In the dynamic landscape of consultancy, innovation and adaptability are essential. As such, tapping into the external workforce is a key strategy.
The consultancy sector, boasting an impressive £18.6bn(1) in revenue across the UK, has traditionally aligned with global giants, delivering substantial returns on investment and business impact. However, the evolving nature of project demands has highlighted a stretch in workforce capacity and a shortfall in skillsets.
Interestingly, 85%(2) of the global consulting sector is made up of Independent/freelance Consultants, and significant revenues come from 1 person consultancies who offer niche skills and possess specialist networks.
Forward-thinking boutique or challenger consultancy owners have identified this untapped potential of Independent Consultants and freelance consultants who can support capacity levels for existing projects or for winning new business projects that require niche skillsets.
Here's why should you be tapping into the ‘external workforce’ and integrating Independent Consultants into your consultancy firm:
Workload Relief and Expertise Integration
Independent Consultants serve as a dynamic resource to alleviate internal teams' workload, seamlessly integrating into your business. With the right integration, they can function as an extended arm of your team, delivering world-class projects to clients.
Global Network Access
By tapping into the extensive network of international Independent Consultants, consultancy leaders can explore new business territories and provide support for projects in previously inaccessible international geographies.
Flexible Talent Pool
Developing a talent pool of integrated Independent Associate Consultants empowers consultancy leaders to scale resources up or down based on workload fluctuations, ensuring quick and efficient responses to client demands.
Access to Niche Skillsets
Utilising Independent Consultants grants access to non-core skillsets, adding extra value to projects without increasing overhead costs. Fractional projects provide a win-win solution, catering to the preferences of both consultants and consultancy firms.
Financial Advantages
Deploying Independent Consultants offers significant financial gains, reducing overheads and increasing flexibility. Higher utilisation rates lead to increased margins, even when sales rates remain consistent. Many of our clients charge more due to the non-core skillsets being deployed.
Competitive Edge
Independent Consultants enable boutique and challenger firms to compete with industry giants by offering experienced expertise, surpassing the impact of deploying less-experienced teams.
Risk Mitigation and Onboarding Support
The 'try before you buy' model with Independent Consultants de-risks engagements for both consultancy and consultant. It also aids in the seamless onboarding of new consultants, allowing them to hit the ground running with new and existing clients/projects.
Resilience to Shocks
The ability to ramp down resources offers consultancies resilience in the face of unforeseen events like pandemics, economic challenges, or global conflicts. A flexible workforce means adapting without the burden of fixed overhead salaries.
Why Veriex?
The external workforce can be a hugely beneficial resource for Consultancy firms to tap into, offering excellent skills, flexibility, and the chance to protect key business metrics for long-term success. Moreover, the opportunities that the external Independent Consultant workforce offers internationally will open the door for consulting leaders to explore how their firms can take advantage.
To discover how Veriex collaborates with consultancy firms to source and deploy Independent Consultants globally, visit our website at www.veriex.co.uk or email us at info@veriex.co.uk.
David Curtis
Managing Director
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