Impact of COVID-19 on Consulting Industry
Clients are feeling the pain of the outbreak in the way of supply chain disruptions, waning consumer demand, market uncertainty, workforce security concerns, etc. This will obviously mean that budgets will be squeezed and appetite / ability to pay for Consultants significantly constrained. Additionally, since Consulting itself is obviously a travel-heavy industry, the model doesn't exactly lend well to operating in an outbreak.
What do you think the effect will be on pipeline, revenue, and chargeability for MBB and other major consulting firms? On promotions and ways of working? For those that are currently a practicing consultant, what shifts are you seeing at your firm?
The WHO has labeled the Coronavirus outbreak a pandemic as of today 3/11