Future trends of I/O consulting
Teachout and Vequist (2008)identified driving forces affecting future trends in the business consulting:
(1) changes in the market conditions
(2) competition for market share and talent
(3) changes in customer demands
(4) changes in technology and innovation
(5) increase in costs, especially in energy and health sectors,
They also discussed three trends in the field as a result of these forces – people, process, and technology.
Human capital or people
In terms of human capital or people consulting, there are major forces for future trends:
(1) lack of competencies in STEM and communication fields
(2) aging of workforce, resulting in the loss of experience and expertise in organizations
(3) increasing and aggressive competition for talent
(4) increase in project- or contract-based workforce instead of hiring permanent employees
As a result, trends, such as major talent management, selection and recruiting, workplace education and training, and planning for next generation, have emerged. In addition, change management also becomes important in organizations in order to innovate and implement new technology, tools, and systems to cope with changes in the business.
In terms of process consulting, because of an increase in competition, it becomes important to identify and improve key processes that meet customer values and demands as well as that are faster and cheaper.
In terms of technology consulting, there is an increased need to automate processes or data so that employees can focus on actually doing work and focusing on business rather than doing the manual labor. The consultant can add value to these technologies by providing training, communication plan, and change management as well as to incorporate these technologies into organizational culture. So, regardless of how advanced technology is, consultants are still needed in making sure that these advanced technologies have positive effects on employees and organizations in both technical and social aspects.