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What Is the Consulting Industry?

In the Consulting Industry, specialists in various areas provide companies with advice and solutions to different problems. Companies hire consultants because they believe that a third party can take a fresh, independent, and impartial approach to issues at hand. A range of problems consultants solve for companies is wide; hence, consultants can offer their services in any sector. Yet the most required consultants are Management Consultants, Recruitment Consultants, and Business Advisers. Though they work in different sectors, these consultants give objective pieces of advice to organizations concerning their business strategies, structures, management, technology, and operations. In all these fields, consultants also provide additional resources and the implementation of solutions. Consultancy services are becoming increasingly popular in many countries in the world. In the United Kingdom alone, there are about three hundred consulting firms that offer consulting services across different disciplines.   


What Do Consultants Do?

Organizations turn to consultants or consulting companies, when they lack knowledge or expertise to solve a specific problem. They decide to hire professional advisors for the following reasons:

  • Consultants or consultant firms are independent parties, not involved in a company’s business; by virtue of their non-involvement, they can provide judicial and nonprejudiced insights into problems and find suitable solutions to them;
  • Companies often do not have resources or abilities to manage their change portfolio and thus employ consultants to do so, which, in addition, can be cost effective;
  • Consultants are often involved in teaching, explaining to employees how to use certain applications or software or how to increase the company’s revenue;
  • Consultants are helpful to put a new start-up business in motion and reorganize a collapsing business, giving advice on what restructures its departments can have and who of its employees can be laid off.

What Are Different Types of Consultancy?

The field of consultancy is broad and includes different types of consulting services, the most popular of which are Recruitment and Management Consulting. Differences between these two types of consultant services are highlighted below.

What Is the Recruitment Consultancy?

Historically, the role of the Recruitment or, as the industry is always called, the Human Resources Consulting Sector has developed from management consulting involved in helping companies move their business forward, the defining feature that remains central today to the existence of the Human Resources Consulting. Indeed, the industry revolves around human resources management tasks and decisions.  The Human Resources consultancy dovetails in two directions: HR consultants can be either the Expert Resource Consultant or Process and People Consultant:

  • The Expert Resource Consultants analyse the company’s and people’s experience and professionalism and, based on their completed analysis, suggest solutions to existing problems. After the company’s management has accepted these solutions, Expert Resource Consultants assist their co-workers with their implementation;
  • The Process and People Consultants do not help companies implement found solutions. By using certain methods, they enhance their creativity and thereby empower them to implement these solutions themselves.

Another important responsibility that Human Resources Consultants shoulder is establishing close connections between employees and administration. This is achieved by several activities: HR Consultants regulate federal guidelines on discrimination, hire employees, and terminate them. They also interpret human resources policy and advise their organizations how to better implement it. They are largely responsible for employees’ and managers’ compliance with the human resources policy.

What Are the Responsibilities of the Human Resources Consultants?

The Human Resources Consultants perform a wide range of responsibilities. Among them are the following:

  • Analyzing the company’s human resources programs;
  • Offering consultancy and solutions to problems;
  • Advising the company’s managers on how to administer human resources policies and procedures;
  • Developing and implementing these policies and procedures;
  • Helping with the improvement of the workflow;
  • Analyzing information about special projects and developing projects for this analysis;
  • Conducting training sessions related to these projects;
  • Interviewing potential employees;
  • Hiring and dismissing employees.

JobTestPrep’s exclusive PrepPack™ includes test simulations that you may meet during your assessment for a position of the Recruitment Consultant. Practise with our high-quality resources and increase your chances of being hired to help with recruiting the right employers from the applicant pool.

What Is the Management Consulting?

The aim of the management consulting is to help organizations improve their performance and revenues, assist them with their growth. Another goal is to help managers solve whatever problems they have and point to them what new ways they can take to run their business. Management Consultants are similar to business advisers in that they advise organizations on business strategies and business organization. Yet the function of the Management Consultants is not limited to giving advice.  They also implement proposed solutions, practically executing their plans of improving companies’ growth and revenues. There are numerous ways management consultants enhance companies’ performance in practice. They either raise the efficiency of business processes or introduce new IT systems, or optimize the supply chain, depending on the field in which a specific company works. As a rule, Management Consultants are engaged in a project until changes have been implemented and until the company starts seeing the signs of business improvement.     

What Services Do Management Consultants Offer?

Management Consultants are usually classified into several categories. A partial list of these categories together is presented below:

  • Strategy Consulting – Management Consultants specializing in strategy consulting advise companies on what business strategies to adopt to bring their business forward. To qualify for this role, job applicants would need to answer correctly case interview questions and offer a solution to a specific business problem that your recruiters may present to you during your face-to-face interview. To prepare for your interview, avail yourself of a brilliant opportunity to study with JobTestPrep’s high-quality resources. They will help you to sail through your recruitment process with ease and confidence.
  • Accounting Consulting – Companies providing accounting consultancy do not only deal with business arithmetic but also improve companies’ financial tracking and reporting processes along with compliance rates. By optimizing billing and payment processes or policies, Management Consultants focusing on accounting also help companies enhance cash flow and, in so doing, boost their revenues.
  • IT Consulting – Many Management Consultants offer technical help to organizations. Among other services, they implement a company’s Enterprise Resource Planning (ERP) software system or Customer Relationship Management (CRM) system. They also enhance the protection of important data, encrypting it, backing it up, accessing, and securing it. IT consultants also fine-tune the company’s requirements and, in so doing, receive more bids from various IT vendors.

What Education Should Management Consultants Have?

