Strategic Objectives: Are Consultants Worth the Price?

In today’s rapidly evolving business landscape, companies are faced with increasingly complex challenges and ambitious strategic objectives.  While internal teams possess valuable expertise, tapping into the insights and experience of external experts can provide a competitive advantage and accelerate success. In this blog post, we will explore the benefits of utilizing external consultants, particularly when involved early in the planning process, and how this investment can yield significant returns for organizations. 

1.    Gaining Fresh Perspective: 
External consultants bring a fresh perspective to strategic initiatives, offering insights and best practices gleaned from their diverse experiences across industries and organizations.  According to a study by McKinsey, 84% of executives agree that external consultants bring new ideas and fresh thinking to projects.  By engaging external experts early in the planning process, companies can leverage their outside perspective to identify innovative solutions and anticipate potential challenges, setting the stage for strategic success.

2.    Maximizing Return on Investment: 
Contrary to common misconceptions, investing in external consultants can yield a high return on investment (ROI) for organizations.  Research by Deloitte indicates that companies that invest in external expertise to support strategic initiatives achieve 2.7 times higher ROI compared to those that rely solely on internal resources.  External consultants bring specialized knowledge and skills to the table, allowing companies to streamline their efforts, minimize risks, and optimize resource allocation, ultimately maximizing the ROI of their strategic investments.

3.    Effectively Managing Change: 
Implementing strategic initiatives often requires significant organizational change, which can be challenging to navigate without the right expertise.  External consultants specialize in change management methodologies and can help companies effectively manage transitions, mitigate resistance, and foster a culture of adaptability.  According to a survey by Prosci, organizations that engage external change management consultants are 1.5 times more likely to meet or exceed project objectives compared to those that manage change internally. 

4.    Enhancing User Adoption: 
User adoption is critical for the success of any strategic initiative, yet many organizations struggle to engage employees and stakeholders effectively.  External consultants bring expertise in user experience design, training, and communication strategies, helping companies tailor their initiatives to meet the needs and preferences of end-users.  Research by Gartner indicates that companies that invest in user adoption strategies experience 50% higher project success rates compared to those that do not prioritize user engagement. 

5.    Overcoming Resource Constraints: 
Many executives have bold and innovative ideas, but without the right resources and talent to execute them, companies may face significant challenges.  According to a survey by Harvard Business Review, 78%of executives believe that their organization lacks the necessary resources to execute their strategic initiatives effectively.  By leveraging external consultants, companies can augment their internal capabilities, access specialized expertise, and scale their efforts to meet strategic objectives efficiently.  

In conclusion, the decision to engage external experts early in the planning process is a strategic investment that can yield significant benefits for organizations.  By gaining a fresh perspective, maximizing return on investment, effectively managing change, enhancing user adoption, and overcoming resource constraints, companies can position themselves for long-term success in today’s dynamic business environment.  As the saying goes, “If you think hiring a professional is expensive, try hiring amateurs.”

About Advanced Resources

Advanced Resources partners with leading organizations providing consulting and staffing services. Advanced Resources specializes in two critical business areas: human resources and accounting & finance.

Over the past 30+ years, Advanced Resources has been recognized as a perennial Top Workplace while helping clients secure the best talent to meet their hiring goals. 

The team of Advanced Resources is comprised of accomplished industry professionals that understand people are the heart of all organizations. Advanced Resources offers a personalized approach and proven processes to help with strategy staffing execution. 

To learn more, subscribe at AdvancedInsights, or follow us at AdvancedResourcesLinkedIn.