01 May 2006
With an estimated value of £10 billion, the UK's consultancy sector is certainly an area of interest for high-flyers in 2006. The hard times witnessed by consultancies just a few years ago seem something of a distant memory, as drivers such as regulatory changes, an increase in M&A activity and the impact of heightened global security, have meant that once again consulting services are in high demand.
Consultancies, both strategy and management, have responded to this surge by reigniting recruitment efforts. Increasing headcount has become top priority for Partners of the UK's leading consultancies. A recognisable difference from previous recruitment initiatives has been the emphasis placed on hiring those with specialist expertise. Furthermore, consultancies are now demanding that individuals possess not only the strategic problem-solving capability but also the implementation skill set to deliver tangible results to a client's business.
In addition to attracting new talent, high on the executive agenda is the issue of retaining existing talent. The bouyancy of the sector has become increasingly apparent and movement between consultancies is commonplace as individuals chase the prospect of higher packages. Consultants are enjoying a return to the larger salaries once synonymous with the industry and consultancy is fast becoming one of the more lucrative of professions.
BYT have reported an increase in both the number of consulting clients as well as the number of candidates seeking to move into consultancy. The pool of potential candidates has widened as those from industry and banking are increasingly of interest in addition to those from other professional services firms.
< back to 2006 news