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National and Global, United States

Friday, October 2, 2009

More Bad News For Consulting Firms

According to a recent article in Consulting Magazine, half of all consultants plan to leave their current firm within the next four years, according to a survey of nearly 10,000 consultants conducted by Consulting Magazine. And, according to the same poll, three out of four consultants say that when they leave their current employer, they do not plan to work for another consultancy.

Given the anticipated exodus of consulting talent from consulting firms into industry, the more successful firms may be those that can reverse that talent drain by attracting professionals out of industry and into consulting.

So, in addition to serious business development and internal strategic planning issues, today's consultancies face the further challenge of professionals who just don't want to do it anymore. Serious challenges for a professional industry that has seen its 'bumps and bruises' in this economic malaise.

I'd like to know how they will handle it. Without 'reaching out' for the right people, challenging I would surmise.

NOTE: Updated Client Profiles on Linkedin: Slideshare ppt.

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