Williams Bain’s Post

McKinsey’s Incentive-based Approach to Downsizing McKinsey & Company, recognized as one of the premier employers for business school graduates, is now actively encouraging staff to depart the organization by providing various incentives. The consulting firm offers career-coaching services, including resume assistance and the continued use of company email accounts, to support employees in their job search. Furthermore, McKinsey is extending up to nine months of paid leave for managers to pursue job opportunities without the obligation to engage in ongoing company projects. By the end of this period, employees are expected to exit the firm, regardless of their success in securing new employment. This initiative is part of a broader cost-cutting trend across the consulting industry, which employs a significant number of MBA graduates annually. Similar incentives have been introduced to McKinsey's UK and US staff, potentially affecting hundreds of employees. This strategy reflects the sector-wide response to the declining demand for consultancy services and broader economic challenges, which started in 2023. It also addresses the issue of inflated staff numbers, a consequence of low attrition rates and high hiring rates during the COVID pandemic, prompting firms like McKinsey to take decisive action. Dr Huber

McKinsey begins implementing substantial job cuts. According to my sources, 1000 people were put on a performance review before Christmas with the aim of cutting roughly 360 jobs. A move in response to subdued client demand as economic conditions continue to fluctuate. What's interesting about this article is that it has a different theory for what is happening across the wider consulting market, suggesting consulting is becoming more cyclical and the work they do is changing faster than ever before. As clients become better at figuring out their own broad strategies, consultancies must get deeper into problems to truly add value. Having more experts in the mix tends to lower overall utilisation rates which exposes them to faster changing trends. Interesting theory, keen to hear your thoughts. #McKinsey #McKinseycareers #exMcKinsey #exMBB

I am in our London office most of this week to evolve our approach to; becoming a skills based organisation and work re-imagination and re-engineering. We have learned loads this year through our client engagements, research, connection with partnerships, communities, and working groups across the globe. These interactions and our work is so much fun and provides us with stretch, which pushes us to be better and always deliver value. This constant learning aligns with a few of our core values and allows us to put those values into action and behaviours. - Curiosity to insights and testing with practical application in operation. - Innovation and improvement consistently using intelligence and data as the foundation - Team, we are better together and strive to build on each others human potential (inherent core, learned skills, motivations and aspirations). In addition, this type of work of really benefits from face to face time. We check in, test our why and common understanding, where we differ, agree what we want as outcomes, break this into tasks to do and then apply our skills to get this done. We leverage and question what we know and have learned as individuals to add to our skills, plus use our expertise and strengths to master and “teach” each others through sharing. Team accountability and collective ownership is a focus and outcome. This type of work and iterative build is enhanced through having us together in a room, discussing, visualising, constructively challenging, validating with evidence and refining as we go. Thank you to the Randstad Enterprise Advisory team for your relentless focus on being the best of you and us together. It is evident in client, peer and community feedback. #beyondskills #humanpotential #workpotential Francesca Campalani, Harriet Western-Williams, David McInally, Nishma Aguado, Glen Cathey, Anthony Kim, Peter Töpler, Scott Capell, Cheryl Cowell, Rebecca Wallace, Tamara van Dijk, Max Heaphy, Tolani Iwenofu, Helen Crosby, Begüm Tuncay-Secme, Niyonu Agana-Burke, Azim Mandal

If you are considering consulting for yourself, now might be a good time to look at recruitment options for a capability architect. Given the care taken to recruit in a firm like McKinsey, a low performer probably means a combination of: 1. Not enough sales and revenue 2. Someone better suited to the longer-term view of an industrial company than the short-run project nature of consulting work 3. An unfortunate set of social circumstances means someone else "fits in" better 4. Luck However, industrial companies that look to create their own evolving change by rethinking how they structure their work and creating stable growth platforms may very well benefit from the people being let go.

