Firms Weigh in on 2020's Biggest Lessons and Takeaways

Below are the firm's responses we received by publication time, in alphabetical order.

Accenture

"We are no longer just navigating the COVID-19 crisis; we are facing a new reality, and its hallmarks are change, uncertainty and volatility. To navigate it requires  a combination of speed – the need for clients to move quickly in identifying and resolving challenges – and an increased appreciation among our clients on the value of technology in addressing those challenges. There are no longer questions or debates on whether technology is good or bad. Clients no longer are asking if they should embrace technology and digital transformation. During COVID-19 technology became a lifeline for governments, companies, and society, and we see that being completely embraced across industry. The change in technology that was happening pre COVID is only going to continue. And that places an enormous pressure on companies, both leaders and those who are lagging to really think differently about how they run their business."

-Annette Rippert, Group Chief Executive, Strategy & Consulting

Acquis Consulting

"Our biggest takeaway at Acquis is that our special culture and People First mantra allows us to thrive in even the most difficult of circumstances. Though this year was scary, especially this spring in our New York City headquarters, the team was still able to focus a lot of their energy on others around them and to make sure our business remained strong. Many of the things we implemented during the pandemic (e.g., weekly company meetings) will continue in 2021, even after people can collaborate in person. We have all learned that we can be successful during some of the worst of times, and that will lead us to continue to support each other and grow in 2021, both during and after the pandemic."

-David Kaufman, CEO and Managing Partner

Alvarez & Marsal

"As much as Alvarez & Marsal is known for successfully navigating our clients through turbulent times, 2020 presented us with challenges that we had to face for the first time. What got us through as a firm, and in the practice I lead, was simple: adhering to our core values, our commitment to support our people, our investment in our infrastructure to effect change, and our nimbleness to get the job done.

We believe we have hired the brightest talent, and their commitment to client service continues unabated. All of our people were put to the test professionally and personally in 2020. As leaders we worked to find creative and compassionate ways to support them. Our core values of integrity, quality, objectivity, fun, personal reward and inclusive diversity guided our actions and provided the bedrock of stability for our employees, our firm and our clients.

This foundation informed our ability to listen, to accommodate the health needs of our people and their families, and to rethink how we can further diversity around the firm. We are so proud of our employees. They jumped in to help their team mates above and beyond their day jobs. We have emerged from 2020 as a closer-knit firm, stronger and ready to meet business fluctuations and challenges. As a result, 2020 ushered in new mandates for A&M to grow and effect change that will benefit all of our clients and employees. We continue to be bullish about 2021 and beyond."

-Nick Alvarez, Managing Director and National Practice Leader of Alvarez & Marsal's Private Equity Performance Improvement Group

Catalyst Consulting Group

"This has been a year of immense change within the financial services industry. 2020 highlighted the gaps many financial institutions (FIs) had in their digital technology solutions and rewarded the early adapters of more digitalized businesses and customer engagement. We believe there is tremendous opportunity for FI's to benefit from modernization and partnerships with fintech companies. However, given the scramble 2020 brought to the industry, it is important FI's have a strategy behind any major changes. Going forward, executives will need to carefully assess who their customers are and what they want before implementing new technology or virtual applications."

-Paul Schaus, Founder, President, and CEO

Clearsulting

"Our biggest takeaway from 2020 is how critical communication is for both colleagues and clients, when isolation and mental fatigue are taking a toll.  It's hard when you can't see body language, when you can't stop by for a quick chat, when you can't connect in a non work setting. We have focused making use of video calls, virtual social events, using chat tools and text messages for short connects.  In 2021 we will over communicate with purposeful information and continue to utilize non-formal tools.  We believe consulting has changed dramatically and endless travel is a thing of the past but we look forward to targeted onsite visits to enhance colleague and client relationships and success."

-Tim Nicholls, Head of Innovation

Duff & Phelps

"Our people are our greatest asset, and this year has underscored that. As we continue to prioritize our employees, we are going into 2021 with a continued focus on diversity and inclusion, as well as development opportunities, connectedness and mental/physical wellness.

We have always been well-positioned to operate in periods of distress and this year we have proven our ability to weather the unprecedented. Our clients need our services just as much, if not more, during periods of uncertainty and our portfolio of service offerings allows us to serve clients in all environments, all over the world. In 2021, we are going to build on this momentum, continue to be acquisitive, and further develop our services to best meet the needs of our clients."

-Jake Silverman, CEO

EY

"At EY, our biggest takeaway from 2020 is resilience. Throughout this year like no other, we've seen our people continually exemplify strength and resilience in their personal and professional lives. With great patience and flexibility, we've transitioned the way we work and live, and united against social injustice, an important issue that required our heightened awareness and action. Amidst this backdrop, we have stood together as One EY, supporting each other, our families, and our clients as they experience their own challenges. We know 2021 will demand such courage and agility, as well.

