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Top-Consultant.com's Management Consultancy

Recruitment Channel Report 2011

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Introductory note Sponsor's message from Huntswood Part I - Recruitment and retention trends Part II - Recruitment channel use and Social Media Part III - Historical trends in recruitment channel use and Recruiter & Media Awards

Newspapers Internet job sites Recruitment agencies Individual Recruiter Awards 23 24 25 26

3 5 6 16 22

Top-Consultant.com

TABLE OF CONTENTS

In producing this report for the last decade, we've served a consulting industry that for the most part has been used to enjoying double-digit annual growth in revenues ­ but that has also had to battle with staff attrition rates that often breach the 20% mark. This ten year period has also seen the consulting industry hit by two downturns, the milder one induced by the dot-com crash and more recently the more prolonged and painful reversal of fortunes brought about by the global financial meltdown. Hiring suffered during both these downturns, in part owing to the growth trajectory of the industry ­ but more so because of the reduced staff attrition that these economic conditions induced. With far fewer people leaving firms, far less replacement hiring was needed; and it's replacement hiring rather than growth-induced hiring that is ultimately the bigger driver of hiring demand. Growth prospects within consulting remain fragile. By far the largest practice areas are financial services and the public sector. When both are firing on all cylinders the industry powers ahead. At the outset of the economic downturn, financial services practices suffered considerably but continued spend by the public sector helped to sustain the sector. During the last year, we've seen the total role reversal that we predicted ­ namely a rebound in the health of financial services practices offset by a considerable deterioration in public sector spend.

The pattern so far in 2011 seems to be that a broad range of private sector practices are enjoying heightened demand, increasingly supporting the financial services practices in reviving consulting firms' fortunes. However the public sector order book remains precarious and whilst the climate is more favourable than during 2010 no-one is expecting any dramatic revival in public sector consulting spend. Taken as a whole, the prognosis is therefore that consulting revenues can be expected to continue their slow improvement, but that a return to double-digit growth for consulting as a whole is extremely unlikely. For candidates looking to secure a role within consulting, the far more positive news is that staff attrition rates have shot up during the last 9-12 months. Firms are consequently having to increase their hiring activity quite considerably. There's something of a snowball effect here too ­ the more candidates see consulting employers looking to hire, the more they consider whether their careers are better served staying put or moving to pastures new. With pay disparities favouring those who choose to move, all the ingredients have been in place for this staff attrition-fuelled hiring revival to take off ­ and take off it has over the last year, with campaign volumes in January 2011 some three times higher than we'd seen in January 2010.

Top-Consultant.com

INTRODUCTION

Continued on next page...

Which means of course that our recruiter contacts are increasingly anxious to know the most effective ways to source consulting hires; and in an era where a far wider range of media are there to be considered. With both monetary and hiring personnel resources constrained, everyone is trying to determine which channels are deserving of investment and which are most likely to produce the required hires. We very much hope that this report will help to address these issues for the recruiters amongst you. Last but not least, our thanks go to the 133 consulting employers / recruiters who took part in our client survey and the 1,216 consulting candidates who participated in our candidate poll, without whose responses this unique data could not have been produced. We hope you derive valuable insights from this report and as always look forward to serving your needs as the year unfolds.

IMPORTANT ANNOUNCEMENT

In Summer 2011 we will be publishing the all new second edition of

The Definitive Guide to UK Consulting Firms.

Tony Restell

Co-Founder and Director Top-Consultant.com

Top-Consultant.com

INTRODUCTION

Submissions are now being accepted from consulting employers wishing to have a free company profile in the directory of consulting employers contained within this guide. The first edition attracted more than 160 company profiles and more than 15,000 copies of the guide were distributed. To find out how your firm can get involved, please email Sacha Jackson on [email protected]

