| | By Mindbench
... continued from
page 3
4) Minimising the
impact of redundancies
Inevitably, some
consulting firms will
need to consider making
redundancies if their
business volumes shrink.
Firms should look at
potential scenarios for
the next year and create
contingency plans of what
they would do if their
business volumes fall by
10%, 20%, or 30%.
They need to limit the
potential damage to their
future capacity in the
firm. They should think
first about whether
people can be usefully
redeployed into other
areas of the firm, and
also what the scenarios
could be in terms of the
market cycle – and if
they can afford to wait
until the market
improves. Firms could
consider offering paid or
unpaid sabbaticals to
consultants whose skills
could be useful later in
the cycle, and deferring
start dates for new | |
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| | graduates. Some clients,
including some Big Four
consultancies, are also
using the downturn as an
opportunity to rigorously
apply the performance
review and management
process and exit
under-performers from the
business. This is
preferable to the
redundancy process since
it allows these firms to
upgrade their quality
without losing
significant capacity.
Where redundancy is
applied, the process used
should be based on clear,
predefined performance
metrics together with
skill requirements for
the current and future
business, rather than
last-in-first out (which
could suggest age
discrimination) or
whether the consultant is
well liked by their
manager. Voluntary
redundancy with financial
incentives might be
preferable to compulsory
as it could help to
ensure a better morale
amongst remaining staff
as well as maintaining
bridges with the | |
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| | consultancies, including
some of the leading
strategy firms, perform a
significant share of
their business with
alumni of their firm.
Offering assistance to
people who are leaving,
as well as regularly
maintaining contact with
their alumni through
alumni networks will help
consultancies re-hire as
required as well as sell
more work via referral.
Firms which plan ahead
and think about the
long-term as well as
their short-term
recruitment and
resourcing goals are the
ones which will benefit
most from the current
market uncertainty.
Mindbench is holding a
special recruitment
master class in January,
addressing the people
issues associated with
the recession for
consultancy firms. If you
find this article
interesting and would
like a more in-depth
exploration of the
challenges ahead and how
consultancy firms are
addressing them, please | |
|
| | register your interest.
'How to emerge
fitter, leaner,
stronger!' HR and
Resourcing in the
downturn - an MCA
Masterclass 28 January
For a more in-depth
understanding of how to
benefit in the current
market and to hear about
best practice in
recruitment from Big Four
partners and directors
from leading consulting
firms you should reserve
the 28 January in your
diary.
This event is aimed at
senior managers and HR
professionals with
responsibility for
recruitment strategies in
consulting firms over the
next two years, as well
as all those involved
with the resourcing and
management of individual
projects. For further
details contact Danielle
at
danielle@mindbench.co.uk
.
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