Building Deloitte Economics, a Global Strategic Priority
Majbritt Skov is 39 years old and a passionate economist supporting clients in both the private and public sector in optimising value for money. She is married to Frank and mother to the three-year-old Kristian, who will get a brother or sister in the beginning of 2021. She prefers to start the day with a run or in the gym, so body and brain are ready for challenges and opportunities ahead.
With her eagerness to make a difference and her great experience within the field, Majbritt is also the one in charge of Deloitte Economics in Denmark, a strategic priority for Deloitte. Below Majbritt shares some insights on how it has been for her to lead and build a new business unit from the bottom.
What has been the most challenging in starting a new business unit?
Deloitte Economics was only one month old when the corona pandemic hit Europe and Denmark, and it became clear that the 100-day plan for developing Deloitte Economics required some adjustments and postponement of certain activities. Our clients’ focus and demand for economic advisory changed almost overnight, recruitment was temporarily paused, and the access to the market and client dialogues became more difficult – at least in the beginning of the pandemic, before we all got used to virtual meetings.
To develop a new business unit in a highly uncertain business environment with limited resources has been very challenging but has also demonstrated our ability to stand together as an organisation and rapidly react and adapt to a new reality and respond to the changed needs of our clients. For Deloitte Economics, the corona pandemic brought some unforeseen opportunities to demonstrate the value of economic services in times of uncertainty. For instance, our weekly update on the financial and economic situation in Denmark and globally, the Coronavirus Impact Monitor, brought economic insight to clients and colleagues and at the same time marketed our capabilities.
Also, the pandemic strengthened the ties between Deloitte’s leading economists from all over the world. The benefits from cross-country knowledge sharing were obvious, and we took a giant leap in the integration of our Global Economics Advisory Practice, which is now much more united than before the crisis.
What achievements are you most proud of?
I have been privileged to manage several economic analyses, which have formed the foundation of important decisions in our society. The characteristics of these projects have been a solid economic approach combined with in-depth industry insight and a multidisciplinary team. It makes me proud when we as one by combining our cross-function capabilities and knowledge can support our clients in making the optimal decisions from a financial, societal as well as an environmental perspective.
With Deloitte Economics and our unit’s strategic partnership agreement with Kraka Advisory, I believe that we have created a strong platform for acting as economic advisers in critical decision-making processes in both the public and the private sector and support the development towards a more sustainable future. Also, a strong macro-economic unit can create value added to core services in all service areas.
What are the next steps?
What is Deloitte Economics looking into?
We have a strong aspiration: within a foreseeable future Deloitte Economics is the leading economic advisory practice in Denmark. This requires first and foremost a strong team of economists. We are experiencing an increasing demand for our services, and I am looking forward to welcoming two new colleagues, one of whom brings experience from Deloitte in Australia.
What do you love the most about your job?
My job allows me to live out my passion as an economist: to support cost-effective decisions in both the public and private sector for the benefit of our clients and society. Economics is a matter of prioritisation of scarce resources. We cannot afford everything in our society. Even though it can be tough, we must prioritise. As an economic adviser I can support that taxpayers’ money or shareholders’ investments etc. are spent in a way that maximises value for money. This is very satisfying.
In addition, I find it very enriching to be part of top professional service firm, which sets the bar high in all aspects of doing business, prioritises talent development, demands strong leadership skills that are based on some fundamental core values that I truly can support.