George Economides, Vice-Chairman of Totalserve and partner at E & G Economides LLC, participated as a panellist at the 9th Cyprus Professional Services Conference on May 21, 2024. The conference, organized by IMH, brought together industry senior executives to discuss the evolving landscape of professional services in Cyprus.

During the discussion, George Economides highlighted the rapid changes in the industry due to continuous regulatory updates and unpredictable international economic and political factors. He also identified employee retention as a significant challenge and emphasized the need for firms to offer competitive salaries, opportunities and job satisfaction to retain talent.

The importance of attracting foreign clients and investors with innovative incentives was also stressed as well as adopting best practices from other EU jurisdictions and underscored the necessity for firms to embrace technology to meet the expectations of younger, tech-savvy clients and companies.

Addressing operational models, Economides noted the challenges of adapting hybrid and remote work arrangements. He advised that “improving internal efficiency and client service is essential for sustainable growth”.