New Avenues for HR Consulting Organizations – Part I

I would like to share some of my thoughts that I presented on the captioned at a seminar “HR Management Excellence in current Economic Scenario” recently held through Tackyon at Radisson in NOIDA. The objective of sharing this is to provide food for thought and some tips for aspiring / existing HR consulting fraternity.

As you may probably know, today the HR consulting industry is close to ~ $20 billion and the core fields covered under this are like –

• Human Capital
• Health & Benefits
• Mergers & Acquisitions
• Communication
• Retirement
• Outsourcing

Some of the top revenue producing global HR consulting firms are - Mercer, PwC, Deloitte, AON, Watson Wyatt, Hewitt, Hay Group, etc.

In the existing scenario, the key role played by the consultants is portrayed below :-
  • Sourcing the candidates – through database search, advertising, headhunting, personal references & networking, tie-ups with various consultants spread geographically, inflow of resources from one company to another.

  • Sourcing the vacancies - through new business generation from telesales and identifying opportunities within existing business accounts.

  • Administration - formatting profiles, scheduling of interviews and interview preparation.

  • Selling – agencies services, candidates to clients and companies to candidates.
I believe the future trends in recruitment consulting will be governed by how all of us in consulting fraternity leverage the technology and demographics in the ever dynamic global scenario.

In my next post, I shall talk about emerging trends in the talent acquisition domain which will be continued in Part II


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