As a business that has spent the last 15 years recruiting management consultants, both into consultancy companies and into industry, Huntswood is delighted to be supporting the tenth Top-Consultant.com Recruitment Channel Report. I think we'd all agree that the market has been particularly turbulent over the last few years. Like you we have watched the financial services re-bound, and the public sector consulting decline with interest. Salaries are on the rise, regrettable attrition rates are on the rise and hiring needs are growing. There is undoubtedly a war for talent raging. Firms that want to attract and retain the best talent need to consider the opportunities, personal development and working environment they offer. They should also be willing to offer pay rises to existing talent, and think carefully about the channels they use to source their new recruits. This report outlines the rise in company attrition rates, it confirms the death of newspaper job advertising, and continues to hint at a rise in social recruiting, but with some interesting statistics. LinkedIn has risen up the list of places that potential consultants look for their next role, but is still far from top-dog. However I would suggest that LinkedIn is becoming the headhunter's tool of choice, and executive search techniques are becoming more common in contingent search assignments. Twitter is being used by many as a listening tool to keep up-to-date on industry news, but not yet as a real area for recruitment.

very aware of the private sector consulting resurgence; pharmaceuticals, energy, utilities, consumer goods, retail, telecommunications and of course financial services, are all recruiting heavily at the moment. So are the recruiters that service these markets. Hiring Managers are united in their opinion that the war for talent has started, and the majority are clear that they want to win it. The problem is that a lot of these firms are turning to a recruitment industry that has suffered from three years of lack of investment and are under staffed to deal with the rise in requirements. This report also highlights the crucial role that recruitment businesses play in the process; choosing the right recruitment partner is therefore all the more important. Huntswood has a page in this report where you can see more about us for yourselves. For now, I will leave you to enjoy this report, and wish you the best of fortunes as you look at implementing its recommendations. We are elated to be partnering with Top-consultant to publish this report and to guide firms in their recruiting (and are delighted to see ourselves very much recommended!). Later in the year, job-seekers will be given a similar opportunity as Huntswood and Top-Consultant.com partner up again to produce the salary benchmarking report, and the second edition of The Definitive Guide to UK Consulting Firms. Find out more here.

Huntswood

SPONSOR'S MESSAGE

Those of you who read the Huntswood fortnightly editorial in the Top-Consultant.com newsletter will be

Stephen Humphreys

Recruitment Manager Huntswood

Part

ONE

Recruitment and retention rates

Data collected from 133 management consultancy recruiters

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Our interactions with clients over the last months, together with the survey data collected in January 2011, point to a number of significant factors that will shape the hiring market over the coming year: 1. The threefold increase in hiring activity that we've seen over the last year ­ broadly in line with our predictions in the last report ­ is expected to gain further ground with the majority of firms expecting to accelerate hiring in 2011. Indeed a significant minority of firms foresee very aggressive hiring activity this year, fuelled in part by publicly stated intentions to gain market share. 2. The data on hiring demand by practice area supports the view that a hiring upturn is now very much underway across the majority of private sector consulting practices. Financial Services is of course a hot-spot, but the hiring revival now extends far wider than that. The counter to this of course is the public sector, where the hiring picture will remain bleak for much of 2011. 3. On balance firms are expecting a further deterioration in the staff attrition rates suffered during 2010, with these rates already approaching 20% for some firms. Offsetting this is candidate data suggesting fewer candidates intend to

move this year. For those practices that do need to hire, this may make the task more challenging still ­ especially as the demand is increasingly for very specific hiring profiles. There are several repercussions of this, the most notable being that public sector consultants cannot easily be redeployed to other practice areas; and that candidates increasingly need to seek out those openings where their skills and experience are a perfect match. Simple hiring of high calibre consultants is now something of a rarity ­ firms have specific roles to fill that are project-critical and only an exact match will do. 4. As flagged in last year's report, the capacity available to support the hiring upturn ­ both within consulting firms' recruitment teams and externally within recruitment agencies ­ was dramatically cut back during the downturn. Across the sector we are seeing firms now struggle to hire recruiting resources fast enough to keep pace with practices' hiring demand. This bottleneck is very serious for the industry and we are aware of recruitment firms having to be selective about the firms they take on as clients ­ looking at both their fee rate agreements and the "placement probability" being offered before committing to service an account.

