News and Insights

Stephen Roberts recently attended the CIPD Festival of Work which brought together nearly 13,000 professionals across HR, L&D, and leadership to explore the future of work. Stephen shares his key insights on how leaders in the HR sector are adapting to a rapidly changing landscape.

1. Engagement: your people are your customers

According to ADP’s 2024 global study, only 21% of employees are fully engaged at work. That means nearly 80% are not. Yet engagement is the single biggest driver of productivity and loyalty. 

As Annabel Jones of ADP put it, HR teams need to think like account managers. Every employee is subscribing to your workplace - and they can churn if the experience doesn’t deliver. That means understanding what matters to each individual, in the context of their team and the wider organisation. 

Quarterly pulse surveys are replacing outdated annual engagement reports, and HR software like Ciphr can help HR teams monitor engagement in real time and identify where to improve. 

But surveys help you assess engagement, not deliver it. That comes down fundamentally to pay, progression, and purpose. If people can’t see a future in your organisation, they’ll find one elsewhere.

2. Investment skills: build a workforce that stays

According to ADP, only 17% of UK employees believe their employer invests in the skills they need to advance. That figure drops to 12% across Europe. Yet when employers do invest in training, workers are six times more likely to recommend them.

The most in-demand areas? Communication, leadership, and soft skills. These aren’t just “nice to have”- they’re essential for navigating change, managing teams, and driving performance.

There has been a growth in companies that are helping businesses build scalable training pipelines. But the real shift is cultural: from seeing training as a cost, to recognising it as a strategic investment in retention and growth.

3. AI adoption is a people challenge as well as a technical one

“AI won’t take your job - but people who use AI will.”  

AI is a source of worry for many employees, while younger employees are more optimistic, many see it as a threat. The solution? Involve your people in how AI is introduced and used. Done right, AI should reduce stress, not to add to it, but people need to have clarity on why it isn’t a threat but a facilitator.  

As Neil Pickering of UKG noted, AI adoption starts with understanding your own data and processes. Then it’s about removing friction - making AI easy to use, secure, and clearly beneficial.  

At ECI, this is an area we actively support management teams with, identifying and facilitating the most valuable use cases for AI, in a way that can make their teams more productive, and engaged through spending their time on higher value tasks.

4. Trust and transparency over surveillance 

Speakers noted that monitoring tools are on the rise, but they’re not always delivering the results leaders hope for. In fact, employees who feel watched are four times more likely to report low productivity. 

The answer isn’t more surveillance - it’s clarity in communications. When people understand what’s expected of them, they perform better and feel less stressed. 

OKRs or V2MOM are frameworks used throughout our portfolio to align teams around shared goals. But the real shift is mindset: trust your people to deliver, and they usually will.

As one speaker put it: “Are we using productivity tools to build a better business - or because we don’t trust our people?”

5. Boost the wellbeing of your team 

In 2023/24, the UK lost an estimated 16.4 million working days to stress, depression, or anxiety. Burnout is a productivity killer and it’s often preventable. 

Creating a culture where people feel safe, supported, and included isn’t just good ethics - it’s good business. That means normalising mental health conversations, training managers to spot the signs, and designing work in a way that supports balance. 

Flexible working helps but only if it’s backed by trust and fairness. Nearly 30% of employees say they feel judged for using flexible policies. That needs to change.

If you’d like to chat to anyone about how we are working with HR Tech companies, and supporting companies to enhance their people and culture strategies, please get in touch.

Despite the significant challenges posed by US tariffs, does the recent executive order signed by President Trump on US-UK trade create any opportunities for UK companies?

While we are in an era where anything can change any moment, Lewis Bantin looks at the current state of the market, and where there may be some opportunities for those in the UK.

1. Potential for increased competitiveness for UK exports 

While the UK faces a 10% baseline tariff on most goods exported to the US, this rate is notably lower than the reciprocal tariffs imposed on many of the UK’s key competitors.

Given the state of the global current account (im)balance (see IMF analysis below), Trump has hit Europe with a 50% tariff on steel and aluminium and a 25% levy on cars; the EU is trying to secure a deal before July 9, when reciprocal tariffs on most other goods would rise from 10% to up to 50%. For China, US tariffs will be set at 55%.

Depending on the final rate of reciprocal tariffs, the differential could make UK exports to the US comparatively cheaper, creating a ‘least bad option’ advantage. Similarly, with the EU looking at a minimum of 10% reciprocal tariffs on the US, EU buyers of software may look to the UK for service given the immediate price advantage, but also, and perhaps more importantly, greater predictability about future cost. In the meantime, you may also see a benefit for companies, such as Moneypenny, that are operating across both regions with a US and an UK HQ. 

