Talented young consultants - take the MCA challenge

In recent years our industry has seen a new priority emerge at the Management Consultancies Association – and that is to foster the development and enthusiasm of young consultants who will be the lifeblood of the industry’s future. Top-Consultant.com became sponsors of the Young MCA a year ago as part of a fun drive to broaden the reach of the Top-Consultant brand. Events to date have included a riverboat cruise and talks from networking experts, sporting idols and entrepreneurs. But now the Young MCA have gone a step further and are appealing to consultants’ competitive nature.

Hot on the heels of programmes such as The Apprentice and Dragons’ Den, the MCA have announced the launch of “The 2006 Young MCA Consultants’ Challenge” which will see teams of consultants pitted against one another to complete a series of tasks and challenges. Whilst intended to be a fun event, knowing the consulting industry you can imagine the rivalry there will be between firms to secure their place as leaders of the pack! And for those of you looking to broaden your consulting network, entries are now being sought from teams of young consultants interested in taking part in this month’s event.

The format will see teams of consultants from compete in three activities designed to test the skills management consultants use during their daily work. Top-Consultant are pleased to be sponsoring this charitable event and hope to see as many readers there as possible. For further details and to register a team.

Consultants Reunited

We've been toying with the idea of totally revamping Consultants Reunited to make it a more useable tool for staying in touch with former colleagues and associates - and I wondered if you'd like to provide any input re. the changes you'd like us to make?

When we set the service up we were very conscious of the fact that we didn't want random people to be able to contact you unless they did genuinely know you. Otherwise we felt you'd end up with random headhunters, contractors and the like all contacting you looking for work or wanting to sell their services...

However, we acknowledge we've gone too far in the other direction and although there are thousands and thousands of consulting alumni registered, activity is being restricted because it's hard to find others that you know...

So my question to you is - what changes could we make that would move the service in the right direction, without turning it into a LinkedIn type service where you end up being contacted by people that are not genuine contacts at all?

Anyone with any thoughts, please post them as a comment here. All contributions gratefully received. Rgds, Tony

Management Consultancy recruitment update

Following hot on the heels of last week's Consultancy Careers Fair, I wanted to take a few minutes to record my thoughts on the direction the management consultancy sector is headed, particularly as regards recruitment.

To listen to this 5 minute snapshot, simply turn up the volume on your computer and press the play button below

Financial Services + Public Sector consulting show best prospects for growth

There are some fascinating results emerging from our first Quarterly Barometer of the Consulting Industry (if you haven't taken part yet, click here to do so right away).

The respective health of the US and UK consulting markets are portrayed - as viewed by you our readers. We also look at the consulting sectors that hold the best promise for growth and the preliminary results show consultants are very bullish about prospects for the following sectors:

• Public Sector
• Financial Services
• Healthcare & Pharma
• Telecoms, Media & Entertainment

Also fascinating are the new technologies and emerging business trends that you feel will present consultancies with considerable new revenue streams in the next years. The full report will be published at the end of the quarter. To be one of the first to receive a free copy of this, simply take part in the short survey today.

Are Management Consultants Worth Your Time And Money

To avoid group think or to obtain objective input to the decision process retaining a management consultant may be one of the best choices you can make. A well qualified consultant can lead you to solutions that are unaffected by internal biases and influence. Using experience that comes with multiple years of exposure to diverse companies and industries a consultant will quickly determine the root cause of a problem, assess the impact, guide you to a solution fitting your company and culture, and develop a plan of action that implements the solution with the minimum disruption at the least possible cost.

Completing the action plan could signal the end of the engagement but a consultant worth their salt should have the ability to help you implement the solution, either directly or by recommending other qualified vendors, or by coaching key employees to implement the recommended actions.

Once you decide to hire a consultant how are you going to choose one that best suits your company? Searching the internet will provide thousands of possibilities, but then what? Are all consultants created equal? If not narrowing this list to only include those with serious potential becomes a major undertaking. Searching for and choosing the right consultant should begin in one of the following places: those you've worked with in the past, those recommended by a trusted advisor or those recommended by a trade association representing your industry.

Once you develop a reliable list of three to five prospects subject each to the same interview process you would use to select a key team member. The final selection should be based on the level of trust you can develop with the consultant, their experience and their ability to fit in with your company. Regardless of the length of engagement if you can't trust your consultant, if they don't have the skills and experience you need, or if they rub everyone in the company the wrong way you can't win. You'll spend the remainder of your time on earth telling everyone it isn't worth their time to work with outside consultants. Send your money to me; it will be just as well spent.

So now that you've selected a consultant you can work with what's next? The absolute first thing you must do is to develop a concise, unambiguous statement of work, interim goals, and a schedule. These need to be included as a binding part of the contract and any change to the scope of work must be bilaterally agreed on and incorporated into the contract. Second, use the time between ratification of the contract and the start work date to arrange for facilities and/or network access. Don't put yourself in a position of having to pay for dead air time. Assemble all the materials the consultant will need to begin their task and schedule any previously identified meetings to reduce possible conflicts. Finally, if appropriate, let the employees know that there will be an unfamiliar face around the coffee pot.