Addressing new consulting realities
Creating compelling consulting experiences
Fiscal 2022 saw RSM’s consulting line of business surpass $1 billion in annual revenues as it continued to evolve to create value for clients and employees in a changing environment.
“Collaboration and enterprise perspective are keys to continued growth and addressing new realities,” said Brian Becker, RSM managing partner and CEO-elect. “Now, more than ever before, we need to adapt to our talent and clients’ needs to be compelling.”
Compelling client experiences
In an environment of continued uncertainty—from rapid technological change, a tight labor market and a changing workforce, to new business risks posed by the war in Ukraine and persistent inflation—clients are turning to RSM to help them thrive and evolve their businesses for the future.
While some clients want a laser focus on their specific needs, many want a holistic approach to solving their problems. RSM provides both through an experience tailored to the client.
In fiscal 2022, we expanded our ability to provide holistic service by embracing industry and collaborating across functions and solution sets to increase our relevance and harness the full power of RSM to benefit our clients. We also continued to build our enterprise account leader program to provide clients with broad needs across multiple consulting functions and RSM lines of business with dedicated leaders to enable seamless client service and growth.
Clients who want holistic solutions are increasingly turning to RSM’s managed services for their technology, risk, finance and other business needs. This approach enables access to best-in-class tools and experienced resources to navigate today’s changing business environment, enabling clients to maintain sound operations in times of uncertainty.
“The number of managed services client engagements in fiscal 2022 alone is a testament to how adaptive we have been already,” said Pat Vance, RSM consulting leader. “We made significant progress in this vast landscape of opportunity and we’re only getting started. If we can incorporate managed services into our client deliveries, it will help us deepen those relationships and bring significant value while simultaneously growing the consulting practice.”
In fiscal 2022, consulting also enhanced its service offerings both organically and through two acquisitions that expanded our ability to provide nonprofit technology solutions and digital transformation through ServiceNow.
Compelling talent experiences
In an environment of virtual work, remote meetings, hybrid schedules and expanded global collaboration, RSM’s consulting teams adapted to new ways of working. We have invested heavily in recruiting, onboarding and talent development strategies to enhance the experiences for our people and help them serve our clients effectively, which has resulted in retention rates above the market trend.
In fiscal 2022, we continued to evolve our learning and development approaches to bolster the execution of our strategy. From immersive technical boot camps to industry knowledge to project management and first-choice advisor skills, we are building the skills of our professionals to meet our clients’ changing needs while enhancing the career paths of our people.
In the face of a tight labor market in the United States and the need for new skill sets, we also greatly expanded our talent in India and El Salvador. This provides our teams with highly skilled resources that bring new insights and capabilities while enabling work to be done seamlessly over a 24-hour day. Our global teams are learning to operate collaboratively, improving both client and talent experiences.
We are also accelerating our efforts to provide an inclusive culture and talent experience to attract and retain the best, the brightest and the most diverse workforce. We continue to provide support, flexibility and enriching experiences so that our people are compelled to bring their best to our clients and to each other while building successful long-term careers. Our people tell us that when they join our firm, the cultural experience is exactly what we said it would be during the interview process—they think it’s something special and so do we.