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This Week In The Profession
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Towers Perrin Merges with Watson Wyatt in $3.5B Deal
Towers Perrin Forster & Crosby and Watson Wyatt Worldwide unveiled a plan to merge in an all-stock deal valued at about $3.5 billion. The name of the combined human resources firm will be Towers Watson & Co.
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Laudicina Re-elected Chairman of A.T. Kearney
Paul Laudicina was re-elected managing officer and chairman of the board by A.T Kearney’s 235 partners. His second term runs through Dec. 31, 2012.
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Capgemini Opens Outsourcing Center in Romania
Capgemini expanded its presence in Eastern Europe by opening a new technology center in Iasi, Romania, where it will perform First Line IT Help Desk Support and Business Continuity work for Capgemini’s outsourcing clients.
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Public IT Firms Face Mounting Challenges
This is not an easy time to be a public IT consulting firm. Based on a sampling of leading public firms, top lines are under pressure because projects are getting smaller and taking longer to sell.
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A.T. Kearney: More Trouble for Auto Industry
A.T. Kearney's 13th Annual Auto Study forecasts that U.S. auto sales will contract an additional 24 percent to 10 million in 2009, though it will rebound a bit by 2012, under the most likely scenario.
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BCG Says Consumer Confidence High in India
The Boston Consulting Group reports that consumer confidence remains high in India, a stark contrast to most Western markets where consumers are making significant cutbacks.
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Archstone Launches Service for PE Clients
Archstone Consulting recently launched a new advisory service aimed at private equity firms.
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Rankings
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The 2008 Best Firms to Work For: An Overview
The consultants have spoken. And this, our eighth annual Best Firms to Work For list, is the result.
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The 2008 Best Places to Stay
Who better than you, the management consultant, to sound off about what it means to be a business traveler today?
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Seven Small Jewels 2009: The Hidden Gems of the Profession
Small firms are no longer flying under the radar. In these uncertain times, that much we can be sure of.
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Interviews
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One on One With Kurt Salmon Associate's Pam Beckerman
During the last downturn (2001-2004), Kurt Salmon Associates’ executives sat down with every firm employee and discussed what a long-term career at the firm would look like. By letting consultants know what would be expected of them to be promoted, and what resources the firm would make available to help them throughout their career, consultants were less anxious to leave the firm when the economy improved in late 2004 and early 2005. After the program was implemented, voluntary attrition rates fell from the 16 percent to 18 percent range, down to about 12 percent. The lower-than-average rate of voluntary attrition gave the firm a competitive advantage over competitors who saw their attrition rates spike during that time.
Consulting’s One-on-One
sat down with Pam Beckerman, KSA North America’s HR Director, to discuss what lessons firms can learn from her experience.
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One on One With Stroud Consulting's Nathaniel Greene
One of the upsides to the downturn is that recruiting top talent is far easier and more cost effective than during a more positive economic swing. That’s certainly the experience of Nathaniel Greene, CEO of Stroud Consulting, a soon-to-be 60-person operations management firm. He is on pace to grow his firm’s headcount by 20% and expects to add staff at about that pace next year.
Consulting's One-on-One
sat down with Greene to discuss the advantages to hiring in today’s economy.
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One on One with Jessica Blume, National Managing Director for Clients & Industries, Deloitte Consulting
Watch Jessica Blume, national managing director for Clients & Industries for Deloitte Consulting, discuss more about her clients and financial recovery.
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One on One with Waite Associates' Thomas Waite
There is no doubt that this recession has been both brutal and prolonged for many consulting firms. And Thomas J. Waite, President and CEO of Waite Associates, should know. He’s on the front line, advising the leadership teams of consulting firms on how to improve their market position. That’s a difficult task, given that in today’s environment revenues are declining, billable hours are falling, clients are slower in paying, and, as a result, partner incomes have dropped and scores of consultants and staff have been laid off.
Consulting's One-on-One
sat down with Waite to discuss why he thinks a recovery may be sooner than most think and what firms should do in the meantime.
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Upcoming Events
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Top 25 Consultants 2009 Dinner
This unique event brings together consulting leaders from some of the world’s top firms on June 17, 2009 at the Union League Club of New York.
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Consulting
Poll
Which industry sector will provide the most opportunity over the next six months?
Healthcare
Public Sector
Financial Services.
Technology
Energy
Retail
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Data Watch
How satisfied are you with your firm's... (percentage answering "very satisfied") ?
Source: Consulting magazine's Best Firms to Work For survey, 2008
Client Industries
Insurance
Packaged Goods
Energy
Healthcare
Financial Services
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Public Sector
Manufacturing
Communications
High Tech
Focus: Client Industries
Healthcare
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So, What's Next?
