-based collaboration are eye-watering, both in absolute terms, but especially in relative terms when compared to firms who lack the will and/or skills to foster collaboration.