Originally when an organisation needed external senior level help to help with transition or change, the only option was to engage experienced management consultants. Typically the consultant’s role was to advise, guide, recommend or facilitate and most importantly to persuade the client to accept their recommendations. Implementation of these recommendations was not in their remit, this was the responsibility of their client team. To this end consultants are utilised by the client to help their management decide between a number of strategic options; either to :- acquire or divest; expand or consolidate; centralise or decentralise; outsource or integrate or perhaps to validate a number of alternative strategies.
During the last ten years or so a different phenomenon has emerged – board level ‘Interim Management.’ ‘Interims’ were utilised initially as turnaround managers, often in high profile rescues. The recession during the nineties opened up this market further, generating candidates and furthermore ‘opportunities.’ During this time a new breed of ‘Interim’ was being recognised - the senior professional ‘Interim Management Executive,’ specialising in change and transition management. This group is motivated by the challenge of change. They are often financially independent and are not between jobs, rather choose to move from assignment to assignment. Given the right opportunity and if very carefully selected, they can add value to the business very rapidly.
‘Interims’ are required for various roles and are preferred choice over consultants.
Where a client has a critical vacancy pending recruitment. For instance if a client requires a Senior Executive, this can often take around six months or more and often the client cannot afford to wait.. The primary requirement in this instance is continuity of day-to-day line management to ensure business momentum is maintained. Candidates must be immediately available and suitably over-qualified to be credible and effective from day one; thus enabling the client to be presented with an outsider’s view of the business and to achieve some rapid deliverables. The ‘Interim’ has no career aspirations with the client, they’re able to think and act quite objectively and take unpopular decisions if necessary.
‘Interim Executives’ have ideally been used for crisis management or turnaround situations. This is where the ‘Interim Manager’ can offer an ideal solution – as they are an – ‘outsider’ and as such are able to focus solely on the problem at hand and can also be a heavy hitter, specialising in turnarounds. Time is vital as the business would, inevitably, be running out of money and be in imminent danger of being put into receivership. There is almost no time to review the situation. Immediate action is required to save the business. The ‘Interim’ will review and then plan and implement, while at the same time achieving ‘quick wins’ wherever possible. The approach would be pragmatic, focused on short term cash flow and day-to-day survival, whilst building a medium-term plan. A very ‘hands-on’ approach is required; this is definitely not a typical role for a management consultant.
There are many planned change situations in which the client recognises the need to import additional management skills and experience. Until recently this would have been the exclusive domain of the management consulting firms. Consultants would inject their expertise and clients would have the added security of making decisions, backed by ‘blue-chip’ recommendations. The management consulting firms have tailored their expertise accordingly and would offer a broad spectrum of services, from the totally strategic to the more highly technical. Employing the brightest graduates and generating much of the ‘thought leadership’ behind new business methods. Unfortunately few of their employees would have had line management experience and the firms would have been critised that their clients were left with little more than a detailed report, responsibility being left with the client for making the changes recommended and for acquiring the necessary skills.
Meanwhile ‘the pool’ of ‘Interim’ talent has increased in size and quality, a large number of U.K. business leaders realised that professional ‘Interim Managers’ can be used for much more than filling a critical vacancy. Clients have found that ‘Interims’ are an effective strategic weapon to gain competitive advantage, through rapid and lasting change. They bring in a refreshing degree of objectivity and prove to be excellent at building and leading internal teams and managing external suppliers – including consultants! ‘Interims’ work from within, leading the business team and achieving much greater ‘buy in’ to changes. Changes introduced
In this way are far more resilient than those of an outside agency. Importantly, therefore, management is not outsourced to a third party. Finally, ‘Interims’ are available at a fraction of the cost of management consultants. ‘Executive Interims’ are no longer viewed as a distress purchase of last resort, rather as a valuable new resourcing option for accelerating the rate of change. This is selected to champion the change process and to focus single mindedly on delivery.
The attributes of ‘Interim Management’ and consultancy differ enormously, both in style and content. If the client is seeking a practitioner to ‘make things happen’ winning co-operation of staff, then an ‘Interim’ would be far more appropriate; rather than a consultant who would provide analysis and ideas. A combination of both services could provide the ideal solution. Nowadays ‘Interim Management’ is increasingly displacing consultants in their key markets. Highly skilled ‘Interim Executives’ offer clients a ‘fast track’ method for achieving real and substantial change, based on ‘hands on’ experience. Results are achieved quickly and for less cost. Having an ‘Interim Manager’ you receive what you pay for – with a consultant you buy from the experts, but then have a trainee doing the job.
Clients are beginning to realise that it is possible to hire an excellent ‘Interim Candidate’ for a few months on highly competitive terms, in order to manage a programme of transition or to accelerate change, rather than for mere usage of ‘plugging a gap’ in an organisation, while recruitment proceeds. It falls on the client to select an ‘Interim’ provider very carefully. A specialist provider who should hand-pick the right ‘Interim Executive’ who is able to deliver more than the basic brief. The client should then feel confident that they have an advantage with ‘Interims’ as they gain the benefit of having an outsider with a great deal of experience in handling change, coupled with the fact that it is roughly half the cost of having management consultants.
