Grant Thornton outlines shared enterprise strategy

Grant Thornton outlines shared enterprise strategy

Grant Thornton outlines shared enterprise approach as key pillar in five year strategic plan to grow the business

GRANT THORNTON has outlined a five year strategic plan to grow the business and adopt a shared enterprise model in the firm’s first strategic review under the leadership of Sacha Romanovitch.

The strategic review sets out a three-pronged strategy, Vision 2020, based on building trust and integrity in markets; unlocking sustainable growth for dynamic businesses; and creating environments in which business and people flourish.

The firm is adopting a shared enterprise model – first announced in May 2015 – designed to share ideas, responsibility and rewards across the organisation as part of a three-year reward programme that works across the entire workforce.

Under the incentive programme, rewards will be funded from ‘superior profits’ and will be paid outside of pay rises, annual performance bonuses and partner profitability.

“The principle behind our approach is that we will only deliver Vision 2020 if all our people are actively involved in creating it and making it happen. It’s the culture we need if we are to achieve our ambitions. We’re experimenting and getting great input from our people on what is and isn’t working as we create a new way of operating.”

Grant Thornton said it will invest further in governance and wider assurance and growth services and also restructured its operation into simpler, larger units focused on key geographies, to group resources in ways that match clients’ interests.

The simplification of structure takes the firm to seven business units reporting into the head of operations – supporting the business unit leaders are practice leaders in each location who are responsible for driving distinctive client and people experience.

Industry leaders will operate across the units to bring specific insight and market expertise to clients, GT said.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource