Our Recruitment Solutions
Team MovesIn some parts of the financial services industry “Team Moves” have been an endemic part of the recruitment landscape for a number of years. In management consulting circles there is an equally long, though less widespread precedent, but currently there is a very strong demand for such transactions from both employers and candidates alike.
For an employer the benefits are clear – the ability to scale up existing capabilities quickly, or to “bolt on” new but complementary service offerings for their client base which will add value. This competitive advantage will be magnified further if it can be achieved at the expense of a major competitor! The potential revenue streams are therefore easy to identify and the business case is often an easy, straight forward one to make.
Equally, for the potential team members there are compelling arguments. At the more senior levels an opportunity to negotiate a preferred operating mandate, plus a confidence in the team's existing capability and revenues; at the more junior levels, the opportunity to continue working with, and learning from, existing mentors and to maintain senior sponsorship in a new organization is attractive.
We have experience in dealing with team moves of varying sizes, across a variety of functional disciplines within the management consulting profession.
Example Assignment
Prism was approached by the Director of a team of utilities sector consultants. The group had performed consistently well in their current medium sized professional services firm but were not convinced about the firm's overall commitment to growing its management consultancy business. As a result of a prior relationship, they had already contacted another recruiter but were concerned that this organisation had a limited range of contacts and might not have the expertise to manage a potentially complex team move.
Prism met with the team's leaders and held a frank and open discussion re the options available and the priorities for the team. We also left them with a number of questions around the potential move which they realised hadn't been raised before, or considered by the other recruiter. In a further discussion Prism presented to the team a “long list” of potentially interested parties based on its extensive range of contacts and unrivalled market knowledge. This was narrowed down to a list of twelve consultancies which Prism approached on the team's behalf. Of these, eight expressed an interest in initial discussions and a series of meetings were arranged. During this period Prism maintained very close contact with all parties and were able to provide advice and guidance to the team and the acquiring firms. This included several further meetings will the team's main members.
The final result was several offers, which Prism helped to manage and evaluate. After reviewing all their options the team joined a highly successful and dynamic medium sized management consultancy that was seeking to diversify its sector offering.