Growth in the UK management consulting sector during 2012 and 2013 has rapidly outpaced the wider economy as companies turn to consultants to help them recover and boost growth.
The Management Consultancies Association (MCA) Industry Insight Centre found that most management consulting firms are optimistic about the economy, the health of consulting, and prospects for the future.
Whilst the consulting sector has helped financial services restructure, and adapt to new regulations, it has also diversified into manufacturing, infrastructure and digital, supporting key pillars of growth and helping ‘rebalance’ the economy.
Skills in demand
The digital economy in particular is identified as driving work for consultants because digital dynamics are creating the momentum to make changes urgently – and relatively cheaply. Many consulting firms are reporting that there is a skills shortage with too few graduates able to programme and write code, impacting both digital industries and digital consultancies.
As a response to the skills shortage, consultancy firms have also invested heavily in their talent. David Freeman, Huthwaite International, said: ‘We’ve invested lots of time and money training our consultants. They’re precious assets with lots of knowledge and wisdom in their heads. So we let none of them go during the recession.’
Rise in public sector work
Demand for consultants in the public sector is also starting to rise, following severe contractions in recent years. British commerce, industry and the financial sectors, with their array of highly paid talent, find that in times of change they need consulting expertise, and the public sector needs this expertise too. If you like the sound of joining an expanding profession that offers good career development, apply for consultancy graduate jobs or browse our directory of management consulting firms.