Management Consulting Key Success Factors
Recruiters of management consulting firms hire applicants who they think will become successful in the field of management consulting. However, though the process they follow is effective, real success of consultants can only be determined at the workplace.
Potential Success Determined during Recruitment Process
Since consultancy is a heavy responsibility, recruiters ensure that they hire the most qualified candidate for their vacancy. They usually receive thousands of job applications per year, and it is their duty to determine who among the aspirants can do the job well by thorough screening.
Preliminary Screening
Recruiters primarily assess the knowledge, skills and ability of candidates through cover letter and resume screening. Knowledge includes evaluation of general educational background, GPA and grades on major subjects, and for experienced hires, their technical know-how and the tangible results they achieved. When they assess skills and abilities, they go through extra-curricular activities and achievements enumerated on the job application.
Tests and Interviews
Some management consulting firms, such as McKinsey and Bain, weed out applicants through testing. Some administer verbal and numerical reasoning tests but others include personality tests, too.
In the consulting field, there are two types of interviews: behavioral (or fit) interviews and case interviews. In the former, interviewers ask situational questions to gauge the applicant’s interpersonal, communication and stress management capability. At times, this is done through phone interviews. Case interviews aim to find out if the applicant is capable of doing the main roles and responsibilities of a consultant. They are given vague problems to resolve within a limited period of time.
Indicators of a Management Consultant’s Success
While recruitment process is helpful in determining who will do well in the industry, firms only know the real score as soon as the newly hired starts working. In all cases, consultants are considered successful if they value integrity.
Quality of Recommendations
Consultants take the role of an expert. So much decision making hinges on the recommendations they give to the company. They cannot afford to make mistakes, so their advice must be factual, proven and customized to client’s needs. They know it is unprofessional to give packaged plans or solutions to companies who are undergoing similar problems. They must develop customized, executable and sustainable plans and recommendations.
Commitment
Management consultants always place the interest of their client before them. This is the reason why they spend long work hours to meet deadlines, conduct research studies, brainstorm ideas and prepare presentations. They strive to deliver what’s expected from them by doing all possible means. If clients are satisfied with their output, they have a good reputation. They start making a name for themselves and for their firms. More companies will keep availing their services.