Maximizing the Value of Consulting
The skyrocketing need for internal and external consultants will continue, in almost every functional area ranging from HR and technology, to auditing and risk management. Maximizing the Value of Consulting provides a manual for relevant, value-driven consulting, with world-renowned expert insight. Provide organized, efficient, relevant consulting with lasting value Maximizing the Value of Consulting is an indispensable, practical guide for managing, measuring, and delivering the results that make internal and external consulting a lasting value to clients and the company. Sponsored by the ROI Institute and the Association of Internal Management Consultants, this book provides a roadmap to relevance for consultants operating in the increasingly fast-paced, changing, dynamic environment. Readers will learn how to use resources properly and manage the investment efficiently, while truly connecting to the business, securing appropriate levels of commitment, and providing adequate levels of support. Detailed coverage includes guidance toward calculating the value of consulting in terms that executives understand, including business impact and ROI, and using the appropriate tools to show how things are working throughout the process. Whether organizations are using internal or external consultants, or both, consultants can provide better value to the company. Consultants are needed to provide advice, support, and insight into the processes undertaken to improve the business, and integrate the input of different functional units into a more streamlined strategy. This book is designed to help consultants provide the utmost value to clients by maximizing organization, efficiency, and ultimately, ROI. Manage for value with better organization and cost control Set objectives at multiple levels to deliver useful results Measure implementation, impact, ROI, and intangibles Use final results to drive appropriate actions, creating lasting value
The skyrocketing need for internal and external consultants will continue, in almost every functional area ranging from HR and technology, to auditing and risk management. Maximizing the Value of Consulting provides a manual for relevant, value-driven consulting, with world-renowned expert insight.
Maximizing the Value of Consulting
The Role and Importance of Internal and External Consulting
The beginning point of the journey described in this book is to reflect on the role and importance of consulting, from both the internal and external perspectives. At the same time, it is helpful to review the practices, changing expectations, and new requirements for these important areas. Finally, a snapshot into emerging trends and key success factors make this chapter a fitting introduction to this new book.
Trends in Internal and External Consulting
Both internal and external consulting have grown recently, and their importance continues to emerge. There is a natural evolution that makes consulting a logical solution for many situations. Also, there are a number of forces that have come together to make consulting a great choice for organizations and also as an occupation. While the drivers for growth in internal and external consulting have much overlap, some unique issues are emerging.
Emergence of Internal Consulting
The rapid rate of change coupled with heightened competition on a global basis is increasing the need for companies and public sector organizations to develop effective internal consulting capabilities. The development of this capability helps to better control overall consulting expenditures and obtain greater value for this investment. Internal consulting groups can support the development of key capabilities across the organization essential for future success in areas, such as strategic planning, project management, change leadership, and process improvement.
There are various areas across the organization that are realizing the importance of increasing their internal consulting skills to effectively provide services to their internal clients and developing more of a "business partner" role:
One overall observation is that there is a new business model evolving regarding the emergence of more formalized and structured internal consulting service and their relationship with the external consulting resources with which the organization engages.
The need to unlock the value potential of the total cadre of advisory resources spread across the organization is another key driver in the development of more formalized internal consulting capabilities. For example, most functions in an organization have a few internal consultants.
Organizations are attempting to reduce staffing levels to keep their total employee count very low. This is driven by the desire to be efficient, and the employees on the payroll represent a fixed cost that can be very significant. Reduced staffing leads to opportunities for internal consultants to provide specialized assistance.
Organizations and the work accomplished within are becoming more complex. This means that managers need help with a variety of work-related issues and processes.
The continuing growth of globalization and fast pace of change requires specialized assistance with rules, regulations, culture, and change issues, creating opportunities for internal consultants.
Outsourcing and shifting of transactional activities have created more opportunities for internal consultants. For example, in the human resources function, many of the activities are transactional (e.g., benefits administration, payroll administration) and they have been shifted to other functions such as finance and accounting. Other functions have been outsourced (e.g., help desks, training delivery). This leaves the HR function with a few generalists, often labeled HR advisors or consultants.
It is clear that internal consulting is not only a critical occupation in an organization, but one that is growing and adding tremendous value. From all indications, internal consulting will continue to grow and flourish and add value in all types of organizations.