Most of the recruiters expect applicants vying for a position of a Management Consultant to have a bachelor’s degree in Business Analytics or other related fields such as finance, business administration, business management, or accounting. Depending on the specific area in which applicants intend to work, degrees in other disciplines may also prove useful. Among these disciplines are marketing, psychology, human resources, engineering, and political science. Some companies, however, may expect their job candidates to hold a Master’s in Business Administration. Certifications from some accredited organizations may also prove useful for the advancement of your career. As a rule, these organizations ask Management Consultants to fulfill several requirements that include at least three years of practice as a Management Consultant, a bachelor’s or master’s degree, and the successful completion of tests. JobTestPrep has a rich arsenal of test simulations with which you can fully prepare for these exams and become certified. Go through a dry run of our tests and advance your career as a Management Consultant.


What Education Should Human Resources Consultants Have?

To excel in the role of the Human Resources Consultant, you do not always need to have a master’s degree. As a rule, you are expected to hold a bachelor’s degree in business administration or any related field. To be employed in this role at the company of your choice, it is desirable to have at least three years of work experience in a human Resources department. What is also important for the successful Human Resources Consultant is to study constantly and remain up-to-date on the changes of rules and regulations that often occur in the industry. They need to possess a good knowledge of the latest technology and services available to them. To remain aware of frequent changes of Human Resources policies, HR Consultants are expected to attend professional development seminars and always adhere to guidelines for continuing education.

Some companies, however, do require their prospective candidates for a position of the Human Resources Consultant to have the Master of Business Administration (MBA) in Human Resources Management. Employers think that receiving this degree is important for succeeding in the new workplace, because it enhances students’ knowledge in such important areas as finance, leadership, marketing, and management, all of which prove indispensable, when they start working in the Human Resources department. The MBA in Human Resources Management includes but is not limited to the following subjects:

  • Human Relations;
  • Human Resource Management;
  • Marketing Management;
  • International Business Management;
  • Organizational Behavior;
  • Leadership;
  • Business Ethics.

If you hold the Master of Business Administration (MBA) in Human Resources Management, you will have a clear advantage over other job candidates vying for the same position with you.


What Skills and Traits Should the Recruitment and Management Consultants Possess?

Acquiring the bachelor’s or master’s degrees guarantees that job applicants have required knowledge of Human Resource Management or Management Consultancy. But to succeed in the roles of the Human Resources or Management Consultants, having the appropriate education is insufficient. Job candidates also need to have certain soft skills and personality traits that will make them qualified to work as consultants. Our Personality Test will help you identify these traits and will teach you how to highlight them most effectively. Below are some of the qualities that are important in the Human Resources and Management Consultants:

  • Good Communication Skills –Consultants should know how to explain difficult concepts and ideas simply. Not everyone understands human resources policies or managerial concepts or procedures. Consultants should know how to make them understood by all employees;
  • Good Listening Skills – Understanding problems involves listening to clients and their needs. The solutions HR and Management Consultants offer should always address these needs. 
  • Theoretical and Practical Knowledge – Consultants must have work and life experience to see what solutions have worked in the past;
  • Good Analytical Skills – Consultants need to draw relevant conclusions from their work and life experience and know how to improve upon former mistakes;
  • Improvisational Abilities - Human Resources and Management Consultants must be not only creative and adaptable but also able to foresee and then implement multiple solutions to problems. They also need to adjust themselves well to changes, since the Consultancy Industry constantly changes.
  • Strong Personal Integrity – Building firm interpersonal relationships with co-workers and clients is crucial for the Human Resources and Management Consultants. To do so, they must be trusted by others. Having personal integrity is, therefore, the key to their success in their chosen profession.

What Are the Most Popular Consulting Companies in the UK?

There are several highly popular Human Resources Consulting firms in the United Kingdom. The list below is necessarily limited to a few of them:

AT Kearney – This is a global management consulting organization that has offices in more than 40 counties. Established in 1926, it always seeks to deliver immediate impact and growing advantage to its clients. AT Kearney’s revenue exceeds US$ 1.1 billion every year.

Accenture – Founded in 1989, this company provides management consulting, technology, and outsourcing services. Although the company is headquartered in Dublin, Ireland, its offices operate in more than 56 countries, offering placement to 442,000 employees. Its revenue reached S$34.85 billion in 2017.

Arthur D. Little – Established in 1886, the company invented the concept of contracted professional services. It has also made meaningful impact on the development of operational research, the word processor, synthetic penicillin, SABRE, and NASDAQ. It has 36 offices worldwide.

Atos Consulting – This company is IT services corporation. It was established in 1988 and now has offices worldwide. Atos Consulting specializes in hi-tech transactional services, cloud, big data, cybersecurity, and unified communications. Holding numerous government contracts, it provides services to NHS Scotland, Home Office, Welsh Government, the UK Ministry of Defence, and the BBC.  

Capgemini – This is multinational professional services and business consulting corporation. It has over 200,000 employees in over 40 countries. Founded in 1967, Capgemini delivers services through four disciplines: Consulting, Technology, Outsourcing, and Local Professional Services. Its revenue reached €1.18 billion in 2017.

Explore More Human Resources and Management Consultancy Employers

Follow the links in the table below to learn more about the application and selection process of some known employers.

Accenture Bain&Co Blackrock CEB SHL
Deloitte FDM Hays Mckinsey
Mercer Oliver Wyman Towers Watson  Millward Brown

 

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JobTestPrep has a rich arsenal of test simulations with which job applicants can prepare for a position in the Consultingy Industry. Practise with our unique resources and launch an illustrious career in the Human Resources and Management Consultancy Industries.