Professional Services companies include the likes of law firms, property services companies, accounting firms, and other consulting outfits. These companies are highly dependent on white collar knowledge workers.
The partnership structure of many firms in the professional services sector lends itself to a more collaborative style of management. The success of HR in this environment can often be highly dependent on the practitioner's skills in stakeholder management of the company’s numerous partners. The retention of HR talent in this sector tends to be strong, as professional services companies are showing themselves to be forward thinking on virtual and flexible working strategies. The greatest challenge in this sector tends to be the need for HR leaders to have sharp stakeholder management skills, as they often find themselves facing off to many partners, as opposed to just one decision maker.