Recruitment Trends

SUMMARY

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Analysis of key metrics for the UK consulting industry allows us to produce an aggregate hiring profile for the industry. As the table shows, required hiring volumes as a % of existing headcount averaged around 33% during the boom years. This figure fell to around 2% during the recent severe recession, which explains why the hiring market has seemed quite so morose in 2009. By contrast, it is rising sharply with every month of 2011 that passes and for the year as a whole is likely to have reverted to a hiring requirement of 23% of existing headcount. This statistic explains why recruitment agencies have experienced a rapid change in fortunes in the last months, particularly when set against the backdrop of a sector that has shed 1/3 of its pool of recruiters during the downturn. It also explains why job board advertising volumes have been picking up consistently during the last months. There are a couple of interesting implications to be drawn from this table. Firstly we can see that hiring demand is very largely driven by the worsening in attrition rates - and should attrition worsen further still, this will translate directly into hiring demand increases over and above what is stated here. Secondly the only thing stopping the numbers from looking like there's a war for talent on a par with the 2006-7 era is the ill health of the public sector market. If we were to look at the private sector alone we would see a talent crunch not dissimilar to that witnessed during the last boom.

Figure 1:

Required hiring volumes

Recent past severe recession -12% -4% -8% N/A -8% 10% 2% Modest economic recovery 2% -1% 3% 0% 3% 20% 23%

Boom years Market Growth from fee rate increases from volume growth (billable days) Growth that can be fulfilled through Spare Capacity Recruitment needed to fuel growth Attrition rate Required hiring volumes as a % of headcount 15% 2% 13% -5% 8% 25% 33%

Recruitment Trends

Staff attrition driving demand

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Market growth

For much of the last decade the UK consulting industry has enjoyed revenue growth rates approaching 15% per annum. This has almost entirely been achieved by an increase in the volume of billable days sold, rather than by fee rate inflation ­ a consequence of the fact that procurement departments have driven an increasingly hard bargain with consulting providers. By contrast, many firms in 2009 saw revenues decline by 10% or more - making this the most distressing year the consulting industry has ever endured. 2010 has seen a return to very modest levels of growth - driven principally by resurgence in Financial Services consulting. In 2011 we can expect a very similar trajectory to be followed. The private sector rebound is likely to extend across a broader range of practice areas and provide a boost to growth; but public sector appetite for consulting spend will only improve marginally.

Those whose public sector assignments have been drying up and who find themselves lacking a billable client project to work on do not generally possess the private sector experience, sector knowledge and commercial acumen that is being demanded by the rebounding private sector client base. Hence a growth in private sector client work is translating immediately into the need for new hires ­ and hires with very specific skillsets at that.

Staff attrition

The last piece of the puzzle is the expected deterioration in staff retention rates that the industry will face in 2011. Given that career moves for many have been severely restricted until just recently, it is no surprise that as recruitment has picked up more and more consultants have started assessing their prospects with alternative employers. With attrition at many firms now close to the 20% mark - and a mild further deterioration expected this year - this is clearly the dominant driver in hiring demand . Any underestimation of staff attrition rates would translate directly into the need for greater numbers of hires and that is a factor we must keep in the back of our minds as the year unfolds.

Why not try advertising for consulting candidates on Top-Consultant.com?

Our low-priced advertising packages allow you to see for yourself the types of results that recruiters are experiencing by placing their job listings on Top-Consultant.com.

Spare capacity

In the boom years a modest volume of new client wins could be resourced by drawing on employed resources currently "on the bench"; but any sustained increase in demand translated quickly into the need for additional hires. During the severe recession we have just endured, the situation was rather reversed, with consulting firms needing to scale back significantly on their consulting headcount to avoid a massive ballooning in underutilised staff. An interesting feature of the modest upturn we are now experiencing is that growth is unlikely to be able to be resourced at all by drawing on consultants "on the bench".

