In 2019, a study surveyed 150 executives to understand their top priorities and challenges better. They were also asked about their views on the various aspects of management and strategy. The results of this survey offers some great insight into the motivations and expectations behind many executives who choose to hire a business consultant for their company. Below are some insights into what executives want from business consultants.
Optimization of People and Strategies
Everything that matters to a CEO is tied to strategy and people. As a consultant, you must understand what matters most to these individuals. Understand that talent and strategy are interrelated and that you must have the essential tools and expertise to help them.
Before you start working with a company, it’s vital that you thoroughly analyze its cost structures. If more than half of your costs are related to labor, you should be ready to provide them with the necessary tools and knowledge to improve their productivity and attract and retain the best talent. One of the most desirable tools a CEO can acquire is a talent management system that helps companies find the right talent and align their employees with the business strategy.
Networking and Skill Growth
According to the survey, many CEOs seek more than just management consulting. They also want to connect with other professionals who can help them improve their confidence. The necessary skills and knowledge help a CEO develop and implement a strategy. It will allow you to provide them with the essential tools and expertise to improve their performance. You can also help them connect with their existing employees and develop a talent management system that will help them attract and retain the best talent.
High Return on Investment
Various factors influence CEO’s decision-making process when choosing a consultant. One of the most common reasons a CEO doesn’t hire a consultant is their lack of confidence that they can deliver an adequate return on their investment.
Unfortunately, many consultants focus on creating a customized strategy instead of developing a proven system that can solve their clients’ talent management and business strategy challenges. This approach could be a mistake. Instead, they should focus on creating a proven system to help solve their clients’ talent management and business strategy issues. One of the most critical factors you should consider when choosing a consultant is the availability of resources and the ability to deliver lasting support.