| | By Tony Restell
Management
consultancy firms are
being torn apart by
surging levels of staff
turnover, according to
new research from
Top-Consultant.com
(http://www.top-consultan
t.com). Polling
consultants from the
leading firms, the
survey finds that staff
retention is likely to
deteriorate further this
year as the global
consulting recovery
presents consultants
with a wider choice of
career opportunities -
encouraging them to
leave their existing
employer in favour of a
new challenge.
The full report
reveals the strategies
that consulting firms
have been putting in
place to address the | |
|
| | retention challenge,
together with
consultants' views on
what their firm could do
to make them want to
stay.
In terms of key
statistics, the survey
highlights that staff
turnover rates have
already reached critical
levels in the UK &
Ireland market - with a
median rate of 20%
across the ~50 firms
surveyed. A significant
number of UK firms were
in the 25%-30% range,
reinforcing the
recruitment boom that
has gripped the market
for the last 9 months.
The US market's staff
turnover figures are
some way below,
reflecting the early
stages of the consulting
recovery there - whilst
the benefits of an | |
|
| Staff turnover in last 12 months % by region |
| | | |
| UK and Ireland |  |  20
|
| Rest of Europe | | 18.6
|
| USA | | 12.5
|
| India | | 10.7
|
|
|
|
| Source: Top-Consultant |
|
| | staff retention rates,
whilst 92.5% of
consultants believe
employers will find it
harder to retain staff
in the coming year in
the face of a rebounding
market. This huge
imbalance means that -
for most firms - staff
turnover is likely to
increase over the next
12 months.
Consulting firms can
take some comfort from
the fact that many of
the things consultants
stated would make them
stay with their existing
firm actually cost very
little to implement.
Market-beating salaries
were not consultants'
main consideration, as
the full survey
reveals.
Download your copy of
the full survey findings
at the following link: | |
|
| | retention_report.pdf
Survey data was
collected during the
second quarter of 2005
and includes
contributions from
consultants at global
brands such as
A.T.Kearney, Accenture,
Altran, Ariba, Atos
Consulting,
BearingPoint, Booz Allen
Hamilton, BCG, Boxwood,
BT, Capgemini, CSC,
Deloitte, Ernst & Young,
Gartner, Hedra, Hewlett
Packard, IBM Business
Consulting, L.E.K.,
LogicaCMG, m.a.partners,
Marakon, OC&C Strategy
Consultants, PA
Consulting, PKF,
Proudfoot Consulting,
PRTM, PwC, Roland Berger
Strategy Consultants,
RSM Robson Rhodes, SAIC
and Unisys | |
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