Having made it through 2020, perhaps far more successfully than any of us thought possible in March of last year, we wanted to take the temperature of our contacts regarding business confidence.

2020 will forever be etched in our minds for the tragic loss of life, the rapid changes to many business models, the anxiety of job insecurity, and the difficulties of home schooling for both parents and children. We actually sent out this survey in January, which for many was the worst point over the last 12 months. The weather was awful, the potential for Brexit confusion lingered, the isolation and monotony of full-time homeworking wasn’t working for many, and there was no guidance on lockdowns ending. However, the responses we received are inspiring. Perhaps showing the optimism, dynamism, and resilience of the human race and the industry we support.

Many of those we’ve surveyed feel they won’t be reducing their office space, even if they use it differently. Most people can’t wait to meet clients again and to go back to offices, even if only some of the time. I think the message is “we want the old normal, but a more agile and trusting relationship with colleagues”. I believe that the happiest time for many was last summer when they were able to attend the office occasionally and to meet clients. A lack of face to face meetings/prospecting opportunities is a problem. However, it is clear confidence is increasing, and I suspect if we ask the same questions again in March, we’d receive an even more positive response.

Financial services has been very fortunate in that it’s most been immune to the economic headwinds we’ve seen elsewhere. I think the industry could be about to go through a very exciting period of innovation and growth once COVID dissipates – I hope I’m right.

Simon Roderick, MD Fram Search