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It’s funny – no matter how well the rest of the consulting industry is doing, for some reason people don’t truly believe the market can be doing well again unless strategy consulting work is going through the roof.
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| Consulting-Times E-zine
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The type of work associated with the likes of McKinsey may only account for only a tenth of global consulting revenues, but if strategy firms are on their knees this seems to have a disproportionate impact on our perceptions of the health of the overall consulting industry.
Maybe this is because strategy consulting is the ultimate discretionary purchase and something that is only undertaken when consultants’ clients are really feeling cash-rich and upbeat about the economy. So spend on strategy work is a real barometer of how confident clients are feeling. Or maybe it’s because this is the type of consulting that candidates aspire to work on more than any other. Whatever the reason, the health of the whole consulting market is often judged on the strength of the strategy firms – so when strategy consulting sneezes, the whole industry catches a cold.
It’s for this reason that the last few months of recruitment activity have been particularly encouraging for all those interested in the wellbeing of the consulting sector. In both the key markets of the US and the UK the last months have seen a notable increase in recruitment activity at “the Bs and the Ms” – the likes of Booz Allen Hamilton and BCG; McKinsey, Monitor and Marakon (for some reason 80% of all strategy firms seem to start with a B or an M)
One of the most respected strategy firms in Europe is OC&C; Strategy Consultants – and their view of the market adds weight to the evidence that a strategy consulting rebound is now underway. Our conversations suggest 2005 is expected to be one of the most exciting periods in OC&C;’s history and Andy Guffick, UK Managing Director, commented:
“OC&C; have been at the forefront of the European strategy market for over 20 years and are dominant providers in several market domains. We are now seeing truly revenue-led growth from a wider blue chip set of clients than ever before.”
The firm, which has both a US and European presence, is planning to hire some 60 new recruits this year and forge greater collaboration between its European and US offices. That’s an aggressive target indeed and speaks volumes about the health of the strategy consulting market, as perceived by Partners within the industry.
Returning to the original question, the sheer volume of strategy recruiting now taking place points firmly to a very real rebound in strategic assignments. So at last we can lay to bury any suggestion that the consulting market is still some way off a full blown recovery.
Related info: Opportunities at OC&C; Strategy Consultants
OC&C;’s culture is an entrepreneurial combination of involvement in building the company, along with dedication for today's client issues. The organisation is non-hierarchical, has a strong team ethos, and OC&Cers; enjoy high personal responsibility. This provides the caché of a unique 'top of the tree' strategy firm, along with the chance to personally deliver clear thinking for OC&C; clients' most complex issues – from day one.
To find out more about opportunities with OC&C; Strategy Consultants simply click here now
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