Digital consultancies and system integrators (SI) play a crucial role in helping organisations navigate the complex realm of technology and digital transformation. However, the challenging times of 2023 have seen a significant number of layoffs, including within the digital consultancy sector. The running total of layoffs for 2023 based on full months to date is 168,243, according to Layoffs.fyi. Tech layoffs in 2023 exceed the total number of tech layoffs in 2022, according to the data in the tracker. Companies like Accenture, McKinsey, BDO and KPMG have announced layoffs this year as part of that total number.
To adapt and thrive amidst these circumstances, it is essential for digital consultancies to embrace on-demand talent. The days of having a large permanent bench then deploying then when a project is won are over.
By leveraging the power of on-demand talent, these consultancies can not only address their reduced bench resources but also drive revenue and deliver exceptional value to their clients.
The Shifting Landscape of Digital Consultancies
The digital consultancy industry has experienced significant upheaval in recent times. As organisations face economic uncertainties, budget constraints, and a need for streamlined operations, many consultancies have had to resort to layoffs to maintain their financial stability. While these layoffs have reduced their bench resource, they have also created an opportunity to explore alternative talent models.
Harnessing the Power of On-Demand Talent
On-demand talent refers to a flexible workforce that can be tapped into on an as-needed basis. By engaging with independent contractors, freelancers, and specialised consultants, digital consultancies can access a diverse pool of talent with unique skills and expertise. This allows them to build dynamic project teams tailored to specific client needs, without the burden of maintaining a large, full-time staff.
Cost Efficiency and Scalability
One of the primary advantages of on-demand talent is the ability to optimise costs. Digital consultancies can align their resource utilisation with project demands, ensuring they only pay for the talent they need when they need it. This scalability allows for cost efficiencies, as the consultancy can dynamically adjust its workforce size based on project volumes. The reduction in fixed overhead costs associated with full-time employees can lead to substantial savings and improved profitability. By using Gigged.AI small specific deliverables as part of a larger project can be completed on the platform.
Access to Niche Expertise:
Digital consultancies often encounter diverse challenges that require specialised knowledge and skill sets. On-demand talent provides access to a broader range of expertise, allowing consultancies to assemble teams with precisely the right combination of skills for each project. Whether it’s artificial intelligence, cybersecurity, data analytics, or user experience design, consultancies can tap into a vast talent pool to deliver the highest quality solutions to their clients. On Gigged.AI the top skills hired by digital consultancies are data engineers, UX Designers and software developers. We expect business analysis and testing to increase this year as well.
Enhanced Agility and Innovation:
In an era defined by rapid technological advancements, adaptability is key to success. On-demand talent offers digital consultancies the agility necessary to stay ahead of the curve. By engaging with a flexible workforce, consultancies can quickly adapt to changing market dynamics, emerging technologies, and evolving client requirements. This agility enables them to seize new opportunities and deliver innovative solutions that can drive revenue growth and maintain a competitive edge.
Building a Network of Trusted Partners:
Developing long-term relationships with on-demand talent fosters a network of trusted partners. Over time, consultancies can build a roster of reliable and talented individuals who understand their business and culture. This network allows for seamless collaboration, efficient project execution, and a cohesive delivery of value to clients. Furthermore, the consultancy’s reputation for fair treatment and professional relationships can attract top-tier on-demand talent, enhancing its overall capabilities. Having an associate model as well as a platform partner like Gigged.AI can mean you can still deliver with less full-time workers.
While the wave of layoffs in 2023 has undoubtedly presented challenges for digital consultancies, it has also provided an opportunity to rethink their talent strategies. By embracing on-demand talent, these consultancies can mitigate the impact of reduced bench resources and, simultaneously, drive revenue growth. Leveraging the power of on-demand talent enables consultancies to optimise costs, access specialised expertise, enhance agility, and foster innovation. In the face of adversity, the ability to adapt and thrive will distinguish digital consultancies that excel in delivering exceptional value to their clients.