Corporate executives could terminate one in nine professional service relationships - including money management, investment consulting and corporate accounting - in the next 12 months because of dissatisfaction with the work, according to a survey by Ross McManus, a business analysis firm. That rate would be three or four times the typical termination rate, said Steven R. Banis, principal. Senior executives rate overall satisfaction with their professional service providers and consultants as only a C+.
The survey doesn't break out results by type of relationship, but Mr. Banis said senior executive dissatisfaction was pretty evenly distributed across all consultants and service providers.
The firm surveyed 1,220 senior executives at 220 major companies.