Consulting Industry – Page 13

Don’t Be a LinkedIn Dinosaur

LinkedIn is a powerful tool for today’s consulting professional. That said, the world’s most popular social networking site for professionals is evolving and transforming at lightning speed. Here are four of LinkedIn’s latest features to keep you in the know…and stop you from becoming a LinkedIn dinosaur!

LinkedIn Search – has been updated with redesigned functionality and features to help deliver more relevant results.
“Connections of” Filter – use your extended network to search connections of your connections through the Connections of filter and find people who work in a specific industry, location or company.
LinkedIn Video – pictures tell a 1,000 words. Learn how to use LinkedIn Video to share your experience and perspectives.
Active Status – you can use LinkedIn’s “green dot” feature to learn who in your network is online and potentially available to communicate with you.

Blockchain Simplified

Croixstone‘s CXO Patti Weber recently participated in Skookum‘s largest Tech Talks to date. Josh Miller, Senior Software Engineer at Skookum, provided insight into blockchain technology and the uses beyond Bitcoin and cryptocurrency. The original blockchain was described in a 2008 bitcoin paper by Satashi Nakamoto, just 2 months after the collapse of Lehman Brothers in 2008. What makes blockchain so attractive is that it provides a level of trust that is interwoven in business transactions. People can now make transactions without middlemen which translates to greater control of funds and lower fees.

So, what is a blockchain? A blockchain is a digital encrypted ledger in which transactions are recorded chronologically and publicly. Like the name indicates, a blockchain is a chain of blocks containing information. Each block contains data, the hash (i.e., digital fingerprint that uniquely identifies the block and all the contents), and the hash of the previous block. When a block is created, a copy of the block is distributed on a peer-to-peer (P2P) network. Each member of the P2P network gets a copy of the block, and a consensus is obtained to ensure that the chain has not been tampered with.

The way the blocks are chained together using hashes, along with a “proof of work” mechanism and distribution through a P2P network, makes blockchains secure and trustworthy. The term immutability – its resistance to tampering or other changes – is often used when describing blockchain.

Blockchains eliminate the need for middlemen (e.g., banks) making it more efficient than legacy systems. They exist within communities, and participants that operate within an industry can all operate on the same chain, and therefore, have a copy of the distributed ledger.

Applications of Blockchain

As a result of the tamper-proof and hack-proof nature of blockchain, it is one of the most promising technologies with far-reaching applications. Here are just a few of the industries that are/will be impacted..

For a more detailed explanation of blockchain, see CNET’s recent article titled Blockchain explained: It builds trust when you need it most.

For more information about industries impacted, check out: Banking Is Only The Beginning: 36 Big Industries Blockchain Could Transform

Consulting Industry Outlook 2018

It’s a good time to be in the consulting world! According to the recently released Consulting Magazine’s 2018 Executive Outlook report, the theme for the consulting industry this year is “Let the Good Times Roll.”

The positive economic momentum + recent corporate tax cuts equal an “upbeat and bullish forecast” for the consulting industry. As result, the industry remains strong and firms are in the “midst of a hiring frenzy” to get the work done. Below is a high-level overview of the results in the report:

97% of leading consulting firms surveyed experienced real revenue growth over the last 12 months.
98% of executives are forecasting growth in 2018, and 94% are saying that growth will exceed 6%.
95% of firm leaders anticipate net profits will improve, and 62% of the firms predict net profits will be up more than 10% in 2018.

The survey was conducted in the latter part of 2017 with more than 130 Managing Directors, Partners and Vice Presidents participating. To read the full 2018 Executive Outlook, click here.

2018: The Year of Professional Courage

With months of revelations about sexual harassment and abuse of men and women across industries, we encourage you to make 2018 the year of professional courage. Guest blogger, Tony Armeni, shares his insights below.

What are we to think of all the news about workplace behavior, and particularly sexual harassment, in the media of late?

I am sure you have read and heard every possible angle about the individuals, situations, causes, explanations, and even excuses. Who knew? When did they know? How could this be?

The one thing I have heard little about is accountability. Do we really need more training and clarifications from attorneys about the definition of sexual harassment? Do we need more value statements about integrity and transparency? The answer is NO! It is time for human resource leaders, and their executive peers, to step up and start holding their organizations and individuals in them accountable for behaviors that are in clear violation of the policies and training that they have already established. Enough about all the grey areas, misinterpretations, consensual this and that and all the other excuses. We know what this looks and sounds like. We know what the right thing to do is. Now we need to start doing it.

No more separating the offender from the accuser, rationalizing how you can’t afford to lose the star performer, implementing mutual separation agreements for the accuser and so forth. Let’s eradicate the innuendo and foul language, jokes, inappropriate remarks and other behaviors that create a culture of tolerance and acceptance.

It is important to make sure our policies on workplace behavior and sexual harassment are well communicated and that we have trained everyone in our organizations. We must take every complaint seriously and investigate thoroughly. Once all the facts are known, we must do the right thing, regardless of who the violator might be.

Merriam-Webster defines courage as the mental or moral strength to venture, persevere, and withstand danger, fear or difficulty. Get an early start on your new year’s resolutions and begin now to demonstrate professional courage and start leading your organization’s accountability crusade. Let’s make 2018 the year of professional courage.