2. Opportunities arising from new US-UK trade deals focusing on digital trade 

The recent UK-US Economic Prosperity Deal, announced on May 8, 2025, represents a significant development. While it did not fully resolve the Digital Services Tax issue, it explicitly establishes a foundation for a deeper relationship with a strong focus on technology. This agreement includes a platform for future negotiations on digital trade, critical minerals, and economic security.  

The stated objective is to “strip back paperwork for British firms trying to export to the US”, with the potential to open a vast (US) market and significantly boost the UK economy. This suggests avenues for deeper collaboration in areas such as AI and quantum technologies. The explicit emphasis on a “digital trade deal” and “technology partnership” signals a clear recognition by both governments of the growing importance of the digital economy. This is good news for UK software companies, especially if it leads to a more streamlined regulatory environment, allowing them to access more of the global market. This will especially benefit those that have shifted away from hardware, for example Peoplesafe have shifted from hardware to cloud-based application, which has seen a 158% growth in app sale requirements compared with 30% for devices since 2022.

3. The drive for accelerated AI adoption and operational efficiencies

The cost pressures, supply chain disruptions, and market restrictions imposed by tariffs are compelling businesses across various sectors to seek greater cost efficiencies and re-engineer their processes. This environment creates a strong incentive for the accelerated adoption of AI to improve both the productivity of internal process as well as open new use cases for services. 

With a wealth of UK and European software companies specialising in these areas, there is an opportunity to sell to those looking to mitigate tariff impacts through digital transformation and the outsourcing of “non-core” services to niche expert providers.

4. Supply chain shifts

Tariffs can induce sudden shifts in global demand and supply patterns, leading businesses to actively move away from exposure to “tariff-heavy” regions of the world. This dynamic could present opportunities for UK-based companies to benefit from a higher supply of, and potentially cheaper prices for, tech goods and components that were previously destined for the US. This also generates new demand for software solutions that assist businesses in managing increasingly complex and diversified global supply chains.

There is a chance that we may see more foreign investment in the UK tech sector as companies in other locations with higher tariff rates look to relocate to take advantage of the comparably lower rates in the UK – assuming, of course, that the “new normal” of global tariffs persists. However, this will all come out in the wash in the medium to long-term, depending on the rates imposed, and whether they stick.

No one wants to operate in a protectionist world; it limits global trade and hinders predictability, which is damaging to business and investment decisions. 

However, despite this complex and dynamic environment, the UK is relatively well placed and recognises its need to trade in an agile way. UK companies should be on the lookout for opportunities coming out of this wider climate.

In our latest Quick Fire, we chat with ECI’s Origination Analyst, Sam Veevers, about his journey into private equity, the reality of AI adoption, and why his browser tabs are getting out of hand.

Q: What made you want to join ECI?

I’ve always been someone who values learning and development, so I was immediately drawn to ECI’s approach. It was clear that personal growth was something they took seriously, and they’ve absolutely delivered on that promise. Ten months in, I’ve picked up more skills than I can count and, with ECI’s support, I’ve recently enrolled in an AI/ML programme at Cambridge. 

I was also really impressed by how connected the teams are here. The Origination, Commercial and Investment teams don’t work in silos, they operate as one, and wins are shared across the board. That kind of collaboration really stood out to me. 

Q: How do you leverage AI as part of your role?

Personally, I use AI to streamline the origination and research process. Whether it's classifying companies, structuring web data, or enriching our pipeline with real-time insights, I’ve built several LLM-powered workflows to help us cut through the noise and identify high-fit opportunities at scale. 

At a broader level, ECI has taken a proactive approach to embedding machine learning across the business through Amplifind™, our AI-powered origination engine that uses proprietary data to source, prioritise and assess leads.  Over the past year, we’ve expanded it with modules like Amplifind™360, which uses AI to drive better decision making and collaboration for our portfolio on M&A prospects and pipeline. We’ve also introduced agentic tools that can intelligently source and compile relevant information. The goal is to eliminate low-value manual work and free up time for what really matters: critical thinking and decision-making. 

Q: What have been some of the biggest changes you've seen with AI in the wider market since you joined?

It’s been exciting to see how much the landscape has shifted even just in the past year. We’ve moved beyond basic chatbot-style tools to much more sophisticated, workflow-integrated AI solutions. I think that shift has been driven by two things: better access to low/no-code platforms and a big jump in general AI literacy across the workforce. 

