Hiring the right management consulting firm
Management consulting aims to help businesses improve their organizational efficiency and overall profitability by streamlining processes, developing a better chain of command and hiring the right talent. Good management consultants help you increase levels of employee accountability, form sounder business strategies and harness technology for the betterment of your company.
The Role of Management Consultants
It is common for a management consulting firm to approach client needs by defining the distinct operational "spheres" that make the client's entire family of operations. Each sphere is then individually and thoroughly analyzed; consulting and management professionals look at both the theoretical and philosophical underpinnings of the company's approach to its operations as well as the actual results of those approaches in everyday practice.
Depending on the size your organization, these distinct operational spheres may include anything from growth strategies and marketing to talent acquisition and sales. Aspects of supply chain management consulting and CRM consulting also form part of a complete operations management assessment.
However, one of the primary areas of focus is the company's executive structure. Without the right personnel filling the right leadership positions, it is virtually impossible to create a working environment that fosters top-to-bottom success. Executive consultants can be brought in to evaluate the effectiveness of current management, and many large management consulting firms have corporate staffing capabilities. They can help you identify and solicit new candidates to join your executive team, or you can outsource this to a specialized recruiting firm.
Choosing the Right Management Consulting Firm
It's important that you thoroughly research all management consulting firms you're considering very closely. The management consulting industry has been harshly criticized in some circles for failing to provide meaningful analyses despite fees that can become very high. You need to know how to recognize a good firm from a bad one.
Good firms have proven track records. They can back up their claims with case studies that reflect their success in improved company numbers, particularly financials. They have tried-and-true techniques that are both time-honored and relevant to the needs of today's industries and are constantly looking for ways to improve their approaches and results.
Questionable firms, on the other hand, are slaves to trends in corporate management. They'll use a lot of buzzwords and offer vague promises that have negligible results. Your best bet is always to ask for professional references and case studies that show the company's management consulting has had lasting, quantifiable and positive effects in the past.