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5 min read
10 Years of Movemeon: lessons learned building a disruptor

Celebrating 10 years at Movemeon: lessons on growth, resilience, simplicity, and authentic leadership.

Movemeon
18 Sep
2024

This year marks a decade since Nick, my co-founder, and I welcomed our first paying customer (hiring for their strategy team) to movemeon.com.

Since then, I’ve gotten married, had 3 kids and moved house 4 times. With the support of a fantastic team, we’ve grown Movemeon globally (supporting hiring in 100+ countries), started and exited another people-tech startup and benefited from the support of some amazing mentors and customers advocating for our different approach.

I’ve also made countless mistakes. So now felt like the right time to share what I’ve learned - often the hard way.

I’ve split my lessons into a rough chronological order from the early days through to today. I hope you find them helpful - whatever scale and type of organisation you work in.

Thank you for your support - of me and of Movemeon - and for taking the time to read. Very best,

- Rich (more about me here on LinkedIn)

Getting started

  1. Tell your story (people buy from people)
    Our story is simple.

    As "candidates" we found headhunter cold calls and trawling through job boards incredibly frustrating. Our colleagues felt the same. We all "switched off" to those channels.

    At the same time, we were looking for career inspiration that was 100% relevant to current / former consultants. And we struggled to find the insights we needed.

    We spoke to 50 HR and hiring managers about their experiences hiring - almost all complained about the high cost, slow speed and unconvincing reach of traditional headhunters / recruitment agencies.

    So we set out on a mission to solve all those problems.


    That's our story. And it still resonates with many people today. But as movemeon grew, our story became hidden.

    The most important USP you have - as a business and as a professional - is you and your story. Tell it authentically and remember that people buy based on feelings first (pain, frustration etc). Logical reasons (e.g, how the product works) come a distant second.

  2. It’s all about action
    There’s a common myth that one day the perfect idea (that nobody else has ever done before) will come along and smack you in the face. It won’t! Starting a business - or doing anything new for that matter - is about deciding to take action. The idea will evolve and become clear, only after you start doing.

    Don’t forget - there are loads of huge businesses that weren’t based on a new idea. Rather they copied a business that was already successful and applied it to a new industry or country. Nothing wrong with that!

  3. Keep it simple
    I promise that the first version of your business / product / service that you picture in your head, won’t be simple enough. v1 of Movemeon was so complicated. We got carried away and created loads of stuff that nobody ended up using!

  4. Speak to your customers
    In order to keep it simple, go chat with your target market before building anything. What’s the real pain point (rather than the one you think it is)? How much are they willing to pay? This is the best way to build a true MVP. And what’s more, you have a group of people willing to test your solution, give you feedback and (hopefully) become your first paying customers.

    As you grow, constantly ask your customers for feedback.

Building momentum

  1. Be a giver
    We all know someone who is only ever in touch when they need something. Don’t be that person! Instead, help people out. Say yes. Surprise people with how much you care - personally and as a business. When you're scheduling that call, it will feel like time you should be spending elsewhere. But being interested and giving with no strings attached, doesn’t go unnoticed. And I've never had a conversation that I haven't learned something from.
  2. Ask for help
    Don’t ask, don’t get.” It’s rare that people will volunteer to help you out of the blue. But it’s equally rare that people won’t help you, if you ask them to (especially if you’ve taken time to build that relationship authentically - see “be a giver”). This applies to everything from asking for advice (from friends / colleagues / mentors) to asking for referrals (from happy customers). Ask mindfully. Ask at the right time. But do ask.
  3. Focus, focus, focus
    It’s so easy to try and add more bells and whistles to your product / service, before you’ve truly mastered the very first thing you set out to do. Less is more. Do things in sequence. 1 KPI is better than 5 (and if you don't measure it, it won't happen).

    Being focused is hard. Taking away takes a lot more discipline and time than adding. As Mark Twain famously put it “I didn’t have time to write a short letter, so I wrote a long one instead.”

  4. Be mindful about fundraising
    Don’t be distracted by media hype about how much X company / founder has raised. There’s a graveyard of startups who shouted about their fundraising and never made any money. Don’t get me wrong, there are many benefits of raising money for equity. But there are also many benefits in bootstrapping and considering debt funding too. Consider all your options and do what’s best for you and your business. Just be mindful and clear about the “why”.

