The 2018 Best Firms to Work For

What Makes a Best Firm to Work For?

To be named a Best Firm to Work For or a Best Small Firm to Work For, firms were ranked based on survey responses in six categories—each measuring a different aspect of employee satisfaction. The following describes the issues at play within each category:

Client Engagement This category reflects the quality of work consultants perceive their firm is doing. It is not a measure of the actual work being done, but the more valuable a firm's consultants perceive their work to be, the more engaged they tend to be in their clients'—and their firm's—success.

Firm Culture Firm culture reflects the shared values, standards, ethics and goals of a firm. Gone are the days when firms would hire a generation of future partners from a leading campus and hone their skills over a career. Today's firms are comprised of talent that has spent years at other firms, and in other industries. As a result, building and sustaining a strong culture becomes more difficult.

Firm Leadership Uncertainty tests leadership in big ways. The economic uncertainty of the new normal tests their decision-making and internal communication skills. In 2017, leadership had to chart a new course and generate confidence in the firm's direction. The more confidence the rank-and-file-consultants have in their leaders, the more apt they are to be happy at their firm. The opposite is also true.

Career Development The campus pipeline is just starting to be refilled, which will force some promotions up through the higher staffing levels. However, setting and communicating those goals is a challenge. Handling it well can make consultants want to stay with your firm longer; doing it poorly can encourage defections.

Work / Life Balance This category reflects how well consultants perceive their firm as enabling them to balance their life outside work. Given the heavy work and travel regimen required, this is a difficult task. Setting expectations and communicating what's expectated can go a long way to making consultants feel appreciated.

Compensation & Benefits This category reflects consultants' satisfaction with their compensation and non-cash benefits and does not necessarily reflect those firms that pay the most. The happier consultants are with their job, the more they're willing to settle for less money. Such is the case with smaller firms who continue to report higher satisfaction despite smaller paychecks.