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

One of the key questions everyone wants to know is how employers expect their hiring volumes in 2011 will compare with those seen in 2010 ­ in itself a year that's seen a threefold increase in hiring activity. This time last year the results pointed to a strong hiring rebound in 2010, so this year's findings we would again expect to be a good barometer of what will actually unfold.

Top-Consultant.com's survey of 133 recruiters clearly shows that nearly 3/4 of organisations expect to increase hiring further this year whilst 41% expect to do so aggressively, up from 31% last year. Whilst last year's findings were set against a backdrop of anaemic hiring in the preceding year, this year's expectations are set in the context of a market that's already picked up significantly. Hence by any reading these findings suggest a strong year lies ahead for management consultancy recruitment. It remains our expectation that hiring will not be fully back to the 2007 boom levels until the 2012 Olympics have been and gone. But with staff attrition ­ rather than industry growth ­ being the primary driver of hiring demand, we expect the gap to boom market hiring levels to be cut significantly again this year.

Figure 2:

2011 Recruitment targets vs. 2010

1.5% 11.3% Make considerably more hires than last year 41.4% Make slightly more hires than last year Make as many hires as last year Make slightly fewer hires than last year 28.6% Make considerably fewer hires than last year

17.3%

Figure 3:

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

Recruitment targets 2008 - 2011

2008 2009 2010 2011

Make Make slightly Make as many Make slightly Make considerably more hires hires as last fewer hires considerably more hires than last year year than last year fewer hires than last year than last year

Recruitment Trends

Expectations point to a hiring upturn

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Fundamental to our assertion that incremental project wins will not be able to be staffed by consultants on the bench is the expectation that public sector demand is tailing off and private sector demand is on the up. By asking employers to identify the areas they expect to be undertaking the most hiring we have been able to prove that this is indeed the expectation for 2011 and also to identify some other interesting growth projections by practice area. A score close to 1 in our chart indicates firms expect to undertake little or no hiring in that practice area; while the greater the number the more hiring is anticipated. Two significant changes leap out at you from this chart. Firstly we can see that at the beginning of 2009 there was a minute amount of hiring in Financial Services expected to take place; yet one year on this has leapt to being the single biggest area of hiring activity. As the largest source of private sector consulting spend, this change of fortunes in Financial Services is particularly welcome as we look to 2011 and hope that the year will again produce modest growth for the consulting industry as a whole. Equally stark though is the collapse in hiring expectations within the public sector practices. The single largest area of growth in the 2009 survey, the sector slumped in 2010 and 2011--almost the mirror opposite of the trend seen in Financial Services. It explains why growth expectations for consulting in 2011 are not more buoyant. Elsewhere there is a welcome upturn in hiring expectations across a broad range of private sector practice areas, with Energy & Utilities, Technology and Telecoms / Media / Entertainment practice areas leading the way.

Figure 4:

Recruitment activity by practice area

Leisure / Lifestyle Education Facilities Management Public Sector Automotive / Aerospace Science / Research Chemicals Transportation Distribution / Logistics Engineering & Manufacturing General Management Retail / Consumer Goods Purchasing & Supply Chain Information Technology Healthcare & Pharma

Telecoms, Media & Entertainment Technology Energy & Utilities Financial Services

1 2009 2 2010 3 2011 4

Recruitment Trends

Likely hiring patterns by practice area

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

When asked to provide the same steer on the types of consulting expected to be contributing to hiring demand, the picture was again one of a broad-based recovery. For the second year running, Business Process Improvement specialists are likely to be in greatest demand, with Project / Programme Managers not far behind. Most encouragingly for the health of the sector as a whole is the increased appetite for strategy consulting hires. Strategy consulting is often seen as a bell-weather for the state of the consulting industry as a whole, so the continued resurgence in hiring expectations here is most welcome. The notable roller-coaster within the data is in the area of IT consulting / software development. This market remained buoyant for some time after the broader downturn in consulting had taken hold. The resulting hiring cutbacks took place later than elsewhere in the market and the rebound is expected to be similarly staggered.

