7. West Monroe Partners
West Monroe Partners has been on a roll in the past few years, steadily climbing up our Best Firms to Work For rankings, moving up five spots from 15th in 2012 to 10th last year. For 2014, the employee-owned firm jumps another three spots on our list, landing at No. 7.
President Kevin McCarty says West Monroe has worked to create a people-first firm with a strong culture. And what could be more people-first than giving the company to its employees? At the end of 2012, the Chicago-based firm converted to an employee stock ownership plan, and the value of its shares more than doubled the following year. Talk about a morale booster.
"That was very motivating to our people. But morale here is not just about performance and results. Another contributor to current morale is the addition of our largest class of interns and new hires to date—more than 100 people. It's always exciting when the new group of campus hires starts. Their energy and spirit is contagious, and it motivates all of us," McCarty says.
West Monroe Partners has also been on a growth track (39 percent so far this year), which means it needs a strong feeder system for up and coming talent. "This translates into terrific and accelerated opportunities for our people to assume new roles, tackle new challenges, and take on leadership responsibilities not accessible to young consultants in most firms, or even senior roles at other firms which can be full at the top.
Accelerated development also comes from working with and learning from the best people. The work we do is fun, interesting, and collegial, but it is also very complex and challenging. It requires us to have great people who are able and motivated to make us even better. When we say that working at West Monroe Partners provides opportunities to work with the best people, we really can deliver on that," says McCarty.
The continued recognition as a Best Firm to Work For, McCarty says, sends a message internally and externally that its efforts to put people at the center of the organization is working.
"For our leaders, it also validates the strategies we have put in place to maintain a people-first organization that attracts and retains the best talent. We feel pride in the fact that, without outside funding, we have gone from a small start-up firm to the size and scale we are today, and it's turning heads in our industry.
In fact, we are flattered to see other similarly sized firms considering some of the strategies that have made us so successful, such as ownership structures and training investments. As they say, imitation is the sincerest form of flattery."
What's your top priority the next 12 months?
President Kevin McCarty, says: "One priority is to elevate our brand recognition in the marketplace. We are honored to be included in the same ranking with world-class firms and to know that we have developed distinctive brand recognition within our profession. But we still have work to do to gain the same level of prestige and recognition in the broader marketplace. A second priority is to sustain our strong growth. At our size, it is difficult to grow at the same pace purely through organic means. We will augment organic growth with selective acquisitions. We completed two acquisitions last year that solidified and extended our capabilities in key areas. We will look to do the same over the coming year (and years.) Finally, we will continue to focus on building the same type of scale we enjoy in Chicago on both coasts."
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