That said, one major bottleneck for many businesses is still the quality of their internal data. As they say, bad data in, bad data out. What gives ECI a real edge here is that we’ve spent years investing in how we structure and store data. That head start has allowed us to use AI tools more effectively and get meaningful outputs much faster. 

Q: What are your predictions for the M&A market in 2025?

Coming into 2025, many in the market felt that it was likely to be a busier H2, and so far, that reflects what we have seen. Q1 was relatively quiet across the board, as many businesses were still grappling with uncertainty whether that was around inflation, interest rates or wider macroeconomic conditions. That quieter period gave us, and many others, space to focus on strategic priorities, including embedding and supporting our four new portfolio companies from a busy deal period at the end of last year.  

Now, it feels like momentum is building across the market. The pipeline is stronger, conversations are more advanced, and processes that may have been paused last year are beginning to move forward again. That said, there’s still a sense that some sellers are waiting for that “perfect” moment perhaps due to economic uncertainty or timing. Hopefully a calmer and more positive economic and political backdrop will lead to more confidence that now is a good time to come to market.

Q: Where would you like to be in 10 years?

Honestly, that’s a tough one to answer... If the past 10 years have taught me anything, it’s that your path can take a lot of unexpected and exciting turns. For me, the focus isn’t on a specific title or destination it’s about staying challenged, learning new things, and being part of something that feels impactful. As long as I’ve got that, I’ll be happy.

Quick Fire with Sam: 

Are you an introvert or an extrovert?

Definitely an introvert.

What's the best bit of advice you have received?

“Everything happens for a reason.” It’s something my mum drilled into me growing up. I didn’t always appreciate it back then, but it’s stuck with me. When things don’t go your way, it’s easy to spiral so that little reminder helps me pause and put things in perspective.

Where are we likely to find you on a Friday night?

Fridays are usually a quiet night for me – working out, nice food and general ‘me time’ are among the typical agenda. With the level of quietness being largely influenced by Thursday nights activities – after all Thursdays are the new Fridays!

What is your worst habit?

I tend to hoard Chrome tabs throughout the day ‘just in case’ I need them later. Fast forward a few hours, and I’ve got 237 tabs open across five windows, wondering why my laptop’s fan sounds like a jet engine.

Who would you most like to have dinner with?

Probably the Egyptian Pharaoh Khufu (commissioned the Great Pyramid of Giza). So many questions, so many YouTube videos to debunk.

Croud, the digital-first marketing company, is pleased to announce the appointment of Steve King as its new Chair of the Board. King will play a key role in guiding Croud through its next phase of growth — helping to lead with innovation, scale the business, deepen client partnerships, and strengthen Croud’s position as a leader in delivering data-driven marketing.

Steve King brings over two decades of global leadership experience, having founded Zenith in the UK and the US, establishing its presence on both sides of the Atlantic. He served on the Board of Publicis Groupe for more than 20 years, where he led the global launch of Publicis Media and later served as Global Chief Operating Officer.

King takes over from advertising veteran Jerry Buhlman, who steps down after five transformative years. He played a key role in the business as it expanded its reach geographically with several US acquisitions, and across capabilities, acquiring Born Social, Vert Digital and MetaGeni. He oversaw Croud’s growth trajectory which resulted in the successful investment by ECI in October last year. Jerry will continue to be involved in the business as a special advisor to the Board. 

This new leadership appointment comes at a pivotal moment for Croud as it launches its market-leading AI-powered platform, powering the new proposition to ‘Deliver a Return on Intelligence’. The proposition fuses its people, technology and AI capabilities organised to deliver incremental and commercial returns. The company has invested heavily in key leadership and new technologies, integrating these into its brand and performance media, as well as creative offering.

He joins Croud, as the company leads with:

1. Market-leading tools and technology: Croud OS, a proprietary operating system that’s fully embedded into client delivery and designed to drive measurable marketing effectiveness, with key tools like Brand AI and SEO.Max.
   
2. The Croudie Network: A standout model offering a globally distributed, flexible, scalable resource aligned to marketing plans – a level of sophistication unique in the industry.
   
3. Top-Tier leadership: The recent appointment of Debbie Ellison, as EMEA CEO, Char Hamill as new EMEA COO and Kris Tait stepping up into the new role of Chief Business Officer, having built a strong base for the US business to grow. The appointments follow an objective over the last 12-18 months to bring in strategic leaders from across the industry.