COVID-19 has served as an accelerant in designing a different way for consultants to work and to deliver services to clients virtually. We will look back at this business environment in awe; in awe of how quickly our clients and our people moved to remote working. We have accelerated changes in our business relationships and operating model in the early months of the pandemic that would have taken years otherwise. What's more, the shift away from the typical road warrior lifestyle is opening up the industry to a broader and more diverse talent pool – a positive development that we will be happy to take with us into 2021. 

Empathy is another important value we've embraced this year and will carry into the next. The events of 2020 have shown us that developing a deeper understanding of one another has become a business imperative – one that connects organizations with clients and employees in ways that create long-lasting and loyal bonds. Leading with empathy can drive tangible business benefits by helping to foster trust and inspire teams internally, while at the same time building a more holistic understanding of your client and their needs."

-Steve Payne, EY Americas Vice Chair, Consulting

Kearney

"Especially in times of crisis and uncertainty, it is important to support one another and to genuinely ask "How are you doing?" Certainly, this year has been challenging and presented ups and downs that have impacted each of us in very different and personal ways – and affected how we approach our work with clients and colleagues.

For example, as the U.S. was confronted yet again with racial injustice, we learned that being silent brought pain to our colleagues and friends. Even when we did not know exactly what to say, saying something and offering support was vitally important. Moreover, it became important to have open conversations regarding the support that someone may need to help them get by both personally and professionally. Consultants and consulting firms often hold the attitude that we can put our heads down and work through any challenge. Personal health, aging parents, childcare, limited social interactions and other obstacles that we faced this year required that we understand and support one another more than ever in the past.

Clients face similar challenges and supporting them with no other agenda than being a sounding board was the most important reminder of the role consultants hold as trusted advisors. We never would have expected to build stronger connections as we stayed apart, but we did. We also launched virtual CxO exchange events to convene and support our clients by allowing them to broaden and extend their networks. 2020 provided a unique opportunity for us and many other companies to test and push our ability to work virtually. We learned new ways of working, but also saw the true value of in-person relationships and meetings, which cannot be replaced."

-David Hanfland, Head of Americas

KPMG

"My 2020 highlight is how well our people handled the workplace changes we all had to make, while they continued to deliver exceptional support for our clients. 

At KPMG, we had over 10,000 Advisory consultants who typically traveled 60-80% of their time; within a 10-day period in March, they were primarily working from home. Being able to do that and not miss a beat with our client commitments was phenomenal.

Our ability to deliver in a remote environment has accelerated and with that we are also focused on programs to support the work life balance and the health and wellbeing of our people. Our remote capabilities have the added benefit of reducing costs to our clients and lowering our environmental impact. As circumstances change and return to offices is phased in, we feel we can use all three legs of our stool: working remotely, from home if necessary, leveraging our expansive office network where appropriate, and being on-site with our clients when it's needed."

-Sandy Torchia, National Managing Partner, US Advisory

Point B

"Our biggest takeaway is that you can move faster organizationally than you think you can. We moved at warp speed in shifting our people from client sites to remote work.  Later in the year, we move incredibly fast in moving our resources away from shrinking markets to growing markets. Each time, we threw out our historical experience in driving change, set what felt like insurmountable goals and then let our people lead.  Each time, we beat the clock. Now in the era of innovation and disruption in the management consulting industry, we must continue to be light on our feet and constantly challenging ourselves to move faster."

-Brian Turner, President, Consulting

Protiviti

"Among the takeaways Protiviti gained from adapting to the challenges of 2020 was that we could operate very effectively while our people are working remotely. With more than 85 locations around the world, we reinforced our 'one office' mindset and continued providing our consulting services to our clients and supported one another. We learned it was important to stay connected to both our clients and our people, even if we could only do it virtually, and we used video conferencing not only for business connections but also for social connections. We reinforced our strong culture, enjoying coffee get-togethers, shared meals and even virtual wine tasting events. We also found we could successfully transition our robust training and development program to online.

In 2021, once the Covid-19 vaccines have been widely distributed and it's safe for our people to return to offices and to travel, I anticipate we'll work on-site at our clients' offices again, especially where they need our expertise on the ground. We'll return to our own offices with a flexible, hybrid approach to working remotely and in offices together. We'll continue some of our training online, however, we think it's valuable to go back to providing some of our training in-person. Additionally, we learned how important open, honest discussions about racial injustice in our society are and we plan to continue that dialog as we further strengthen our commitment to diversity, equity and inclusion."

-Joseph Tarantino, President and CEO

West Monroe

"Our biggest takeaway from 2020 is working with more agility. We've always considered West Monroe a "nimble" firm—it's one of our founding values. But when you're forced to coordinate and work with 1,500 people remotely as quickly as we did, we realized just how must faster we could work. We were able to shed some of the barriers to efficiency and rapid decision-making and I can't imagine we'll stop doing that in 2021 and beyond."

-Kevin McCarty, CEO