Q1 Human Capital Consulting Market Update
Working specifically across the human capital market, our human capital consulting team are privy to the trends, insights and sentiment of our market so we wanted to share our insights for the previous quarter with you.
As with many other businesses, there was a slightly slow start to the year coming out of Christmas. By February the market was well back on track and a very busy March seeing demand across our range of clients spanning global management consultancies/big 4, mid-market players and boutique consultancies.
The beginning of the year showed demand across the entire people and change agenda from HR transformation, organisational change, talent and leadership to organisational design & development. However in the last month we have seen the strongest demand across talent/leadership development and assessment.
The big consulting houses are actively trying to build capability in their people & change/human capital teams, with all announcing ambitious strategic 2020 plans.
2014/2015 saw a lot of M&A activity across the mid-market consultancies, most notably Korn Ferry/Hay Group and Saville Consulting/Towers Watson/Willis, shifting the tiers of the consulting market, subsequently increasing attrition.
Partnerships between big 4 businesses and niche boutique consultancies have become more prevalent also. Last year we saw the formal acquisition of Kaisen by Deloitte, Lane 4 has recently partnered with KPMG, EY have partnered with DDI in the US with a plan for the UK to follow. Will these partnerships follow the same path as the Kaisen/Deloitte acquisition? Time will tell.
Also of note this is a continued interest in professionals relocating to the UK with increased volumes of interest registered, particularly from South America, Iberia, Australia and the UAE.
The second quarter of the year looks set to sustain high demand across the human capital/people & change arena. If you have any thoughts or feedback, do share it with us or, if you are considering opportunities and want to have a chat about the market feel free to get in touch.