Consulting making a comeback?
Top Consultant says the following:
Strategic consulting looks set to make a comeback on both sides of the Atlantic, according to the latest research. In the US, a new report* shows there is an increased appetite amongst corporate executives for strategic advice. Surveying consulting clients, Kennedy Information found that 87% envisage engaging strategic advisors during the next 2 years – suggesting the hay days may soon be back for the likes of McKinsey, BCG and BAH. This ties in with data suggesting a US economic recovery is underway and that a refocusing on growth strategies is likely to occur amongst big corporate clients.
In the UK a similar story is emerging, with the latest economic data suggesting the UK economy is growing more resiliently than previously thought – and a continued upturn expected over the next 12 months.
The renewed interest in recruiting experienced strategy consultants is the most obvious indicator that Partners expect stronger strategy consulting growth to materialise in 2004. Several of the leading strategy firms are actively recruiting once again, though mostly through discreet channels.
Perhaps the most telling indicator for the sector will become clear during the next 6 weeks, when the strategy consultancies begin their drives to entice and recruit the top talent amongst university finalists. These last 2 years, the presence of many firms at Milkround recruiting events has been a purely token gesture to maintain brand awareness on campus. If October sees a renewed gusto in their attempts to woo the brightest of the bright then we will feel confident that better times are here to stay.