Is consulting a dying trade?

The big four are apparently axing thousands of consultants, partners and support staff. Not only that, reports are also showing that the consulting sector may fail to grow for the first time since 2020. It’s no wonder that a lot of the conversations I’ve had recently have revolved around my consultancy business. 

Talking to people about consulting has made me think back to when I was an employed Company Secretary – when I was the one hiring the consultants.  

What was I looking for? 

Without a doubt I was looking for a brand name – because there’s safety in a brand name, right? 

I was looking for a trusted source of expertise to tell me and the team what to do, when quite frankly, we didn’t know what to do ourselves!  

Cost wasn’t something that was high on our agenda when I wasn’t the one signing off the invoices. I’m sure it was important, but it wasn’t a priority. 

So, as the sole owner of a boutique governance consultancy, a professional services provider, am I worried about what lies ahead? Without a single doubt yes! But, as a business owner, that’s always the case. 

Right now, RGS is thriving. 

We retain clients because they know us. They’ve developed a relationship with us, and they know that we see ourselves as part of their team for the duration of a project.  

Our clients appreciate that we’re practical in our guidance and our suggestions. We’ve been on the front line - we know theory is wonderful but putting it into practice can be another matter entirely.  

90% of our work comes through recommendations. New clients come to us because our reputation is starting to proceed us. 

And reputation is everything.  

We want anyone who interacts with our business to recognise that we love people. We truly believe that clients get better results if we work well together. We’re conscientious and transparent with our pricing. And we always appreciate those clients that are respectful; pay us on time and have fun.  

 We want to be recognised for continually adding value. And to do so, we’ll always work on improving processes, building relationships, sharing our wisdom and developing our knowledge. 

Our consulting work ranges from being that extra pair of safe hands to the strategic mind that guides the governance function. We’ve worked with a wide range of Co Sec functions from those that have taught us something new to ones that are undervalued and under resourced.  

So, do I think the consulting industry is in a state of flux? My honest answer is, possibly, but we’ve not seen it...yet!  

Is consulting a dying trade? I don’t think so. Businesses will always need access to people with more expertise, a deeper subject knowledge and extra resource to get stuff done. You just don’t know what you don’t know, and sometimes you just need someone to show you the ropes. 

Find out more about what we do and who we are. If you need help with governance in your organisation, then please get in touch.