The consulting market in Transport & Infrastructure has been going through significant changes. Many companies are looking to capitalise on a growing market for management consultancy services.
Technical consultancies are diversifying their service offering into business advisory. Management consultants are investing in their Transport & Infrastructure practices. Contractors such as Costain are growing their consultancy arm. Client organisations are developing spin-off consultancy businesses including TfL Consulting and Crossrail International. Everyone seems to want to grow revenue in the space.
Mace have also announced plans to add 1,300 people to its consultancy arm in the coming years.
From speaking with clients, it seems many companies are trying to cash in on increased spending on professional advisors.
Management consultancies are now putting serious investment into their infrastructure practices. Technical engineering consultancies are also looking to give more strategic guidance to clients.
Project management and cost consultancies are branching out more into management consulting.
It is clear to see why. The Guardian reported that the DfT spent £88 million on consultancy in 2019/20. This is up more than 150 per cent from two years earlier. The FT stated that the Big Four received almost £35 million between them from work on the HS2 project alone. This was in the 12 months to September 2019. This included project management work that’s usually reserved for technical consultants.
The rise in competition and blurred lines can only mean one thing – a hive of recruitment activity. Since the turn of the year consultants have been in growth mode.
With the market growing, experienced, capable leaders and senior work winners are critical. This means they are also in high demand. So where do you look for the right people to lead your campaign to win more consultancy work?
Clients are spending more on consultants. Certain roles may stop existing, and candidates could be looking for fresh challenges. Others may be keen for an opportunity to use their skills on a broader set of projects.
Candidates from client bodies have a valuable understanding of how the industry operates. You need to target those who can change their mindset to focus on winning work and advising.
When looking to attract candidates from one management consultancy to another, offering them autonomy, access to clients and a strong team is a great starting point.
Technical engineering consultancies may struggle to attract someone from a management consultancy. A better work-life balance and flexible working is a major selling point.
Candidates at technical consultancies may have built the skills to deliver business advisory. Management consultancies looking to expand their offering should target these individuals.
Looking to attract someone from one technical consultancy to another? If so, you need to convince them of the benefits of leaving a comfortable job to start afresh.
There is always room to think outside the box. Be clear about what skills, experience, and character you are looking for then work out how best to find it. We recently wrote a blog on the benefits of recruiting from outside your industry.