Human Capital Consulting Market Update Q2 2017
Welcome to the 2017 Q2 Market Update from Frazer Jones’ Human Capital Consulting practice – at the end of each quarter we bring you a summary of our insights into the current HC market.
In the initial weeks of Q2, we began to see an increase in demand and movement within the market. We have seen the greatest levels of recruitment activity at senior level within the mid-market and the global consultancies, in part, as a concluding outcome of the M&A activity prevalent here in the past 12 months as companies now come to cement their new structures.
Turning our attention to the current market; there has been a somewhat return to form as larger HR Transformation projects are once again given the green light, resulting in the increased demand for those with this skillset combined with experience of the broader, over-arching change management piece. Also very on topic is the activity inspired by the triggering of article 50, the recent snap election and the changing landscape of the future – we have begun to see the increase in demand for those with a workforce planning and management skillset.
This quarter also saw the annual Management Consulting Association awards where this year Frazer Jones’ Human Capital team hosted a table. It was a superb evening compered brilliantly by Fiona Bruce and, once again, congratulations to all the winners and highly commended recipients.
Much like the market last year, there is a growing need for consultants at all levels to be increasingly commercially minded and aware. We have indeed found a further increase in the need to display, not only sales abilities but also have eater, over-arching business acumen and understanding. Consequently; both Senior Managers and Directors are in high demand.
There has also been a continual requirement for those consultants with exposure to HR systems, in particular the implementation of SuccessFactors and Workday, as many organisations look to upgrade their systems from a legacy one to a cloud base. Similarly, there has been more movement in the Reward consulting space at the top end of the market as companies look as to how they can retain the best talent.
Likely due to their highly sought after skills in business development and account progression, those from Senior Manager level and above, within consulting, often deploy a particularly high level of scrutiny when considering potential roles and firms before a move. This is likely in part as a result of the further developing demand for a good culture where the organisations’ beliefs and values align with the individuals’. This is a critical level to attain buy in from consultants because of the introductions of targets and financially measured deliverables which can commonly result in a level of natural attrition to industry roles.
As we begin to move ahead to Q3, we are looking at a market that has a huge opportunity in the wake of the changing political and economic face of domestic and European politics. With new regulations on workforces almost certain, how will this impact the 2020 strategies of many firms? Will the hung parliament continue to create an environment that puts those with multiple capabilities and large networks as essential additions to practices?
There is an exciting time ahead for Human Capital and HR Consulting and we are looking forward to it.