Should consulting be regulated?

Fiona Czerniawska, Source’s CEO, and Margaret Cameron-Waller, Associate at Source, caught up with Emma Carroll, Source’s Head of Content, on the latest episode of our The Future of the Firm podcast to discuss the thorny issue of whether consulting should be regulated.  Fiona and Margaret shared their insight on the following matters and more:   If regulation is needed, then there is a decision to be made about whether firms or individual consultants would be the target. We think about what these options would involve.   We consider what self-regulation looks like in the consulting industry today and what impact it is having.  The wide nature of consulting work would make it extremely difficult to regulate—we look at the other pros and cons.  There is an argument in favour of junior consultants going through a recognised qualification—we consider what this would entail. We also debate the need for CPD.  We conclude that the consulting scandals that hit the headlines are outliers rather than the tip of an iceberg or the sign of a systemic problem.   Firms should carry out satisfaction surveys with all clients, and this should include a question about the value created. We challenge firms to publish the results.     If you enjoyed this conversation, don’t miss our sister podcast, Business Leader’s Voice. In a recent episode, we talked to Andy Haywood, former Chief Modernisation Officer of Yorkshire Water, about the recurring challenges in businesses.