Figure 5:

Recruitment activity by type of consulting

Economics & Environmental Consulting

HR Consulting

Marketing & Sales

Finance / Accounting

CRM

E-Business

IT / Software Development

Outsourcing

Strategy

Technology

Project / Programme Management

Business Process Improvement

2009 2010 2011 1 2 3

Recruitment Trends

Likely hiring patterns by type of consulting

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Staff attrition to accelerate further?

On balance, employers' expectations are that in the coming year we will see a modest deterioration in staff attrition. We would suggest it is a sign of how far retention rates have already deteriorated that these expectations are not worse than they are ­ in essence staff attrition can't get that much worse now that the 20% mark is looming for many firms. In some practice areas firms have also introduced retention bonuses to try and reign back the retention problem, so the hope that these will have a positive impact is likely also to be influencing the results. Clearly any worsening of staff attrition beyond what's anticipated here will give rise to additional hiring demand and put a further strain on recruiters' capacity to deliver.

The Consultancy Careers Fair 2011

Figure 6:

Staff attrition rates 2011

Staff attrition rates will improve considerably Staff attrition rates will improve a little No change in staff attrition rates expected Staff attrition rates will worsen a little Staff attrition rates will worsen considerably

7.5% 18.8% 36.1% 30.1% 7.5%

Taking place on 30th September, this year's careers fair gives your firm the opportunity to meet with 2,500+ consulting candidates.

0%

10%

20%

30%

40%

Recruitment Trends

Staff attrition to accelerate

The brochure will be available on 3rd May. To request a copy please call the Top-Consultant.com team on +44 (0)207 667 6880.

PAGE 14

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Two interesting findings from this year's survey are i) that consulting firms want overwhelmingly to make their hires from the ranks of the experienced consultant. Whilst in parallel ii) there's a reduction in the number of experienced hires who'll be looking for a new job within consulting ­ with increasing numbers planning to either stay put or to look for a new role outside of consulting.

Taken in combination, these statistics paint the interesting picture of an industry where not all firms will be able to hire in the volumes they need ­ or will have to compromise on the backgrounds of those they hire and open their hiring up to a wider range of prospective candidates. Recent history teaches us that the latter outcome is the more likely and it is our expectation that hiring "must have criteria" will soften as the year progresses and these hiring difficulties become more pronounced.

Figure 7:

5 4 3 2 1

Desired hiring profile 2011 vs. 2010

Figure 8:

Candidates' career intentions for 2009 - 2011

0% Most likely to accept a job with a consulting employer 10% 20% 30% 40% 50%

Not looking to change jobs in the next 12 months Most likely to accept a job with a client organisation

Experienced Experienced Experienced Experienced hires from hires from hires from hires from the other industry Government or City consulting firms Public Sector bodies MBA finalists University leavers / Finalists 2011

Most likely to secure some other kind of role outside consulting Most likely to accept a job in the City

2010

Most likely to accept public sector/ charity job 2009 2010 2011

Market Trends

Market will feel tighter

IDEALLY PLACED!

As one of the original Management Consultancy specialist recruiters we are still doing what we do best - finding and placing exceptional talent.

As the recruitment partner of choice since we started on October 7th 1996, we have set about establishing trusted and long lasting relationships, through our professionalism and a commitment to service - gaining experience, expanding our team and improving our way of working. We are an award winning company and are ideally placed (as highlighted in this report) to help you with your requirements, whether it be finding experienced consultants or industry experts wanting to move into consultancy. If you need to find exceptional talent to join your business and want to work with a brand that has a fresh approach, coupled with a proven track record, pick up the phone and speak to one our experienced consultants on 0844 463 9796 or visit www.huntswood.com/ideallyplaced to find out more.

