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Consulting

Recruiting Consultants, Why It’s A Whole New Game

Recruiting Consultants, Why It’s A Whole New Game

October 5, 2017
Acquiring top talent is critical for the consulting industry. In fact, the traditional consulting business model relies on firms being able to market themselves as warehouses of top talent. As firms become more digital, putting thought into recruiting consultants is only becoming more essential. The jobs that businesses consider critical are starting to change. Data mining, for example, is becoming more important in virtually every industry, and consulting is no exception. In order to build the workforces they need for the future, therefore, firms cannot afford to wait. They need to quickly fill the talent gaps they identify based on the change that digitization brings. The Rise of Millennials The millennial generation (those born between circa. 1981-1996) is entering the workforce in rising numbers. In 2015, millennials surpassed Generation X as the most represented generation in the workforce, and by 2020 they are predicted to be nearly half. It [...]
Digital Transformation in Consulting – Early Findings

Digital Transformation in Consulting – Early Findings

September 28, 2017
Last year, we discussed the prevalence of digital transformation buzz in the market. The term itself was a top performer on Google Trends in 2016 and now into 2017. Consultancies were quick to move on the opportunities the buzz created. Source Global Research estimates the digital transformation consulting market at over $23B. This is nearly 20% of all consulting services offered. In addition, our interview found 78% of respondents are offering digital transformation services, up from 74% in 2016. This could be an early indicator of digital transformation in consulting. This year we’re determined to learn if there is substance behind the buzz. Are consulting firms adopting the digital approach they espouse to clients? Digital Matters With a few years of digital transformation experiences under our collective belts, we’ve have been able to assess results. HBR found that digital leaders outperform laggards significantly. What separated leaders was their [...]
How Digital Transformation Will Change Consulting Business Models

How Digital Transformation Will Change Consulting Business Models

September 19, 2017
Four years ago, the Harvard Business Review published an article that predicted the disruption of the consulting industry as a result of the evolving digital economy. Over the past few years, we’ve seen that disruption start to develop. Consultants are adding digital service offerings to their portfolios and adopting digital tools to enhance their capabilities. They are testing new consulting business models. Adoption will inevitably be slow in an industry that has not changed much since it’s inception. However, firms are now seriously rethinking the current billable hour model. Many are also struggling to keep up with talent attrition. Soren Kaplan does an excellent job of laying out the challenges firms have. Their model is largely at odds with how their clients want to work. Customers in the digital economy are increasingly demanding value from day one and customized solutions unique to their specific problems. At the same time, [...]
The Case For A Digital Maturity Assessment

The Case For A Digital Maturity Assessment

August 22, 2017
For some companies, the digital transformation journey has only begun, while others have been working to go digital for years. In fact, because digital transformation can be a long process without a clear end in sight, it helps to think of the process as less of a one-time transformation and more of a continuous digital maturation. Whether a business is assessing its own maturity or consultants are incorporating assessments into their suite of services, it’s critical to run regular a digital maturity assessment to pinpoint where a company is in the digital transformation journey. Increasingly, it’s consultants that are driving the assessment process as businesses fill gaps in their analytics capabilities with outside expertise. Regardless, it is clear there is a significant appetite for data to inform digital maturity and the digital journey.   Here are six specific reasons why companies on the road to digital transformation and their [...]
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