Consultant Survey SnapshotJuly 2018

2.2

In May/June 2018, Talmix conducted a survey among 40,000 independent consultants. The results from over 1,000 respondents provide a barometer to gauge key trends in using independent business talent. Independent workforce continues to gain traction The rise of the independent workforce is well-documented: our findings confirmed this with 60% of respondents saying that use of independent talent had increased in the last 12 months. This trend is expected to continue, with the use of platforms like Talmix expected to become one of the main ways to access this talent.In-demand skillsIndependent consultants are used for strategic and complex projects. Businesses turn to them for skills that may not be available in-house. The following were identified as the current most in-demand skills and likely to increase over the next 12 months:• Digital Transformation• Organisational change• Operational ImprovementBudgeting for the independent workforce Unsurprisingly, hard-to-find skills enable consultants to negotiate rates with clients. Part of this is driven by companies being unsure how to budget for the independent workforce: 72% of consultants surveyed believe that companies would benefit from help and advice in this area.The biggest impact on project budgets relates to urgency of a project and issues relating to overrunning projects.

Executive summary

3.

Independent workforce continues to gain traction

I ncr eased

St aye d a bout t he sam e

D ecr easedU nsur e

0%

20%

40%

60%

Usage of independent talent

Organisational structures are changing and fixed teams no longer provide the best solutions to dynamic requirements in a digital age

Talmix consultants enable companies to build the best teams to address business issues

60% of survey respondents believe the usage of independent talent has increased in the past year

Whilst many opportunities are filled by consultants who are already known to the organisation (referrals, personal network and former employees), Talmix and other independent networks are increasingly effective channels

53%37%

10%

Usage of platforms like Talmix is increasing

Ye s

M aybe

N o

4.

We asked if different project factors influenced budgets…

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100 %

U rge ncy of pr oj ect

Bu sine ss cr i ti cali t y an d i m pact

Ex pect ed RO I

Tr oub lesh oot ing ove rr unn ing pr oj ect s

Si ze of bu sine ss

D ura ti on of pr oj ect

Loca ti on of pr oj ect

Si ze of t eam

How project factors influence consultant budgets

H igh i mp act Low im pact N o i m pact

Urgency is the key factor for corporates when they are budgeting, although business criticality and impact are obviously important. Our conclusion is that better planning would enable the enterprise to get better value.

5.

…And how this influences rates

26%

29%

32%

3%10%

How often do you negotiate rates?

So me ti m es

Al wa ys

O ft en

N ever

R are ly

44%

10%

18%

16%

7%5%

What factors are important when negotiating rates?

Sp ecia li st know le dge in cr it ica lr ole t o pr oject

Pr evi ous expe ri ence w or kingw it h c lie nt

Pr evi ous expe ri ence w or kingin se ctor

D ir ect r el evance t o ro le

C om pet it ive pr essur e

O the r

29%

34%

14%

23%

Do you think rate has an impact on winning business?

I do n't t hi nk rat e has si gnif i cant i mp actf or t he kind of assi gnm ent s t hatin depen dent c onsul ta nts w ork on

I set ra te t o m at ch th e k now n b udgetof t he cl ient

I t hin k I wi n b usin ess because m y ra teis l owe r t han ot her s w it h sim i larexpe ri ence

I w in bus iness eve n t hou gh my r at e i shi gher tha n o the rs w it h s im il arexpe ri ence

Hard-to-find skills enable consultants to negotiate rates with clients. 72% of consultants surveyed believe that companies would benefit from help and advice in setting budgets. 80% said that clients still saw independent consultants as short-term, tactical resources. Our conclusion is that corporates need to plan more effectively to get better value from this workforce –away from tactical, and away from last-minute budgeting.

6.

What are the hard to find skills?

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Digi

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Org

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Ope

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Data

Scie

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Mar

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anag

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Fina

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Market trends driving consultant demand

Survey respondents expect demand across the board, but particularly in the following areas

• Transformation dominates

• Data and research continue to evolve

7.7

How can we help the enterprise?

Consultants do not want to work to vague parameters, and want to work as efficiently as possible to deliver client success. There is still a risk that companies outsource difficult projects because they don’t fully understand the requirements: scoping is key.

Clear scope, objectives, goals with milestones and deliverablesCommunication and feedbackTrustPreparation, induction and support

Integration into team/ organisationFlexibility

Lack of clarity/ visionDisorganised, shifting timelinesOverestimated deliverablesUsed as a tool/ scapegoat to deliver bad newsExcluded from team/ organisationLack of trustPoor communication

Top

tips

When projects struggle

8.8

Conclusion: plan for successCompanies want to increase their use of independent talent, and there is still change to be made in the way they plan for this new workforce.

Planning better, with better understanding of where the needs are, means that independent consultants will deliver better value.

With 80% of respondents agreeing that they are mostly seen as tactical resources, there is a step change required to embed independents within workforce plans and maximize their impact.

Including the independent workforce in overall workforce strategy plans, with more data to support budgeting and overcome that critical barrier, will provide corporates with more confidence to engage and see success.

Conclusion: plan for success

9.

Appendix: Survey demographics

There are now hundreds of thousands of independent consultants globally who have chosen to pursue an independent career and the Talmix network now comprises over 40,000 of these independents.

Independent consultants offer organisationsaccess to their functional and sector expertise in an efficient, flexible and effective manner

The respondents to the Talmix survey represent this broad mix of talent. This year we saw

- A slight increase in responses from consultants aged under 40

- A more even geographic spread

6%

28%

30%

34%

2%

Participant Age

18- 30

31- 40

41- 50

O ver 50

N ot di sclos ed

26%

20%

20%

17%

17%

Participant Location

U SA & C anada

U K

Eu ro pe

As ia

R OW

Thank you !