Six Insights and Strategies from HR Leaders in Consulting

HR in the consulting industry trends

By Cara Solorzano - Business Development

Stay on pulse with HR trends in the consulting industry as our advisors share the latest insights and strategies gleaned from engagements with firms worldwide.

1. Budget considerations

Many consulting firms are being cautious with their company spending and HR budgets are not immune to imposed constraints. Such budget considerations seem to affect small to mid-size consulting firms more than larger and global players.

2. Both consulting firms and their clients err on the side of caution

Consulting firms are cautious due to a general sense of insecurity surrounding market stability, compounded by clients hesitant to embark on consulting projects, often delaying confirmation and constraining project size and scope in the name of “cost saving”.

3. Q1 offers promising talent in 2024

HR leaders tell us 2024 is offering up a rich pool of consulting talent in Q1. Hirers are excited about having options, something denied them for the past few years as outstanding talent seemed rare to find.

4. Candidate green demands

New hires are very focused on company sustainability and are questioning not only which “green” Employee Benefits a firm may offer, but also the company’s eco-friendly operating policies.

5. Office presence, on occasion

Many firms have cut their physical offices (one client cut 70% of physical locations) and are developing new strategies to maintain team spirit and social interaction. One has endeavored to build “chit chat” culture into video comms: “setting up calls can be daunting, so we are starting to call employees outside of fixed meeting times to simply say hello and have a cup of coffee, like we would in the office”. Another firm that sees a majority of work done remotely has recognized that many younger employees are still keen to come into the office due to their living situations (shared flats or smaller apartments), or simply the desire for more “in-person” connection, and has set up a system allowing consultants to book the times they intend to spend in the office, where space may otherwise be limited.

6. No office, no oversight?

Many consulting firms are concerned about employee output, especially in the context of increased remote work. One client informed us that managers have created a due diligence system to account for employees’ timelines. If an employee is falling behind their quotas they set up one-on-ones and set appointments to review both prioritization and strategy on accomplishing both goals and tasks.

As a trusted HR partner for the consulting industry, Vencon Research is here to help you unlock the full potential of your team. Contact us to learn more about how we can support your HR needs and drive success for your business.