So is the gig economy disrupting the traditional consulting industry?
Yes, according to many experts. Back in 2013, Harvard Business Review published a fascinating article entitled “Consulting on the Cusp of Disruption” which predicted the disruption of established consultants as first smaller, then larger, clients start using alternatives to the big brands for all but “a core of critical work”.
In follow-up to this prediction, the Croixstone Consulting leadership team reviewed this week a newly-published article by Andrew Hill, Management Editor of the Financial Times, entitled “When McKinsey Met Uber: The Gig Economy Comes to Consulting” which spotlights the trend of business consultants setting out on their own as a higher-paid, and growing stratum of “gig consultants”.
We found the following factoids from the Financial Times article to be of particular interest:
- 31 percent of management consultants in the UK are self-employed.
- 20 percent of staff at the big consultancies leave every year.
- 59 percent of consultants made a deliberate choice to become independent (with top triggers including the desire for a career change, wanting more control over time and schedule, and wanting to work with clients in a different way).
Read the full article here (subscription may be required).