Jobs In Management Consultancy
The following article arose from discussions between Mindbench and its clients about where candidates go wrong in interviews. This prompted us to carry out a qualitative survey with clients, candidates, HR personnel and recruitment consultants involved in the management consultancy sector to establish some of the key skills and major pitfalls of ...
Recruitment is buoyant - so is the number of candidates
The current market for recruitment at management consultancies is highly bouyant – indeed it appears set to reach record levels this year. However the competition for these positions is still intense, with record numbers of MBAs looking for work in the sector! There are over two hundred applicants for every role in strategy consulting - the vast majority of these will be screened out at the C.V. stage and go no further – but if you do get through to the interview stage the following advice may prove highly valuable.
Understand whom you are applying to
A significant skill-set in consultancies of all types is research – and the less published information available the more important consultants become to their clients – and the more these skills are tested. It is very important that you don't waste time in the interview room – also that you display a genuine interest in the company and it's work – good research is the key! Research the company on the internet – not only on their own website, but follow any links they may give, search press articles, industry associations and look at their clients' sites. Try to fully understand what type of work they do and what is it like to work for them. Know which industries and sectors they operate in and who their major clients are. Never be afraid to pick up the telephone and ask other people's opinions. Talk to anyone who has worked in the sector or ideally at that firm! Again, a good recruitment consultant should be able to put you in touch with such people.
As in life – it is all about selling! In this case you are there to sell yourself into the consultancy – make it easy for them to hire you! Show them how your qualifications, qualities and experience will match and enhance their own – but you can only do this successfully if you understand what they do and who for. Corporate culture has become more important in recent years and consultancies in particular have embraced this idea. Again their website should furnish you with a good overview of how they see themselves as a work-environment – but remember, this is how the like to see themselves. Speaking with a current or former employee will give you a better insight.
The ideal candidate
First of all we discussed the key characteristics that a candidate should possess and - crucially - be able to demonstrate during the interview process:
• Strategic thinking - is this candidate able to think in terms of strategic direction?
• Analytical rigour - does this candidate think in a logical, methodical way?
• Mathematical ability – does the candidate have the mathematical aptitude to cope with financial modelling, understanding of statistical analysis, corporate financial reporting etc
• Commercial awareness - is this candidate able to think in terms of pricing, competitive environment etc?
• Intellectual curiosity - is this candidate sufficiently curious to go beyond the surface and seek out the detail and underlying reasons?
In addition to identifying these specific qualities a number of less tangible facets were mooted. These are traits that a consultancy would ideally like all it's consultants to have, but are rather more difficult to identify or display:
• Drive – has the candidate demonstrated the necessary levels of drive and ambition so far in their career?
• Focus – can the candidate demonstrate the ability to ignore distractions and follow the main thrust of a project?
• Ability to manage people – has the candidate shown a willingness/ability to manage others, in any environment? This can be managing down (staff, subordinates), managing colleagues or managing upwards
• Commitment – is there a willingness to work long hours and under pressure
• And finally, “Depth of character” – this last trait proved the most difficult to define. The following quotes from Consultancy Recruitment Heads were inciteful in summarising their views:
“As long as the candidate is reasonably intelligent and willing to work hard we have in place training plans and mentoring systems that will enable us to pass on all the skills our consultants need to fulfil their roles – the one thing that you cannot teach is character... and it's probably the most valuable trait of all!”
“How do you recognise it in interviews? We look at the prepared responses that candidates give to the more predictable questions, and we also try to ask them some questions they won't be prepared for! But ultimately - you know it when you see it!
Successful interviewing
It is in the consultancies' interests to allow you an opportunity to sell yourself to them. They want you to be able to demonstrate your qualifications, your abilities, your enthusiasm and – to some extent – your personality!
You need to be able to do this effectively and efficiently – so BE PREPARED!
Preparation will allow you to speak fluently about whichever facet you are called upon to discuss – as well as talking about yourself and your achievements in a structured and logical manner. These are all highly attractive abilities in a consultant!
The best way to prepare for this is PRACTICE!
• Think about the questions you are likely to be asked
• Search on the internet and in libraries for further examples
• Talk to the recruitment consultant or the interview co-ordinator
Work out some answers to these questions that allow you to show your best qualities and highlight your achievements.
We would also highly recommend that you practice answering these questions out loud. Find some friends or colleagues and arrange to spend some time asking each other interview-style questions and listening to responses. Discuss your own and others performance – there is no substitute for ‘performing' in front of other people!
The ultimate goal in these situations is a difficult balance to achieve:
Both J Hadley & Tara Mcgovern are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
J Hadley has sinced written about articles on various topics from Interview Questions, Fitness and Education. J Hadley writes on behalf of Executive Interims - Supply Chain Practice. See:. J Hadley's top article generates over 12100 views. to your Favourites.
Tara Mcgovern has sinced written about articles on various topics from Interview Questions. . Tara Mcgovern's top article generates over 720 views. to your Favourites.
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