Office Politics: How will independent consulting change post-Covid?
The coronavirus crisis has permanently changed the way we work, showing that remote working is now an increasingly viable solution. As the world learns to adapt to a post-covid working world independent consultants are well placed to support this.
When the gig economy is mentioned, Uber and Deliveroo are often the first names that come to mind, companies transforming the B2C service sectors. But it has been equally transformative to the professional service sector. As more and more consultants see the benefits of self-employment and companies seek more flexible and agile resources, the UK’s workforce is moving away from permanent employment. Covid-19 has expedited this transition from traditional working models as individuals seek out innovative and flexible ways of working.
What are the benefits of being an independent consultant?
Independent consulting has been a growing area of professional services over the last decade. The ONS state that independents now make up 55,000 of the 175,000 strategy and management consultants in the UK, and they provide 20% of the £9.7bn spent on consulting in the UK.
COMATCH’s UK pool of independent consultants has grown 10% since the start of the crisis, as professionals use this as an opportunity to redefine their career. The main reason for going independent is greater freedom; being able to choose which projects you take on, where and when you work, and how much you charge. A survey of independent consultants in 2017 found that 91% were happier after going independent; a recent post-Covid survey found similar results.
As flexible working arrangements and working from home become more and more normalised you can expect the freelance consulting sector to grow rapidly.
What are the benefits to companies?
With global consulting spend set to drop 18% this year, traditional consulting firms will suffer as companies have reduced budgets to bring in teams of consultants. This will present an opportunity for independents as companies look to build internal consulting capabilities, using freelancers to supplement their teams on an ad hoc basis.
Using freelancers on a project by project basis is more flexible than bringing on a permanent employee, especially in times of economic uncertainty. It allows access to quality talent, at the right time. Embedding a consultant within an organisation also provides greater learning opportunities for the company’s employees. This knowledge transfer will be key for companies looking to create in-house consulting teams.
The acceptance of remote working also means that companies can use platforms to access talent globally. With travel restricted you don’t need a consultant at the client site so you can focus on finding the most qualified profile. I’ve had numerous conversations lately around ‘borderless delivery’ teams that come together, irrespective of location, to deliver work. In the future projects could be handled by consultants working remotely across the continent, reducing travel for the consultant and cost for the client.
How will Covid change consulting?
While traditional consulting firms will always form a large part of the professional services sector, Covid will open up new opportunities for smaller, more agile players. The move to working from home has given professionals new independence that they will be reluctant to lose. This drive for independence will massively grow the freelance consulting sector, permanently changing the global consulting landscape.