Jessica Blume is a national managing director for Clients & Industries for Deloitte Consulting. While there’s no denying that its been tough sledding of late for consultancies and clients, Blume is refreshed by clients who suddenly want to talk about the other R words: rebound and recovery. She also sees opportunities in what might seem like unusual places. Consulting recently caught up with Bloom to discuss this newly found optimism among clients.
Public Sector
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Breaking Down a Breakup
Deloitte’s $350 million public services acquisition of BearingPoint means 4,200 new Deloitte consultants
Energy
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The Stimulus Effect
How recovery funds are generating consulting opportunities
Financial Services
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Out of Office: Milestone's Jess Varughese
Jess Varughese is the Managing Partner of Milestone, a two-year old financial services consulting boutique. In the midst of what he calls “the worst environment that the financial services industry has ever seen,” it would be easy to focus on day-to-day client struggles and ignore firm culture. Instead, Varughese turned to community service activities to bring his firm together.
Service Lines
Strategy
HR
IT
Operations
BAS
Focus: Service Lines
Information Technology (IT)
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Geo Focus: A New Land of Opportunity
Large consulting firms have been in China for decades, investing in what is now a large and fast growing market. But there are still ample opportunities for small to mid-sized firms in China, if you understand the nuances of the market.
Strategy
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KIA Corner: Never Let a Good Recession Go to Waste
No matter what, consulting has gotten tougher. But there are some firms out there that seem to do surprisingly well. How come?
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Travel Advisory
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Flying the Stormy Skies
A grim economic outlook for airlines means heavily discounted fares for corporate travelers
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Continental, United Ink Cooperative Deal
Continental Airlines and United Airlines have announced a plan to work together to cut costs, generate revenue and better satisfy their customers. To this end, the two airlines will link their networks and services worldwide, and Continental will join the Star Alliance of airlines.
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Road Warrior: Flash Drives
Consultants on the move need access to tons of data. PowerPoint presentations, Word documents and spreadsheets by the gross are just a few examples of the variety of computer files that a consultant needs at his or her side at a moment’s notice. Nothing can turn a sleek presentation into a train wreck faster than a corrupt file or a failed hard drive. With a USB flash drive, back-ups of your critical files can easily fit in a device the size of a pocketknife. Here are a few solutions to help ensure that presentation nightmare will never happen to you.
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Book It!
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A Memo to the CEO: Marketing Matters
The Marketing Accountability Imperative
is a practical guide on maximizing the effectiveness of marketing investments by Prophet CEO Michael Dunn, along with marketing effectiveness guru Chris Halsall. In it, they attempt to sort through the increasingly complicated marketing world by offering advice on metrics and analytic options in order to ensure your company’s marketing strategy will result in long-term, profitable growth.
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Review: The Three Laws of Performance
The book centers on the application of “The Three Laws of Performance,” and features numerous examples of companies that have successfully utilized them.
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Review: Chaotics
In
Chaotics
, authors Philip Kotler and John A. Caslione pool their expertise to provide business leaders with a system for navigating the turbulent times by providing examples of the insights, strategies and tactics of top business leaders to help companies turn all the uncertainty into an opportunity to thrive in the worst and best of times.
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Review: Building a Winning Sales Force
In
Building a Winning Sales Force
, ZS Associates founders Andris A. Zoltners and Prabhakant Sinha, team with former ZS Associates principal Sally E. Lorimer, to give sales leaders the critical tools they need to create successful sales organizations in these tough economic times.
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Review: All For One
Ben Franklin said at the signing of the Declaration of Independence, “We must all hang together, or else we shall most assuredly hang separately.” This turn of phrase embodies the idea of All For One, the latest effort by author and consultant Andrew Sobel.
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Consultants on Consulting
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Improving Process Across Dynamic Business Portfolios
By definition, “process improvement” means to make things better. It’s not about fighting fires or managing crises as they come up. It is about setting aside the common practice of assigning blame for problems or failures and looking for better methods to react to dynamic market conditions.
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Bringing Cloud Computing Down to Earth
Executives around the globe are facing a conundrum. In the midst of widespread economic turmoil, there is a clear, collective mandate to cut the cost of doing business using technology.
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What if Consultants Didn’t Travel So Much? Seriously
Ahh, yes—the life of a consultant—fast-paced, cutting-edge work that is both personally and financially rewarding. However, with those benefits comes a laundry list of givens (that some might call drawbacks), which are considered part of the job for professionals in the industry. Long hours, stressful, high-pressure engagements, and of course—the endless travel.
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Government, Disasters and the Megacommunity
In recent years, we have become all too familiar with disaster: Hurricane Katrina. The Sichuan earthquake. California’s raging wildfires. The Indian Ocean tsunami. Myanmar’s tropical cyclone. The images are seared into our collective consciousness: broken levees and flooded attics; mothers digging through rubble in search of their children; entire villages swept into the ocean. Whether in Sri Lanka or San Diego, China or Louisiana, these disasters are humbling reminders of the power of nature—and clarion calls to action.
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