SOURCE: Kennedy Consulting Research & Advisory

Kennedy Consulting Research & Advisory

August 11, 2009 11:45 ET

Contrary to Expectations, Firms See an Uptick in Demand for Talent Management Consulting

Kennedy Research Shows Advisory for Employee Training & Development Growing at Just Under 4% Through 2012

PETERBOROUGH, NH--(Marketwire - August 11, 2009) - While previous recessions were accompanied by wholesale cuts across organizations, HR executives today view such layoffs as a threat to their firm's sustained growth. And while discretionary Talent Management consulting engagements were the first area to be cut by corporate HR departments in the wake of the current global economic crises, consulting practices are actually seeing an uptick in engagements directed at executive compensation; talent redeployment; redefinition of work competencies; employer brand; and training and development -- particularly training for emerging leaders expected to navigate their staff through tough economic waters.

Exclusive market research from Kennedy Consulting Research & Advisory, "Talent Management Consulting Marketplace," shows that consulting on employee training & development trumps all other segments of Talent Management at $1.14 billion in 2009 -- growing at a CAGR of 3.9% through 2012. CEOs' hard focus both on their company's overall long-term sustainability and on having the necessary human capital capabilities to be ready for when the market improves sets the stage for current talent management engagements. In response, Talent Management consulting practices are revamping their available services to meet not only client demand within these areas, but the unique challenge of retaining high-impact talent through a recession.

"Thoughtfulness and judiciousness by HR leaders in Q4-2008 and Q1-2009 may not be quite as apparent as news of layoffs make headlines; but these leaders manage these very difficult circumstances with workforce analytics they developed prior to the downturn," said Mary Ann Bui, Senior Research Analyst, Kennedy Consulting Research & Advisory. "Even in industry sectors like high-tech, perceived for their lowest cost mindset, are very much in the habit of thinking of the future organization and the impact layoffs may have to future capability and their employer brand." Despite the apparent need for firms to evolve their Talent Management consulting portfolios, "The Kennedy Vanguard of Talent Management Consulting Practices, 2009" shows just 6 of 24 leading firms advancing breadth and depth of services offered. Among the practices assessed are: Accenture, AON, BearingPoint, Deloitte, Ernst & Young, Hewitt Associates, Heidrick & Struggles, IBM Global Business Services, Korn/Ferry International, Mercer, PricewaterhouseCoopers, and KPMG International. Attempting to keep their doors open, other firms are expected to follow suit.

About Kennedy Consulting Research & Advisory

Since 1970, Kennedy Consulting Research & Advisory, a division of Kennedy Information, has been the world's leading source of market analysis on the Management Consulting and IT Consulting industries, serving the most highly regarded professional services firms and Fortune 500 companies across the globe. Kennedy provides accurate and reliable market sizing and forecasts for consulting services world-wide; needs analysis and vendor profiling for buyers of consulting services; timely and insightful intelligence on the top consulting firms in their respective markets; and operational benchmarks that measure consulting performance. Kennedy's research spans multiple service areas, client vertical industries, and geographies.

Kennedy's stand-alone consulting advisory unit, Kennedy Information Advisors, provides results-oriented strategic guidance to buyers and sellers of consulting services.

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