Today, we look back to an event discussing how young consultants must shape the future of consulting.
The event, entitled ‘Consulting 2025’, was hosted by Young MCA, discussing the future of consulting. The panel was led by many expert guests, including a Partner at Deloitte, and a Director at KPMG. The panel ultimately concluded that today’s young consultant would have an important role to play in the future of the industry.
Opportunities & Threats
One of the first points addressed was that technology is vastly spreading when it comes to both communications and processes in consultancy. It would be young people’s main role to understand how to use technological advances and use this to their advantage in the future. The majority of the audience acknowledged that technology could be a threat to the industry. The panellists warned the audience of the new trends in the digital transformation of the industry.
A panellist mentioned that emotional intelligence from young consultants will be an important skill, although Nadun Muthukumarana, Partner at Deloitte said: ‘Not enough consultants are being produced with the technical skills to fulfil the demand we see in the market. We are having to look outside the UK to meet the demand.’ A consultant at Mott MacDonald also emphasised that is essential for young consultants to build their own brand.
Gender & Diversity
Many members of the audience recognised and focused on the issues of gender and diversity in the consulting industry. However, many panellists mentioned that to see progress, action needs to come from young leaders.
The majority of the audience recognised that a role in consulting can provide an individual with an unbalanced, unhealthy work/life balance. And Lisa Unwin even mentioned how this hasn’t improved in the last 30 years, saying ‘The philosophy has to change because it will drive out great talent and the best won’t flourish.’ Nadun Muthukumarana advised that the key to gaining a good work/life balance was to understand how much you are comfortable with, and then make an effort to manage your time.
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