About Our Guest Blogger

Tony Armeni, MBA, SPHR and SCP, is a senior consultant in Croixstone’s human capital practice. With extensive experience in diverse industries, cultures and environments (including Fortune 200 companies), Tony has delivered high-impact results to support the business objectives, change initiatives and leadership development activities at companies including SCOR, Joerns Healthcare, Sompo Japan, CSX World Terminals and more. Tony offers deep expertise in helping organizations navigate through sexual harassment complaints, investigations and training.

Are you ready to make 2018 the year of professional courage? For a confidential discussion, contact Mark Weber, Managing Partner, at (980) 263-0234 or by email at mweber@www.croixstone.consulting

Freelancing in America

Did you know that 36% of the U.S. workforce are freelance workers? This equates to 57.3 million workers earning an estimated $1.4 trillion annually. By 2027, the majority of the U.S. workforce will freelance, according to findings in the “Freelancing in America Study: 2017” released in mid-October. The study conducted by Upwork and Freelancers Union defined freelancers as “individuals who have engaged in supplemental, temporary, project- or contract-based work.”

To learn more about freelancing in America, check out the following:

Click here for a complete guide from entrepreneur.com to the highest-paying jobs, companies, freelance jobs and more.

Prepare for the future as a freelancer by following these 3 tips here.

Want to quit your job to go freelance? Here is a list of 10 skills that are in hot demand now.

Are we all fated to become “solopreneurs”? Read here about the four key criteria needed to stay competitive and successful as freelancers.

Gaining a Competitive Advantage Through Predictive Analytics

Wouldn’t it be nice to be able to predict the future? According to a recent Harvard Business Review webinar, companies, governments, law enforcement agencies, hospitals, and universities are using the power of big data, new technologies, and analytics to predict whether we’re going to “click, buy, lie, or die.”

So, what is the difference between forecasting and predictive analytics? Forecasting provides an estimate to anticipate trends for a large group over time, while predictive analytics goes much further and is focused on predicting the behavior of a single individual. For example, forecasting might provide an estimate of the total sales for a particular product line next quarter, while predictive analytics tells which customer will likely buy the product. Major industries such as Banking and Finance, Retail, Healthcare, Manufacturing, Oil and Gas Utilities, Government, E-commerce and Travel and Hospitality embrace predictive analytics to boost sales, improve operations, reduce risks, and gain a competitive advantage.

What is Predictive Analytics? Learn the about the process, applications, software and more here.

Click here to learn how to put predictive analytics to work from Eric Siegel, author of Predictive Analytics.

Read how to convert analytics into action here.

Trends Shaping the Consulting Industry

In the 2017 Management Consulting Outlook report prepared by Greentarget, a strategic public relations firm focused exclusively on business-to-business organizations, the global management consulting market has been growing revenue approximately 4 percent annually over the past few years. As the most mature market, the U.S. market grew 7.7 percent in 2015 to reach $54.7 billion, up from $50.8 billion in 2014. The global management consulting industry is now delivering an estimated $150 billion in revenue, and the growth trend is expected to continue, with the U.S. accounting for nearly half (44 percent) of the global market.

We at Croixstone know it is important to keep abreast of the many forces and trends shaping the consulting industry. Demand for change as result of disruptive technologies and competition from new market competitors continues to drive investment in consulting. What else is new in the consulting industry?

Learn more about the who’s who of the consulting world in 2017 here.

What makes a great consultant? Here are 10 attributes required for long term success as a consultant.

Read here about five consulting technology trends in 2017 that are more than buzzwords.

How Microsoft’s Acquisition of LinkedIn Affects You!

Last year, Microsoft purchased LinkedIn, the world’s largest networking and job search platform, for $26 billion. LinkedIn now has more than 500 million members, and its job platform hit a record 10 million jobs posted. Why did Microsoft buy LinkedIn? LinkedIn provides Microsoft with vast data to fuel its machine learning and business intelligence strategies.

Learn about the benefits of the Microsoft/LinkedIn acquisition here.

Coming soon, a new version of LinkIn’s app that will match you up with a mentor…read about it here.

Dive deeper into LinkedIn’s newer features here.

Disruption in the Consulting Industry

A couple of years ago, a team of thought leaders put their minds together to study professional services, especially consulting and law, to understand how these industries are changing and why. Then they spoke extensively with more than 50 leaders of incumbent and emerging firms, their clients, and academics and researchers who study them.

So what did these thought leaders learn from this study and the interviews?

The same forces that disrupted so many businesses, from steel to publishing, are starting to reshape the world of consulting.

Learn more here.

Consulting Industry Leaders Forecast Robust Growth in 2017

So just what do 100 Managing Directors, Partners and Vice Presidents think about the state of the consulting industry?

According to the team at CONSULTING magazine, they are exceptionally positive about the prospects for growth in 2017 and maintain a “pedal to the metal” philosophy. The magazine has just published its annual “executive outlook” for the new year and the CROIXSTONE consulting team noted the following highlights with great interest.

Consulting industry leaders are “especially giddy about the forecasts for the year ahead” with some having reported sales growth above 20% in 2016.
The consulting industry is among the first to see signs of an economic slowdown and no such signs are being seen.
65% of consulting industry leaders experienced real revenue growth above 10% in 2016.
96% of leaders project that net profits will increase in 2017, with 57% forecasting that net profits will be up more than 10% in 2017.

Read the full article here.

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