"Voted one of the Top 5 recruitment firms serving our sector, Huntswood is one of the most enduring and well known brands in the market and again at the forefront of finding ways to use the latest online platforms to better serve their clients and candidates." Tony Restell - Director and Co-Founder Top-Consultant.com

Thought Leadership

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Client

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Part

TWO

Recruitment channel use and the role of social media

PAGE 17

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

The following candidate job search trends we will be presenting are based on data collected from 10,000+ management consultancy candidates over the past ten years. Candidates from all the major consulting firms have participated, together with consultants currently working at niche consulting firms and potential industry hires looking to move into consulting. Profile of respondents: Most this year were Business Transformation / Change Management consultants (25.8%), Strategy consultants (23.8%), IT / Technology Consultants (15.9%) and Project / Programme Management consultants (13.7%). The sectors that candidates this year had most experience of working in were Financial Services (45.6%), the Public Sector (28.5%), Telecoms, Media & Entertainment (25.9%), Energy / Utilities (24.7%) and Retail / Consumer Goods (23.4%). Survey responses this year were generated via direct mailshots to the Top-Consultant.com readership; an invitation sent to all screened consulting candidates on the Get Headhunted CV database; promotions via Twitter, LinkedIn, Google News and Yahoo News, Forum posts and by invitations sent to candidates by recruitment agencies. Overall 63.7% of candidates have changed jobs within the last three years.

Are you a Management Consultancy Recruiter?

Once a month the TopConsultant.com team update recruiter contacts regarding all the new initiatives we're planning, free reports we've published and any forthcoming promotional offers they could benefit from. If you would like to be added to our recruiter contact list please email Graeme Underhill.

Overview

Candidate pool

PAGE 18

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Let us now look back at candidate activity over the last 12 months and specifically the channels used to look for new career opportunities. Every year we ask candidates to record the channels they used and the number of applications that they made through each. Collating that data allows us to analyse the penetration performance of the channels (how many candidates have used each) and the share of applications achieved from each of the six major recruitment channels: · Newspapers · Recruitment agencies · Internet job sites · Social media · Personal Contacts / Referrals · Corporate Websites

Why not try advertising for consulting candidates on Top-Consultant.com?

Our low-priced advertising packages allow you to see for yourself the types of results that recruiters are experiencing by placing their job listings on Top-Consultant.com.

When looking at which application channels candidates used during their last job hunt, it is striking to see three of the recruitment channels being used by a far greater proportion of candidates than the others. Recruitment agencies had been used by a greater number of candidates than any of the other channels; with Personal contacts / referral schemes and internet job boards also scoring highly.

Figure 9:

Application channels used last time to apply for a job

Channel Review

Candidate activity over last year

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PAGE 19

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Social media sites and newspapers generated applications from 30% and 20% of the candidates surveyed respectively. The lack of impact of social media is quite a finding though. This year for the first time we've asked our 1,216 consulting candidates to share which social media sites they are active users of (where we defined this as having an account that the candidate makes use of at least once a week). What is very noticeable is that 81% of candidates regularly use LinkedIn, 56% use Facebook and only 13% use Twitter. What is interesting here is that most LinkedIn users in the consulting space are not using the site for the purposes of making job applications, but rather for networking and business development. This suggests that recruiters can reach consulting candidates via this platform, but will do so more effectively by using it to approach candidates directly rather than relying on them to make applications to jobs that have been advertised there. Also of great note is the finding that ­ contrary to popular belief ­ consultants DO find time to be active Facebook users but DO NOT engage with Twitter in any great numbers. Certainly when speaking with recruiters over the last year, the widespread assumption within our industry has been that consultants ­ especially IT / technology focused consultants ­ would be early adopters of the Twitter platform. These results are unambiguous in showing that Twitter has low penetration amongst consultants. The implication for recruiters is that this is a medium best used to start a dialogue with individual candidates / clients that look of interest, rather than as a medium to broadcast messages out to a sizeable audience ­ because a sizeable audience of relevant consulting professionals are simply not engaged with the medium as yet.

Figure 10:

Social media on which consultants are active users

By contrast, many people have assumed that consultants simply lead too stressful a lifestyle to have time for Facebook. This data shows that the majority of consultants are active users of this platform and so this is a far more effective platform for broadcasting messages or running branded campaigns ­ in much the same way as LinkedIn can be seen to be.

