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Examples of past bespoke studies include: TOTAL COMPENSATION VALUATION: A leading strategy consulting firm, headquartered in the US, positioned itself as an upper decile payer, but with a minimal benefits package, arguing that its consultants could use their higher income to purchase any desired benefit. Concerns from their European operations, where benefits were typically more generous, led them to seek a ‘total compensation’ value across six countries, to determine their comparative position against other strategy firms.
COMPANY CAR BENEFIT COMPARISON:
In one of the world’s largest consulting markets provision of company cars is almost universal, from entry Analyst to Partner. A number of leading international consulting firms wanted to benchmark the precise details of car provision, including not just make and model allocation but also vehicle financing, tax treatment and private use arrangements.
FAMILY FRIENDLY WORKING POLICIES:
An international boutique firm was concerned by its inability to retain female consultants through to Partnership level. Comments from various offices and from other professional services firms confirmed this was a common concern, but gave no consensus about how the problem could best be addressed. A major international study was conducted across a range of industry sectors to identify both best practice in this area, and also which sometimes expensive initiatives should be avoided.
NEW MARKET ENTRY:
Dramatic economic growth in an emerging market led several consulting firms to identify business opportunities, which had to be serviced by seconding staff from permanent offices elsewhere. No domestic data were available on salaries within professional services, but anecdotal evidence from the few firms operating there was highly conflicting. An ab-initio benchmarking study was undertaken, utilizing Vencon’s extensive contact network across all the firms operating in the territory at that point. |