Staying the course

  1. Customers don’t retain themselves
    This sounds so obvious. But it’s easy to forget! Particularly in B2B businesses, there are many innocent reasons why you might lose a customer, despite having done a great job (the most common being that your contact leaves without telling you or making an introduction to a colleague). Nailing the actions and commercial models - like Movemeon's annual fixed-fee partnerships for unlimited hiring - that lead to retention, means you spend more time next year growing new business rather than replacing business you already had.
  2. Keep stepping back
    When you start your business / business unit or launch your new product line, your vision will be so clear. But as you grow, the nitty gritty will become overwhelming. It’s so easy to get consumed in the day-to-day and forget to step back. My top tip is to do this every 6 months and go somewhere else for it (i.e, not the office, not your home). 
  3. Find your resilience
    Life is full of ups and downs. Starting, growing and running a business is no different. Building a career in any environment is a constant challenge. I’m grateful for having a co-Founder, supportive team and great friends and family. I also highly recommend finding and spending time with a group of peers (tech Founders for me) who are going through similar experiences and can help you out / buy you a drink / listen to you whinge.
  4. Don’t let life pass you by
    Yes, some businesses get born, grown and sold almost overnight. Some people are so successful in their careers, that they retire at 40. But these businesses and people are extremely rare. For most of us, it’s going to be a multi-decade marathon. So I’ve learned to truly enjoy the journey and not let business take over my life. Whenever I’ve let time with my family, friends or interests slip away, I’ve simply become less effective at work. 

I hope you've enjoyed reading this article. Thank you for taking the time and also for your support over the last 10 years.

I share my thoughts more regularly on LinkedIn where 35,000 people now follow me (I am a little baffled by that, I must admit). If you'd like to join in, here's a link to my profile where you can click follow.

Keep in touch,

Rich

5 min read
Chief Transformation Officers (CTO) result in a 24% uptick in value from PE transformations

Discover why Private Equity funds are increasingly hiring Chief Transformation Officers (CTOs) and how their strategic roles drive a remarkable 24% increase in value through business transformations. Explore when and where CTOs are commonly employed, their evolving roles, and key strategies for CTO success.

Movemeon
18 Sep
2024

According to a recent article from Bain & Company, a Chief Transformation Officer (CTO) to oversee a transformation results in a 24% uptick in value.

In this article, we look at where CTOs are most commonly hired, before looking at how Bain saw the role evolving during a transformation. This is a great introduction to both how a CTO could be implemented and the overarching value these hires offer.

When to hire a CTO

Here at Movemeon, we most commonly support PE-backed portfolio companies in hiring a Chief Transformation Officer.

CTOs are commonly hired post-acquisition. The potential for transformation of the business has been identified during the deal due diligence. Now is the complex task of realising the value from the transformation.

Transformations are, by their nature, cross-cutting and reliant upon adopting new technologies and processes. Executed effectively, they are the ultimate driver of an increase in equity value. However, a lot can go wrong.

Whilst not common across all funds, a number we work with have increasingly looked to de-risk this transformation by hiring a Chief Transformation Officer. They are typically an ex-consultant who has subsequent experience driving transformation in businesses, often in a PE-backed environment.

If this sounds like something that could benefit your company, or a company in your portfolio, please do click here to ask any questions.

How does the CTO role evolve

According to Bain, the CTO plays five critical roles: strategic architect, integrator, operator, coach, and controller. Each role is important at different stages of the transformation. 

  • As a strategic architect, the CTO advises and aligns the CEO and executive team on the transformation's ambition and goals. 
  • The integrator role involves connecting the expected value of the transformation to its delivery, prioritizing initiatives, and ensuring efficient resource allocation.
  • As the transformation progresses, the CTO takes on the operator role, planning and guiding initiatives across different business units and functions. 
  • They also act as a coach to the CEO and top executives, supporting their journey of adoption, identifying key skills for the organization's success, and offering training and coaching. 
  • In the controller role, the CTO manages risks, monitors progress, and addresses roadblocks, ensuring early successes and momentum for the transformation.

They saw the role evolve as follows:

How to help CTOs succeed

CTOs often find themselves in the position for the first time, and external coaching or peer mentoring can be highly valuable in helping them succeed in their roles. Building a strong team of leaders with complementary skills is also crucial for CTOs to effectively lead transformations.

The most effective CTOs report directly to the CEO and are an integral part of the CEO’s leadership team. They should have unfiltered access to the executive suite and should arrive as a peer of the CEO’s other reports.

Speak to Movemeon today about partnering to equip your organisation with top PE strategic talent.

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5 min read
Benchmarking PE Fund Portfolio Operations: Navigating Value Creation and Risk Mitigation

Movemeon helps PE firms to hire top-tier consulting trained professionals for their teams. Get in touch for more information!

Movemeon
18 Sep
2024

An ever-changing market landscape poses challenges to Private Equity (PE) firms. Funds are honing their portfolio operations approaches to achieve organic value creation, employing innovative strategies like equity relief, and meticulously managing risk exposure during due diligence. Here, we shed light on these approaches, and how they can drive value for PE firms.

