What do businesses expect from consulting firms in 2024?

A key theme for our content this month is smart/consult – one (very important) arm of the smart/tasking business. We’ve written about how this service can support businesses with their growth challenges this year (think: talent drought, wellbeing and remote working), and more broadly, we’ve discussed 2024 plans with Niall, Gary and Paul (so look out for that content coming down the line).

From an internal perspective, we’ve also been thinking and reading about the ways in which consulting businesses are changing to adapt to client needs. Simply put, consulting firms help their clients to solve challenges by providing actionable strategies to be more agile, more adaptable and therefore more successful. In this very busy, digitised and technology-fuelled world, it takes more than that for a consulting firm to thrive. Here are some of the expectations we think help a consulting firm to both stand out – but also stand the test of time – in 2024. Some new, some old, all equal in importance:

A client centric approach

Why is it important?

The consulting landscape is more competitive than ever before. Those businesses that prioritise their clients’ needs are more likely to deliver above and beyond and therefore stand out. Client-centric consulting firms will also develop deeper relationships, and with their understanding that ‘one size doesn’t fit all’, they’re better able to quickly respond to changing client needs.

We’ve always centered ourselves around really capturing the essence of our clients’ desired results, then making sure everyone understands them. This is a factor that we believe stands us apart from others; we get to know exactly what’s needed and then we get it done – we sell outcomes, not solutions. We find out exactly what a client wants, and then we deliver a wow experience every time, by tailoring our support to each individual challenge.

Continuous learning and skill development

Why is it important?

To gain credibility with clients, to position yourself as a trusted advisor, it’s crucial to be continuously learning and developing. Investing in the education and development of a workforce also helps a firm stay competitive, meet client expectations and pivot in uncertain times (the likes of which we are experiencing currently!).

We stay abreast of industry trends, emerging technologies and new business models in a few different ways:

• We invest in ongoing training and development programmes for our colleagues to enhance skills and expertise
• We are always open to learning. We learn from each other, and from our clients – whenever the opportunity arises
• Our apprenticeship programme not only means that we are investing in the future, but that we are learning as much from our younger generation of employees as they do from us.

An innovation culture

Why is it important?

This isn’t a new or surprising point, but it continues to be so important, especially because clients really do hold consulting firms/agencies in high regard when it comes to being innovative and gaining a different outlook than the one inside their business. We know that top talent is drawn to those orgnisations that foster innovation and creativity and so those consulting firms that attract the best people are laying great foundations for their future.

We encourage each other to bring new ideas, technologies and methodologies to the fore, to gain fresh perspective for our clients and the work we do for them. No idea is a bad idea at smart/tasking, and we ask that employees bring any thoughts and ideas to the team, no matter where they sit in the business, because you never know where they might lead. A new service offering? A smarter way to solve a problem? Something that pushes a client to think beyond traditional methods? We’re all ears…

Agility and flexibility

Why is it important?

Due to constantly changing client needs, technological advancements, and the uncertainty in the world – it’s more important than ever to be agile and flexible. It’s not just a strategic advancement now – it’s a necessity.

And it’s no longer enough that consultants support their clients to be more agile, more flexible, they need to be seen to be practising what they preach! And we do. We really believe we do. We work hard to create an environment where we can pivot at the drop of hat inside smart/tasking. One where we can respond to client needs, do what we say we’ll do, and really talk the talk and walk the walk. We help businesses work better, faster, smarter – and the only way to do this is to work better, faster and smarter ourselves.

Long term relationships

Why is it important?

Consultants aren’t just for one-off quick-fire transactions anymore. Building relationships is integral to the success and sustainability of consulting firms in 2024. The deeper your relationship with a client, the better value they’re getting from you, the more repeat business and referrals you’ll get from them, and even the slightest stability is very, very welcome in this rocky landscape.

We want to nurture and build relationships with clients so that we become invaluable extensions of teams. To us, it’s about really getting under the skin of what a client needs, and then providing ongoing support to them as their business grows or changes, building and strengthening those relationships as we go.

Networking as part of your DNA

Why is it important?

It’s not just about gaining new clients; it’s about growing and sharing knowledge with current clients too. Networking is a valuable resource when people come up against challenges and need advice. It’s also a way to provide opportunities for continual learning and development, and it helps build reputation and credibility.

It’s our belief that an important skill and activity of a consultant is to make networking part of their DNA. We are always learning, and in every meeting, we log something to pass on to the next meeting or customer. Everything is connected, as consultants we join the dots for people – and yesterday’s experience to inform tomorrow’s work.

Always finding ways to add value

Why is it important?

We all know that showing the value we add contributes to client satisfaction, repeat business, long term success, and even personal development (feeling fulfilled at work). The goal of a consultant is to add value at every opportunity.

We never think about what we can get out of a meeting, because it’s not about us, instead we focus on what we can do for a (potential) client. What value can we add? Can we introduce them to someone in our network? Can we share something we picked up from somewhere else or an article we know they’ll find useful? If we focus more on the value we can offer, we don’t just believe that we’ll grow a great reputation, we believe that eventually, we’ll get it back.

Clients want more from management consulting firms in 2024, and these are a few of the things we’ll focus on this year to not only meet but exceed expectations. Have we left anything out? What do you look for in a consulting firm? We’d love to hear what you think!