The German consulting industry is doing brilliantly. If only there wasn't one thing...
You can probably already guess where I'm going with this. That's right: the shortage of skilled workers is ruining the party for consultants.
Things are actually going brilliantly in the sector. At 37.17 points, the ifo Institute's consultant climate index, which is effectively the counterpart to the cross-sector business climate index, is currently at its highest level for 22 months. More than every second company is reporting good business, and expectations are also strong. The gap to the economy as a whole is higher than it has been for almost 19 years. Of all things, the crisis and the transformation dynamics surrounding the energy transition and digitalization are driving business.
But a good business environment needs enough employees who can also utilize it. Three out of four consulting companies complain about not being able to find enough employees. At the same time, a third want to increase their workforce. A dazzling business and the desire to expand capacity meet the German reality of a shortage of skilled workers.
"Recruiting is a top priority for small units," Handelsblatt quotes the German Bar Association (DAV). The tax consultants' association and other industry members sound a similar note.
Unfortunately, that's how it is with the shortage of skilled workers. When things are going badly, it makes things go even worse. When things are going well, it prevents things from going even better. Until we solve the shortage of skilled workers in Germany, we won't see the much-desired growth momentum again any time soon!
