Financial risk management consultants belong to the Finance & Risks consulting family, which represents almost 20% of the management consulting industry. Given the overlap of activities with law firms, auditors, and mergers and acquisitions boutiques, determining their size is often a challenge. Now, there is a relatively new and rapidly developing area of economic consulting, and these consultants are known as economic and strategy consultants. They are practically a sub-category and are part of the strategic consulting family.
Some consulting careers are in high demand right now. There is an above average growth in management analyst positions, also known as management consulting. According to the Bureau of Labor Statistics, this field is expected to grow 14% in the coming years. Other consulting jobs that are in demand include market research analysts. Market research analysts are expected to experience even faster growth of 25%.
As environmental improvements become increasingly important, the demand for environmental consultants is also expected to increase. Financial advisors are in high demand these days. CFOs in virtually every industry outsource their work to all types of consultants who can help them make crucial decisions, improve performance, inject new energy, and guide their companies toward a more profitable future. Economic consultants observe market changes and trends and advise companies on how their economic policies should change.
Operations management consulting projects help clients to function more efficiently by advising and helping to implement improvements in the operating model, functional business processes, management systems, culture, and other desired value chain elements. You may be wondering what types of consultants are in demand so you can find a well-paying consulting job. Risk consultants implement their knowledge of business, finance, and mathematics to help companies seeking to reduce or eliminate risk while carrying out operational, financial, and technological business processes. They can help entire marketing departments or consult small businesses that don't have marketing experience.
In addition, the consulting industry offers independent consultants greater flexibility and the opportunity to choose their own career paths. If you've just started a business or want to expand into new sectors, the first step is to determine what consulting experience would be of interest to potential clients. Never underestimate the power of a well-crafted RFP for consulting, simply because a foolproof RFP could be your path to success in any consulting project. Purchasing consultants help companies assess their current costs, analyze the advantages and disadvantages of potential suppliers, perform competitive analysis of suppliers, negotiate contracts with suppliers, and implement a strategic supply chain.
The consulting industry has grown faster than ever, especially as more companies seek expert guidance in areas such as management, technology, marketing, and more. Therefore, sales and marketing consultants help companies achieve their objectives and maintain long-term growth. Nearly half (48 percent) of the chief financial officers surveyed by Robert Half Management Resources said they would turn to consultants to guide them in implementing business systems and managing conversion and integration. It is useful when a financial consultant has experience in financial planning or specializes in corporate financial management, education costs, retirement planning, investments, or some other area with which the client needs their consultant to be familiar.
In addition, economic consultants examine the financial health of companies and make recommendations on how to improve and adjust existing programs. As a small business consultant, you'll provide the resources and guidance a small business may need.