Welcome back, everyone! Happy New Year! As I settle back into the routine, here's a quick overview of what's happening in the consultancy landscape:

1. Tier 1 Holding Pattern: Many Tier 1 consultancies are maintaining a holding pattern. While there's ample work and numerous projects in the pipeline, forecasting beyond 3-4 months is becoming challenging due to prolonged project approval timelines.

1. Tier 2 Growth Realities: Larger Tier 2 consultancies are grappling with the consequences of substantial growth over the past three years. Thin-margin victories led to significant headcount expansion, necessitating a continuous stream of work to maintain staff utilization.

1. Stability in Client-Focused Consultancies: Firms prioritizing core clients and repeat work over new business have maintained stability and consistency in their workload. This strategic focus positions them well for growth in the coming year.

1. Sector Diversification Pays Off: Consultancies with a mix of private and public sector clients remain stable, with sectors like primary and secondary education and health providing respite.

1. Upcoming Projects to Relieve Pressure: Major projects, including Melton Hospital, MARL, and the SRL, expected to kick off in the middle of the year, are anticipated to ease pressure in the tier 1 space, with potential positive effects on tier 2.

1. Delayed Projects Anticipated in Q4: Projects and proposals initially expected before Christmas are now projected to move in February/March, contributing to an uptick in workload for the last quarter of the financial year.

1. Anticipated Interest Rate Drops: Expected interest rate drops at the end of 2024 are predicted to have a significant impact on private sector confidence.

While the highs of 2021 and 2022 might not be replicated, 2024 appears to be a year of consolidation, setting the stage for a potential uptick in 2025. If you have concerns about work or growth opportunities in your current role, feel free to reach out for a confidential chat at 0432 403533.

I'm actively recruiting in the Tier 1, Tier 2, and Tier 3 space across various disciplines:

• Hydraulics
• Fire Protection
• Electrical
• Structures
• Building Civil

Here's to a successful and strategic 2024! #MarketUpdate #Consultancy #CareerOpportunities