A number of high-profile consulting firms have been reeling from the impact the NPfIT project has had on their finances, with cash either coming into the businesses far slower than anticipated - or provisions having to be made for expected future losses on the work. This is having a very real effect on the consulting workforce, with many firms financially strapped and unable to push through the salary rises that many in the industry have been expecting from the resurgent industry.
As if these financial woes were not bad enough, the consulting industry is now to be hit by a further NHS blow in the form of bad press. The Guardian and Accountancy Age are just two publications that are today covering the news that the National Audit Office's review of the NPfIT project is to be reopened - only weeks after it was given a clean bill of health in an NAO report. The decision tees up weeks of potential bad press for the consulting industry, as problems with the project are dragged up again - and consultancies are made the scapegoats for what is proving to be a political dream that's exceptionally hard to realise. Expect this one to drag and drag through until Christmas time at least...
Tuesday, September 5, 2006
Tuesday, August 22, 2006
A lesson in consulting's murky past
I was made aware quite some time ago of a new publication being launched this year, by Chris McKenna of Said Business School. Entitled "The World's Newest Profession: Management Consulting in the 20th Century", the book was set to chart the rise of the management consultancy profession and how alumni of the top consulting firms have come to yield such power in today's corporate world.
The publishers have yet to send through my review copy, but a piece in the Observer this last week reviews some of the key messages to emerge from the book. One observation is how the consulting "profession" came to exist thanks to changes in legislation in the US that essentially created a need for consulting professionals. It's then suggested that changes in legislation ever since - most recently in the form of Sarbox - have stimulated further waves of demand for our services and helped to sustain the growth of the consulting sector.
Unfortunately much that is published on the subject of consulting these days seeks to portray management consultants as underhand and undeserving of their success. Similar vibes emerge from this review of the book, though it is unclear whether it is the Observer's take on McKenna's work or the actual content of the book itself that is to blame.
Looks like an interesting read nonetheless, if only to gain an understanding of the roots of the consulting industry.
Enjoy. Tony
The publishers have yet to send through my review copy, but a piece in the Observer this last week reviews some of the key messages to emerge from the book. One observation is how the consulting "profession" came to exist thanks to changes in legislation in the US that essentially created a need for consulting professionals. It's then suggested that changes in legislation ever since - most recently in the form of Sarbox - have stimulated further waves of demand for our services and helped to sustain the growth of the consulting sector.
Unfortunately much that is published on the subject of consulting these days seeks to portray management consultants as underhand and undeserving of their success. Similar vibes emerge from this review of the book, though it is unclear whether it is the Observer's take on McKenna's work or the actual content of the book itself that is to blame.
Looks like an interesting read nonetheless, if only to gain an understanding of the roots of the consulting industry.
Enjoy. Tony
Tuesday, August 1, 2006
Consulting lifestyle issues
Consulting lifestyle issues - has anything changed?
Just recently got back from vacation and one of the most pleasant aspects of my holiday was not worrying whether I'd get disturbed by urgent calls from the office. Partly this is an acknowledgement of the trust I have in our talented team (thanks all) - but it particularly stood out as it's a degree of relaxation totally at contrast with my experiences as a consulting employee. Back then (pre-2000) interruptions to weekends and holidays were a major source of discontent - and indeed even the possibility of being disturbed was enough to take some of the shine off of one's free time.
During the hols I met up with a friend who's now leaving consulting for these very reasons. Whilst on holiday, a call came in asking what time his plane was touching down on his return. The consulting firm in question wanted to figure out if there was a way of having the consultant get home from holiday, pack things and be back out on a transatlantic flight to start work with a new client that same day (a weekend, incidentally). This got me thinking, have consultancies really not moved on at all in this respect?!
So I thought it would be an interesting exercise to test the water with you all. Do you still:
o have a problem in your office that consultants are disturbed whilst on holiday or go away on holiday uneasy at the prospect that they might be called?
o leave the office for the weekend either knowing that you've got to come back in over the weekend or dreading the fact that you're likely to get a call asking you to?
o find a long-hours culture prevails?
I'd be interested in your feedback, because I'm convinced that simple company policies on these issues would make consulting employees sleep a lot easier and would have negligible impact on client delivery if the senior team members knew that they had to adhere to these rules.
So what have your recent experiences been - do you still suffer from these types of problems? Any others you'd like to flag up too? Post your comments below - I'm looking forward to reading them! Thanks, Tony
Just recently got back from vacation and one of the most pleasant aspects of my holiday was not worrying whether I'd get disturbed by urgent calls from the office. Partly this is an acknowledgement of the trust I have in our talented team (thanks all) - but it particularly stood out as it's a degree of relaxation totally at contrast with my experiences as a consulting employee. Back then (pre-2000) interruptions to weekends and holidays were a major source of discontent - and indeed even the possibility of being disturbed was enough to take some of the shine off of one's free time.
During the hols I met up with a friend who's now leaving consulting for these very reasons. Whilst on holiday, a call came in asking what time his plane was touching down on his return. The consulting firm in question wanted to figure out if there was a way of having the consultant get home from holiday, pack things and be back out on a transatlantic flight to start work with a new client that same day (a weekend, incidentally). This got me thinking, have consultancies really not moved on at all in this respect?!
