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Dressed up and nowhere to go? Be a consultant ...

Document Cited in Related
Vincent
AuthorRayden, Allan
PositionBrief Article

Every year organisations reorganise and thousands of employees have to reconsider their careers. Some have a choice; most don't. After redundancies are announced, the first response is shock and disbelief. Then people start to ask what they can do instead.

The outlook is not necessarily bleak. Employees who have held senior management positions, or who possess specialist skills and experience, will find these are in demand if they decide to become a consultant. UK business is increasingly geared towards consultancy. One of the major lessons of downsizing in the 1980s was the recognition of the need to retain and manage core skills and competencies. Firms realised that competencies, and how they are managed, are key sources of competitive advantage.

Organisations often decide to buy in scarce or specialist skills for temporary projects. Consultants can also provide independent assessment of, and solutions for, a wide range of business problems. Whatever the driver, the market for consultancy work continues to grow.

More than 100,000 people across the world are full-time management consultants. They generate revenues of more than 12 billion [pounds sterling] a year in a highly competitive industry. For the past 15 years, the private consultancy sector has shown steady growth, often higher than GNP in the US and...

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