McKinsey -- Opus Dei?

Saw an interesting article on Bloomberg this week in which McKinsey and Roland Berger Strategy Consultants are said to be "secretive societies" much like Opus Dei. Very topical - and as an ex-RB consultant myself, something that immediately caught the eye.

The article actually centres on the publication of a new "consulting exposé" book, which critiques the secretive worlds of firms such as McKinsey & Roland Berger. And whilst I've slammed the work of David Craig for being too one-sided, this new release appears at first glance to be more balanced...

"Consultancies have a strong ability to create priorities. What they can do is force companies and executives to set goals. And they can ask strategically important questions because they come from outside and have certain experience. They can also use knowledge from previous consulting contracts to help clients."

So we're not all bad then - not all out to plunder our clients with no tangible return for our fees. There's also a valid commentary on clients' increasing professionalism in managing the consulting projects they initiate - and taking some responsibility themselves for seeing that the project does not get waylaid.

My German's pretty shaky though, so I'll have to leave the detailed appraisal to others. If any readers want to add comments on this new work, feel free to do so here...

Tony

Hiring friends of friends...

Just came across an interesting article for recruiters desperately struggling to reach their sky-high recruitment targets. You'll recall that back when we published our 2006 Recruitment Channel Report we highlighted the fact that candidates' preferred method for finding a new job was through a personal referral channel. That's to say a consultant's career path can be greatly influenced by the opinions of friends and alumni - and that they are particularly likely to apply to a firm where an existing contact has been able to get them a "foot in the door". Firms with really cutting edge referral schemes are able to gain a big advantage as a result.

"Using the buddy system" caught my attention because it expands both on why such schemes hit the mark when it comes to attracting candidates... and also quantifies the potential impact of such schemes. One example is given in which a firm is recruiting 30% of its new hires through friends of friends.

Since Top-Consultant will only ever be one component of a firm's recruitment strategy, I find these types of insights fascinating - and I hope you do too. Click the link above for the full article.

Rgds, Tony

Quarterly update

Once every quarter I like to record a short update aimed at candidates looking for a job in consulting. We're in contact with tons of management consultancy recruiters, so this is a good way for us to impart to you what the state of the market is really like - and what you need to do to secure a new job given current market conditions.

I've just recorded the latest soundbite. Just turn up your volume and hit the play button below to tune in:



Regards, Tony

Accenture's NHS woes

Richard Granger has been taking a tough stance with Accenture over delays on its multi-billion NHS "Connecting for Health" contracts, forcing the global consultancy to take a $450m pre-tax profit hit in anticipation of future losses on the contract.

Accenture is facing calls to change personnel on the project and there seems to be a determination that public sector coffers will not bear the brunt of setbacks on the contracts. Accenture, meanwhile, is thought to be looking for a renegotiation of the contracts. Expect a turbulent few months of press coverage on this one...

Here are just a few takes on the situation:

NHS contract delays hit Accenture (BBC)
Accenture Gets a Little Sick (Motley Fool)
British agency expects Accenture to deliver on contract (Reuters)
UK NHS Blasts Accenture Over Delays (Datamonitor Computerwire)

I don't envy the consultants working on those assignments, do you?! Tony

Recruitment websites

Thanks to the 1,300+ management consultancy candidates that took part in this year's poll. It's critical for us as a means of keeping track on whether or not we're still the number 1 choice for candidates looking for a job in consulting.

Fortunately this year's results again show that we are top of the pile, with the majority of all respondents voting us their preferred site for finding a consulting job. THANK YOU for taking part and giving us this glowing endorsement.

Tony