Embracing Evolution: Why Generalist Consulting Firms Must Harness Specialist Talent or Risk Falling Behind
Increasing demand for specialist knowledge across a range of industries means that generalist consulting firms are having to adapt in order to compete. The solution of choice is an increase in the hiring of specialist talent. This calls for evolution not revolution. Firms that evolve successfully and first will be well placed to be at the front of the race for such talent.
Navigating Inflation: How Consulting Firms are Adapting Compensation Strategies
The persistent issue of hyperinflation and currency devaluation in many countries has led consulting companies to adopt new strategies to retain their talent and remain competitive.
HR Leaders: Navigating Competition with Internal Consulting Practices (ICPs)
Pulse Survey: Turkey Inflation and Compensation
Vencon Research’s 2022 Pulse Survey provides an insight into the effects of currency devaluation and inflationary pressures in Turkey. The survey results highlight the challenges faced by firms in Turkey in retaining their employees, and the measures they are taking to address the financial hardship faced by their employees.
Japanese Employees to Receive Salary Hike as Economy Recovers, but Consulting Industry Remains Cautious
In parallel to positive momentum in the country’s economic growth, forecasts indicate that Japan is expected to experience a long-needed boost in wages. However, Japanese consultants can only look forward to a marginal offsetting of the cost of living pressures experienced by the country.
Belgium's Consulting Industry Braces for Government-Enforced Salary Adjustments
Belgium’s consulting industry is facing severe challenges as a result of the government's policy of annually adjusting wages based on the inflation index.
How the Consulting Industry is Rethinking Costs in Response to Growth Slowdown
Consulting companies to re-examine their cost position, e.g. by re-examining their fixed costs, in particular evaluating the value brought by their non-client facing staff.
2023: Trends and Challenges in Management Consulting
19 trends and challenges in management consulting you need to be aware of for 2023.
Compensation & Pay Mix: Part 1 Pay Mix as the Key Differentiator
This article, Part 1 of 3 of an InSights series, demonstrates why the pay mix is often the key differentiator when it comes to recruitment and retention from the applicants’ perspective. Part 2 analyses the effect pay mix may have on the firm’s financials, especially with regards to personnel costs. Finally, Part 3 examines how pay mix may influence a firm’s culture and performance.