🏆Success at multinational corporations (MNCs) often relies on more than sheer competence—it demands a keen understanding of the complex dynamics of office politics. Much like navigating the unpredictable tides of the sea, grasping these nuances requires foresight, adaptability, and resilience. To continue with the sea metaphor, even if it seems okay on the surface, it can feel calm before the storm. In this space, we witness waves of ambition clashing with the undercurrent of power dynamics. The rules of engagement are ever-evolving, and success often depends on one's ability to decode the underlying patterns of behaviour and decision-making. To thrive in this environment, one must adopt what Nassim Taleb would call an "antifragile" mindset—one that not only withstands the unpredictability of office politics but thrives in the face of uncertainty.  This mindset involves embracing volatility, ambiguity, and change as opportunities for growth rather than threats to be feared. Central to navigating office politics is what Taleb terms "skin in the game"—a vested interest in the outcomes of one's actions and decisions. ✨By aligning personal incentives with organisational goals and taking ownership of one's contributions, individuals can establish credibility and influence within the corporate hierarchy. Taleb's concept of "via negativa" offers insights into effective decision-making in the office. Rather than seeking to accrue power through overt displays of dominance or manipulation, success often lies in the art of subtraction—eliminating unnecessary complexities and focusing on the essentials. Mastering office politics in multinational corporations requires resilience, adaptability, and strategic foresight. By embracing uncertainty, aligning incentives, and simplifying decision-making processes, individuals can navigate the maze of corporate culture with confidence and integrity. Follow Flowsophy Mental Health Consultancy for more!✨ #KeysToSuccess #MultinationalCorporation #WorkplaceWellbeing #CorporateWellness #Singapore #BankandFinancing #MindfulnessAtWork #Leadership #Flowsophy #WorkLifeBalance #EAP #MentalHealthConsultancy HSBC Apple Google IBM Amazon ExxonMobil Singapore Procter & Gamble Malaysia Cisco Citi HP Johnson & Johnson Shell Siemens Financial Services Standard Chartered Corporate & Investment Banking Accenture Dell Technologies DHL EY GlaxoSmithKline Consumer Healthcare, L.P. HSBC Commercial Banking JPMorgan Chase & Co.

#63 – Exponential Intellect I think one of this century’s more noticeable trends in larger corporates has been an increasing switch to in-house consultants and a lesser reliance on external consultants. Although the likes of McKinsey’s; BCG; Bain & Co, are still going strong, there some real benefits in building consulting expertise in-house. For one thing, it might be easier to find a competitive advantage if your strategy isn’t based on the same “world best practise”  stories circling the industry.  And if your internal consultancy groups are set up right, it can be a real advantage to have in-house expertise given accelerating pace of change. However, this post is not about denigrating external consultants or making a case for internal Centres of Excellence. It simply recognises that when you combine the knowledge and experience of the people doing the job, with the knowledge and experience of people that have a different perspective, you exponentially increase your organisational intelligence. True story! Consultants: Things to be grateful for at work. #joyful_life

The emperor has no clothes, and the courtiers are beginning to talk. Getting paid handsomely to confirm your organization's biases, regurgitation at great expense whatever is the current fashion in management studies, and exaltation of the brand & it's imprimatur above all else are just a few of McKinsey's sins.

Earlier this month, FTI Consulting's Women’s Initiative (FTI WIN) in Sydney hosted an inspiring Fireside Chat featuring Senior Managing Directors Renée Law and Natalie Faulkner. The conversation focused on embracing change and diversification as you progress in your career. Renée and Natalie shared valuable insights on the importance of growing your professional network, particularly as you move around. They also discussed the benefits of staying flexible and agile as the market evolves. Natalie also provided her perspective on balancing work and family life, offering practical advice for achieving harmony in both realms. It was a great discussion full of actionable takeaways for anyone looking to grow in their career while navigating the changes that come with it. #FTIWIN #CareerGrowth #Networking #WorkLifeBalance

Do you have a superstar heading off on maternity leave, secondment, or an extended break, leaving you with that dreaded workload squeeze? 😬 We've got you covered! We're placing senior-level ex-Top Tier Management Consultants from McKinsey, Bain, BCG, Kearney and LEK into 9-12 month interim roles. Bonus: many of them are open to sticking around permanently beyond the initial contract! They’re ready to start at short notice and can hit the ground running, so you won’t have to juggle extra responsibilities or stretch your team too thin. Let an Interim Management Consultant step in and keep things running smoothly. Curious to know more? Drop me a message! Reach out to Anika Stokes today! Or check the link in the comment section to learn more about our interim management consultants. 😊 #InterimManagementConsultants #MBB