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"post_content": "Should consulting firms do a better job of retaining staff? If so, how?",
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The salary and commercial experience are clear pull factors but what do firms do to make us *stay*? Our work is pretty relentless, you're siloed heavily, there's a lot of admin/management overhead, the firm is pretty metrics-driven, the Big 4 are risk averse (by virtue of being accounting firms) and stifle innovation by hierarchy, achieving a work-life balance is difficult. With other industries making efforts to retain workers (e.g. Through flexible/unlimited vacation packages, office-based perks like childcare, gyms, in-house caterers), what exactly do MCs do to retain staff? PwC has been v good to me - I joined at 25 and spent 6 years being based in 3 countries and working in nearly 20 (now I'm entirely US-focused) and I'm grateful. But now I'm 31, want to start a family and, basically, not work the crazy hours I did in my Associate and Senior days. Consultants have highly marketable skills, relevant for a number of industries in the private sector, in government or institutions, foundations, non-profits and start-ups - to name a few. Maybe exiting is the option for those who can't/don't want to hack it any more and can join one of the above. I'd much rather a sustainable career pathway at an MC was found...
Actually I think the model is based on shedding people as they progress on their career so not sure this is really a big priority other than appeasing a few "top performers" who they think can go the distance
Nice try HR
Most of the recent layoffs are because they are doing too well at retaining people. Just sayin'
I think trying to staff locally would help. It's crazy how many people fly out every week only to have others fly in. Not because of skill set, but because staffing is largely done through networking rather than anything centralized.
👏👏👏👏 @OP writing a novel in the comments
Yes and no, gotta have motivated people. Consulting is a hustle. If you aren't motivated and willing to put in your dues industry is a better place for you...
Apply a compa ratio based on SL, SSL, pillar, region and rating. For example: PAS transactions performed 32% over last year (assign a performance multiplier based upon Pas, Tax, Reward and Transaction Performance) * rating * base comp = bonus. While not perfect, this is directly tied to your group's individual performance and incentivizes region success.