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Consultants benefiting from post-GFC shortages

Consultants benefiting from post-GFC shortages

As the fallout clears from the recent GFC, Australian companies are finding themselves lacking critical expertise and manpower – a shortage project consultants are benefiting from, according to a recent survey.

More than half - 57% - of project professionals reported increased demand for their services in 2010, according to the survey's author, consulting firm Resources Global Professionals. By contrast, last year 78% reported less demand.

And 53% of clients listed compensating for a lack of in-house expertise as the main reason for hiring a consultant, compared to 40% last year, while 43% said it was due to lack of staff availability to execute projects.

“Companies are realigning to reflect the new business environment,” Resources Global Professionals managing director APAC Jacinta Whelan said.

“An ongoing trend towards very lean core teams with a freeze on permanent hires means companies do not have spare capacity when a project need arises, so they bring in consultants as and when needed.”

Whelan said the results support “anecdotal evidence that we are in a realign phase of the business cycle.”

The use of consultants has grown particularly quickly in the financial services and resources sectors, the survey shows.

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Tags economic recoveryglobal financial crisisconsultants

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