From our unique vantage point as a firm that does extensive recruiting for the Consulting industry, at Ivy Exec, we see a number of hiring trends in the consulting sector that can help job seekers tap into new opportunities.
According to Plunkett Research, Ltd., a market research and economic analysis firm, corporate profits have grown dramatically since late 2009 and into early 2012, while government budgets in the U.S. and much of Europe, have been under severe pressure with lower tax revenues. These trends have created opportunities for consulting companies worldwide. Plunkett Research estimates that global consulting industry revenues (including HR, IT, strategy, operations management and business advisory services) will be about $391 billion in 2012 up from $366 billion in 2011.
From a jobs and hiring perspective, we see particular areas of opportunity in these verticals:
- Health Care Consulting: In the U.S., government legislation – the 2010 Health Care Act and the 2009 American Recovery and Reinvestment Act — has increased pressure on health care providers to comply with new regulations, operate with greater efficiencies and control costs. This legislation has created opportunities for consulting firms to help companies cope with increased government oversight and operate with greater efficiency. For example, health care providers must streamline, simplify and digitize their health care records by 2015. The magnitude of the undertaking is enormous. A principal at a major consultancy serving the healthcare vertical told us that the market opportunity is so vast right now in health care that …”all you have to do is show up…” to get the engagement.
- Environmental (Green) Consulting: As the environment changes so does the field of environmental consulting. In 2011, IBISWorld – a U.S. industry research and analysis company— reported that environmental consulting was a $19.1 billion industry and is expected to grow 9.4% by 2015. This growth reflects increases in resource demand, government regulations and technological advances. From our vantage point, we are currently seeing a sharp increase in the number of search assignments for this particular consulting sector.
- IT Consulting: IT is another consulting sector where there is great need for technical expertise. Technology is a core business function that has been under-invested in since 2007/2008 when budgets were slashed to weather the recession. In addition to implementing changes mandated by new legislation, many firms are playing catch up in IT, addressing multiple years of under-investment. This has generated strong demand for 3rd party tech talent to staff IT overhaul/tune up efforts, and represents an attractive opportunity for consulting firms and job seekers alike.
Consulting companies are becoming more flexible in the way they structure work options to attract top talent. Smaller companies in particular are managing their businesses in a more decentralized manner and are becoming more family friendly — offering more regionally focused assignments with less travel. This trend is technology driven and enabled.
So if you are looking for a job in Consulting, consider these sectors & trends and happy job hunting!