Trends Shaping the Consulting Industry in 2020

Consulting Industry in 2020

Industry demand for consultants continues to grow in 2020, as it has for the past several years. In an age of increasing digital workspaces, new laws governing consultancy, and a crowded field of competition, the challenges of consultancy services reflect the growth of the industry. Staying on top of current trends can help the professional consultant stay ahead of the crowd.

Factors Affecting Consultants This Year

Maintaining and growing a client base are two of the biggest challenges of consultancy services at a time when the increase in consultants is growing alongside the need for services. Source: Other factors that have an impact on the way consultants do business in 2020 include:

  • Changing state laws, such as California’s Assembly Bill 5, governing independent contractors
  • Increasing demands on consultants to have a wide range of expertise
  • Expectations for increased output without increased pay
  • Recruitment of talent using crowd-sourcing methods
  • Collaboration between big consulting firms

These trends will play no small role in the independent consultant’s ability to keep their current client base, while continuing to land new business, thereby increasing the challenges of consultancy services. Staying abreast of the trends that shape the consulting industry will help an advisor to adapt and continue to thrive, even as the business model for consultancy continues to change.

This post was written by , posted on March 9, 2020 Monday at 8:33 am