The good news is that during economic downturns and recessions, consulting firms are still hiring. In short, the recession forces companies to be creative to avoid going bankrupt, and this is where consultants can help. If you are a current employee or an aspiring employee of a consulting firm, you will surely wonder how the global recession will affect consulting. For example, consultants who don't work in active customer studies spend time researching and developing materials to support proposals for working with new clients, or researching to develop new intellectual property for the consulting firm, ideas that could drive new types of customer studies in the future.
My Consulting Offer has helped almost 85% of the people we have worked with to get a job in the management consulting industry. After that, we will analyze what kind of effects a recession will have on the economy and, in particular, on consultants (26%) of consulting firms. Dropout occurs when clients hire consultants or decide to take advantage of their consulting experience to get a position outside the industry. The business challenges faced by companies in their transition to the post-COVID-19 economy mean that there will be a continuing demand for consulting services.
As a result, more people see consulting as a viable option and are investing their time, energy, and efforts into getting a secure job in management consulting. Dropout decreases during a recession, but it never stops because the experience gained working in management consulting makes consultants attractive hires.