The Predictive Index Uncovers That Consultants Feel Most Challenged
to Win New Business and Build their Consulting Networks
BOSTON–(BUSINESS WIRE)–#CHRO–The 2019 Annual Consultant Report by The
Predictive Index (PI)—leader in talent optimization—finds no two
consulting offerings are the same, but uncovers the main challenge
keeping consultants up a night: measuring and proving immediate ROI.
Clients without a clear understanding of the potential value are less
likely to hire or retain consulting services, making future consulting
growth challenging.
“The findings of the Annual Consultant Report echo what we hear from our
network of over 200 talent optimization firms: everyone wants to grow
their business, and pairing strategy and people consulting are essential
to driving business success,” said Rabih Shanshiry, Vice President of
Partner Success for The Predictive Index. “To be successful, our
partner consultants find that grounding proposals with measurable
outcomes ensures clients feel confident they will see ROI—which
increases growth and retention.”
Key Findings
1. Strategy and people consulting are king. Nearly 75% of
respondents offer business strategy consulting, with people strategy
consulting coming in at a close second at just over 60%.
2. Consultants spend over 50% of their time on business development,
which cuts down on time spent interfacing with clients. On the
high end, consultants spend 80% of their time focused on winning new
business, with the low end of business development at 30%.
3. The biggest growth blocker for consultants is measuring and
proving ROI to clients. More than a quarter of respondents believe
the main reason why clients choose not to hire consulting services is
that ROI is too hard to measure.
4. Most consultants agree they can improve upon winning new business
and building their networks. They are confident in their abilities
and expertise, but nearly a third still feel challenged to win new
business and build their consulting networks.
5. Edging out the competition and increasing revenue are the
primary objectives. Nearly one third of consultants agreed that
improving their competitive advantage in the market was a priority, with
another third focused on increasing revenue growth.
Research Methodology
In April 2019, The Predictive Index
conducted a survey of 152 consulting firm owners, senior managers,
middle managers, and individual contributors.
A copy of the Annual
Consulting Report 2019, including charts, is available at: https://go1.predictiveindex.com/l/492541/2019-05-29/2xx3rg
About The Predictive Index
The Predictive Index (PI) is an
award-winning talent optimization platform that aligns business strategy
with people strategy for optimal business results. Sixty years of proven
science, software, and a robust curriculum of insightful management
workshops make PI the solution for any company looking to design great
teams and culture, make objective hiring decisions, and inspire
greatness in their people anywhere in the world. More than 7,000 clients
use PI—including Nissan, Citizens Bank, DocuSign, Subway, 47 Brand, Blue
Cross Blue Shield, and Omni Hotels—across 142+ countries. Learn more at http://www.predictiveindex.com/.
Contacts
Jennifer Moebius
The Predictive Index
1-800-832-8884
[email protected]
