Management consulting is changing its business model both to deliver to clients more durable outcomes for a digital age and counter the scalability constraints intrinsic to the traditional labor-intensive model. This change has implications for the skills future consultants need, the employee lifecycle for attracting and developing these skills, and how consultancies deploy them. But this change is not occurring in a vacuum. Labor markets are also in flux as a new generation with distinct values and preferences enters the professional workforce and the traditional consulting workhorses enter a new phase of their professional and personal lives. Coping with these implications will not stop, moreover, at the HR department. Consultancies will need to rethink their workforce strategies, engagement models, technology and other assets, and leadership.
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The focus has shifted from Big Data to Smart Data as companies realize the potential is in how you use the data, and not how much data you have. Technology advances are a key contributor to this realization. With artificial intelligence, sophisticated automation and the Internet of Things data can be used in ways not possible 18 months ago. These influences are also changing the demand for and delivery of consulting services. Clients are becoming more sophisticated in their consumption of consulting services – from how they define the problem, to how the services are provided. There is less of an appetite to spend 6 months developing a strategy. Clients want agility and to realize results quickly.
The latter half of 2016 had no shortage of momentous and unprecedented world events. Consultants and their clients navigated these events in rapid response mode to high frequency disruption for the remainder of 2016. Now, looking ahead to 2017, consultants have an opportunity to step back and take a broad view of the implications of some of the more major events, adjusting strategy and business models to best meet challenges in the shifting paradigm. Here from ALM Intelligence’s Erick Burchfield, Managing Director of Research, and our analyst team for this interactive webinar that will discuss some of the major anchor points of impact for consulting in 2017.