Business and Management Consultancy as an industry is not unlike any other industry – it is constantly evolving.
The industry historically was seen as an option or indeed necessity for large companies with big budgets. Thankfully these days the employment of outside consultants is common place for most SME’s.
One the current trends in the world of consultancy is that of increased specialisation.
Just like the businesses that they support cannot have all the expertise in-house required to be best in class – Consultancy Businesses also recognize that there more smart people outside their organisations than within it. Thus we are now seeing consultants now becoming ‘partners’ with client companies who trust them to find the right people with the right skills at the right time for the client.
Current trends suggest that In the future – Consultancy firms will have to be very large to be able to have enough scale to maintain expertise across many domains or they will become niche players providing a Specialist Service.
With the proliferation of contract/freelance workers – it is estimated that by 2020 more than 40% of the American workforce ( 60 million people no less) will be independent workers.
There are now more ways to work remotely than ever before, from devices, apps, and other personal technology that lets us communicate with one another from virtually everywhere. But there’s another kind of technology that plays an arguably bigger role—platforms designed to match companies with talent.
The rise of co-working spaces in top urban centers is changing that, offering freelancers unprecedented support and resources.
This proliferation of free lancers providing ‘consultancy’ services will make the landscape more competitive – and harder for companies to decide who to choose- but the ‘Specialists’ will always have the advantage.