So I thought it would be an interesting exercise to test the water with you all. Do you still:
o have a problem in your office that consultants are disturbed whilst on holiday or go away on holiday uneasy at the prospect that they might be called?
o leave the office for the weekend either knowing that you've got to come back in over the weekend or dreading the fact that you're likely to get a call asking you to?
o find a long-hours culture prevails?
I'd be interested in your feedback, because I'm convinced that simple company policies on these issues would make consulting employees sleep a lot easier and would have negligible impact on client delivery if the senior team members knew that they had to adhere to these rules.
So what have your recent experiences been - do you still suffer from these types of problems? Any others you'd like to flag up too? Post your comments below - I'm looking forward to reading them! Thanks, Tony
Wednesday, July 5, 2006
World Cup horror story
Watching the World Cup these last weeks has brought back vivid memories of one of the grimmest days of my consulting career. I wonder if any readers have similar tales of the woes they've faced as a result of working in the high-paced world of consulting? What events have you missed out on or traumas have you faced? Do post your comments / stories below...
Mine relates to the England - Argentina match in the 1998 knock-out phase of the World Cup. Working on a strategy assignment for an airline, I was fortunate enough to be bumped up to first class on the night of the match. An avid football fan, I was however mortified to be on an overnight flight at the time of England's game - but still relatively junior in the firm there wasn't much I could do about it...
Anyway, the stewardesses came round and asked if the 1st class passengers had any particular requests for the flight. My colleague and I asked if the pilot could radio the ground and keep us abreast of the score situation in the England vs Argentina match. Much to our surprise our request was duly passed on to the cockpit and sure enough a short while after the match began we learnt that England had gone 1-0 down to an early goal.
Some time later, with dinner served, the pilot piped up that England had fought back and the scoreline was now 1-1. We regained our appetite, the beef wellington tasted somehow better and we felt a new wave of belief in the team.
Then around what must have been full-time he came on again - Michael Owen had scored a wonder-goal and England were 2-1 to the good. Buoyed by the news and the fact that only minutes of the game remained, we got ourselves some champagne and toasted England's passage to the next round - while all those around us settled down for a night's sleep.
*****
My eyes squinted open to the sound of the pilot on the PA system again. Pulling my blanket off I heard him say "for those of you who were following the England match, the news isn't so good. It was back to 2-2 by half time and then Beckham got a red card. It went to penalties and England will be on a plane home later today..."
What a depressing way to start a week of consulting! It's one thing to have your beloved team lose at the World Cup - but to celebrate a historic victory only then to discover that you lost was truly horrible.
The pilot had, it seems, been receiving updates only sporadically and had had to stop the announcements once passengers started going to sleep. So much for the feel-good factor of flying first class!! And so much for the desirable jet-set lifestyle...
Got any such tales of your own from your time as a consultant? Do feel free to post them below.
Tony
Mine relates to the England - Argentina match in the 1998 knock-out phase of the World Cup. Working on a strategy assignment for an airline, I was fortunate enough to be bumped up to first class on the night of the match. An avid football fan, I was however mortified to be on an overnight flight at the time of England's game - but still relatively junior in the firm there wasn't much I could do about it...
Anyway, the stewardesses came round and asked if the 1st class passengers had any particular requests for the flight. My colleague and I asked if the pilot could radio the ground and keep us abreast of the score situation in the England vs Argentina match. Much to our surprise our request was duly passed on to the cockpit and sure enough a short while after the match began we learnt that England had gone 1-0 down to an early goal.
Some time later, with dinner served, the pilot piped up that England had fought back and the scoreline was now 1-1. We regained our appetite, the beef wellington tasted somehow better and we felt a new wave of belief in the team.
Then around what must have been full-time he came on again - Michael Owen had scored a wonder-goal and England were 2-1 to the good. Buoyed by the news and the fact that only minutes of the game remained, we got ourselves some champagne and toasted England's passage to the next round - while all those around us settled down for a night's sleep.
*****
My eyes squinted open to the sound of the pilot on the PA system again. Pulling my blanket off I heard him say "for those of you who were following the England match, the news isn't so good. It was back to 2-2 by half time and then Beckham got a red card. It went to penalties and England will be on a plane home later today..."
What a depressing way to start a week of consulting! It's one thing to have your beloved team lose at the World Cup - but to celebrate a historic victory only then to discover that you lost was truly horrible.
The pilot had, it seems, been receiving updates only sporadically and had had to stop the announcements once passengers started going to sleep. So much for the feel-good factor of flying first class!! And so much for the desirable jet-set lifestyle...
Got any such tales of your own from your time as a consultant? Do feel free to post them below.
Tony
Monday, May 22, 2006
7 tips for candidates
Management Consultants typically change jobs every 3-4 years, seeking greater fulfilment, financial reward, recognition, appreciation.What is absolutely critical when you're moving is to ensure you:
i) move for the right reasons
ii) find a firm that can genuinely deliver on the changes you want to see happening in your career / life
iii) do what's necessary to maximise your chances of success in this move
With this in mind I've been "penning" a tips report for consulting candidates, possibly as a prelude to writing a book on the subject. If you'd like a free copy of the PDF tips report, just email me on tonyr@top-consultant.com referencing the blog as the place you heard about the report...
Tony
Wednesday, May 17, 2006
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
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
Wednesday, May 3, 2006
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
"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
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