Channel Review

Social Media

PAGE 20

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

When the number of applications made by channel is factored in, the lack of impact of social media becomes even more pronounced. Social media sites in total produced less than 10% of applications, compared with the more than 1/3 of all applications generated by internet job boards. Personal contacts and referral schemes ­ whilst popular with candidates ­ are limited as an application channel by candidates' ability to apply to all the firms of interest this way. Sites like LinkedIn may strengthen this route in coming years by extending people's networks further and more importantly by making candidates' existing networks more transparent to them. Corporate sites, meanwhile, have stagnated with an application share of around 15%. Overall the conclusion from this year's survey is rather surprising. Running counter to the hype surrounding social media, this data supports the view that many consultants are now heavy users of social media ­ but demonstrates that candidates do not use social media as a primary source for finding a new job. With barely 5% of applications having been made via social media sites this last year, from an audience where 81% are active users of the leading professional social media site, it is hard to argue any differently. This finding certainly correlates with the feedback we have had from advertisers on LinkedIn that adverts generally attract applicants from people outside the UK and / or outside the consulting industry (whereas this survey is of course primarily a survey of candidates based in the UK and working in consulting).

Figure 11:

Share of applications generated in last job search

Channel Review

Looking forward

PAGE 21

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Candidates were asked to score the likely channels they would use when next hunting for a new job, both to allow them to change their bias to allow for dissatisfactions with their most recent job hunt and also to factor in new developments they've seen affecting the market like LinkedIn. As you can see from Figure 12 candidates clearly intend to modify their job hunt strategies only marginally during their next job search. What is particularly striking though is the chart below where candidates' past activity can be crosscompared with their intended future activity ­ the correlation between the two is unmistakable! Given this, it seems likely that the share of applications employers' will receive from each of the hiring channels is likely to remain fairly constant for the foreseeable future, barring any major change in the functionality or appeal of the channels over and above what is offered today.

Figure 12:

Channels most likely to use in future

Figure 13:

Sources of candidate applications 2011/2012

Personal Referrals Recruitment Agencies

High

Job boards

Future Use

Social Media

Newspapers

Corporate Sites

Channel Review

Looking forward

Low Low

Share of Applications

High

Part

THREE

Historical trends in recruitment channel use and Recruiter & Media awards

Data collected from 1,216 management consultancy candidates

PAGE 23

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Historic newspaper advertisers, direct employers and recruitment agencies, continue to switch spend to online solutions. Of all the channels, newspapers have suffered most in the last ten years with candidate penetration levels having fallen considerably, down to just 20% in this year's survey. Some newspapers are countering this and looking to maintain what remains of their share of applications by offering a number of agglomerated industry special editions to advertising clients. Despite this initiative, the share of applications made through newspapers continues to decline. The Times and Financial Times newspapers are established as consultants' preferred newspapers when looking for consulting jobs. However, as the earlier penetration figures show, consulting candidates are far less likely to apply to roles they see in newspapers than they were a decade ago, reducing their effectiveness as a recruitment channel.

Figure 14:

Penetration - Newspapers

Figure 15:

40%

Newspapers - Which do you rate above all others as the best source for finding a consulting job?

Times FT

30%

20% The Economist 10% Telegraph Guardian Evening Standard

0%

Recruitmentchannels

Newspapers

PAGE 24

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Internet job sites continue to enjoy a high share of candidate usage and while there has been some volatility in job boards' market penetration over the last years, the industry is now mature and over 2/3 of consultancy jobseekers made applications for roles that they had seen on job sites in 2011.

When asked to name just one job board, the 1,216 candidates surveyed said that once again Top-Consultant.com easily retains its lead as the best site for finding a consulting job.

Figure 16:

Penetration - Internet job sites

Figure 17:

Internet job sites - Which of the job sites do you rate above all others for finding a consulting job?

Twitter jobsearch MCA

Accountancy Age / Management Consultancy Consultantsboard TopITConsultant Executivesontheweb ConsultingLadder FT Totaljobs eFinancialCareers Jobsite Monster Exec-Appointments LinkedIn Top-Consultant

0% 10% 20% 30% 40% 50%

Recruitmentchannels

Internet job sites

PAGE 25

Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Recruitment agency candidate penetration has held up much better during the recession than it did during the dot-com downturn. It is now picking up in line with the rebound in recruiting across the profession and stands at just over 70%. As well as asking candidates to recommend the best individual recruiters, we also asked them to feedback to us on the different recruitment firms that they have used. A ranking of firms that received the most praise and the least complaints was then produced. Congratulations to all firms listed. Our special congratulations go to BLT who have secured the top spot for the third consecutive year. Respondents praised BLT for the qualities that made them stand out from the competition: ·for being genuinely interested in candidates' career aspirations ·for going to great lengths to match candidates up to suitable roles ­ and not doing so in a pushy manner ·for ensuring candidates are kept well informed throughout the process and for always sticking to commitments made to candidates ·and for having great staff and a strong set of contacts within the industry.

Figure 18:

Penetration - Recruitment agencies

Figure 19:

2011 top 10 recruitment firms by praise

Recruitment firm

Rank

Recruitmentchannels

Recruitment agencies

1 2= 2= 4 5 6 7 8 9= 9=

Beament Leslie Thomas Michael Warwick Nicholls Selecture Aston Carter Huntswood SK Consultancy Solutions ChapmanBlack Prism Korn Ferry Heidrick and Struggles

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Top-Consultant.com's Management Consultancy Recruitment Channel Report 2011

Alongside the rankings of recruitment firms, we asked candidates to help us identify the best individual recruiters they had worked with. We asked them: "If you have been particularly impressed with an individual recruitment consultant you have worked with in the past, please provide their name & company so that we can give them special recognition" Ten individuals received the most praise and we warmly congratulate them all for their success. They are listed in no particular order:

Recruiters - available throughout 2011

All premium job listings appearing on TopConsultant.com will be added to Jobsite for you at no additional cost.

Figure 20:

Best individual recruitment consultants 2011

David Lancefield and Darren Head from Selecture Don Leslie and Sarah Burgess from BLT Sasha Kemp (SK Consultancy Solutions), Paul Brown (ChapmanBlack) and Rachel Snelgar (Huntswood) Victoria Barry-Woods (Aston Carter), Pete Nicholls (MWN) and Chris Sale (Prism)

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Awards

Individual recruiters

Find out how your firm could attract consulting hires by:

· advertising on our websites · advertising in our consultancy-focused publications · accessing our CV databases · running bespoke careers events · participating in the annual Consultancy Careers Fair

CALL TO SPEAK WITH ONE OF OUR TEAM

For more information on Top-Consultant's services or if you have any questions about the data in this report please contact Graeme Underhill, Bryan Hickson or Tony Restell on 0207 667 6880 or email them on [email protected], [email protected] or [email protected]

REQUEST A BROCHURE

Alternatively, please feel free to request a PDF brochure detailing our services. You may do so by clicking here.

EMAIL US

Feel free to email our Customer Services team with any questions you may have, using the address [email protected]

© 2011 Top-Consultant.com. All rights reserved.

About our Sponsors: Huntswood

We've always regarded Huntswood as one of the most ambitious and forward-looking recruitment firms serving the Management Consultancy sector. Back in 2000 they were one of the very first companies to see the potential of Top-Consultant.com to transform the way that recruiters would source candidates. Whilst others were worrying about how online would undermine their businesses, Huntswood were focused instead on how the new medium would allow them to better serve their clients. A decade on, it is fitting that Huntswood should be the sponsors of our annual report assessing trends within the management consultancy recruitment market. Voted by candidates as one of the Top 5 recruitment firms serving our sector, Huntswood is one of the most enduring and well known brands in the market and again at the forefront of finding ways to use the latest online platforms to better serve their clients and candidates.

Find out more about Huntswood here.

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