Organic Value Creation in the Spotlight

Organic value creation has emerged as a dominant theme for PE this year, with sustainable growth within portfolio companies becoming paramount. PE funds recognize that fostering organic value yields not only financial gains but also fortifies the long-term viability of investments.

Equity Relief: Pioneering Capital Deployment Strategy

In the current market, the number one capital deployment strategy is equity relief. This approach empowers PE funds to inject capital into portfolio companies while avoiding the burden of increased debt, enabling them to navigate uncertainty and leverage growth opportunities. This strategy establishes a collaborative partnership, aligning the interests of both PE funds and portfolio companies for optimal results.

Navigating Risk Exposure During Due Diligence

Sentiment around deals remains cautious this year. Sky-high valuations and financing uncertainties have shifted the focus to risk exposure during due diligence, while operating partners are encountering unforeseen risks that challenge deal closure. Robust risk management and thorough due diligence are crucial to ensure the resilience of investments in this evolving landscape.

Benchmarking the Portfolio Operations Model

Benchmarking PE fund portfolio operations is essential for gauging performance and identifying areas of improvement. The key elements to consider are:

1. Value-Creation Framework. Evaluate the extent to which the PE fund's portfolio operations prioritise organic value creation. Assess the strategies and initiatives in place to enhance growth, optimise operations, and foster innovation within portfolio companies.

2. Equity Relief Integration. Scrutinise how effectively the equity relief strategy is integrated into the fund's operations. Examine the alignment of capital deployment with portfolio company needs and market dynamics, ensuring that equity relief serves as a catalyst for sustained growth.

3. Risk Management Protocols. Analyse the fund's risk management protocols and due diligence processes. Investigate how risks are identified, assessed, and mitigated during different stages of investment. A strong emphasis on risk management showcases a fund's commitment to safeguarding investments.

4. Performance Tracking Metrics. Consider the performance metrics used to gauge the success of portfolio companies’ initiatives. These could include revenue growth, EBITDA margins, customer retention, or market share.

5. Collaboration and Communication. Assess the level of collaboration and communication between the PE fund and portfolio companies. Open and transparent communication fosters a synergistic partnership, enabling the alignment of goals and strategies.

Implementing some or all of the strategies above is crucial to ensure PE success in the current environment. Through doing so, PE firms can position themselves for sustained growth, profitability, and resilience despite the ever-evolving demands of the market.

Speak to Movemeon today about partnering to equip your organisation with top PE strategic talent.

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5 min read
Unleash Growth and Innovation: The Power of Fractional Hiring for Senior Roles

In this article, we'll delve into the impact and potential of fractional hiring, drawing inspiration from industry insights and success stories.

Movemeon
18 Sep
2024

Venture capital funding fell 53% in Q1 2023, underscoring a difficult period for the start-up and scale-up ecosystem. Against this backdrop, fractional hiring is surging in popularity among organisations looking to improve cost-effectiveness and efficiency when leveraging specialised skill sets, particularly at C-suite and Director level. 

In this article, we'll delve into the impact and potential of fractional hiring, drawing inspiration from industry insights and success stories.

Embracing the Fractional Revolution: The Rise of Senior-Level Part-Time Contracts

An Evolving Landscape: The business world is evolving rapidly, with start-ups, scale-ups, and even established enterprises looking beyond the traditional 40-hour workweek. Fractional hiring enables businesses to tap into a vast pool of seasoned professionals, many of whom are seeking flexible arrangements to balance their work and personal commitments.

Speak to Movemeon to enquire about our lists of candidates available for fractional employment.

A Depth of Expertise: Fractional senior hires bring in expertise that can propel a company’s growth. Imagine having a former CFO of a Fortune 500 company orchestrating your financial strategies, or a seasoned CMO devising your marketing campaigns.

Cost-Effectiveness Redefined: Instead of committing to a full-time executive with a hefty salary package, companies can access top-tier talent on a part-time basis, achieving substantial cost savings without compromising on quality.

Inspiring Success Stories: Transformative Growth Through Fractional Hiring

The Silicon Valley Paradigm Shift: TechCrunch calls fractional hiring a "growth cheat code". Start-ups, especially in challenging financial environments, have found fractional executives to be a lifeline offering fresh perspectives and novel strategies while contributing to bottom-line results.

Forbes' Formula for Start-up Success: Forbes’ Tech Council advocates for start-ups to embrace fractional hiring to secure high-level expertise within budget constraints. By enlisting fractional leaders, start-ups can access knowledge, mentorship, and strategic guidance usually reserved for more established players.

House of Revenue's Vision for Transformation: House of Revenue called 2023 the "Year of Fractional Executive Services". The ability to bring in specialised leaders to drive synchronised efforts across sales, marketing and customer success is a recipe for market domination.

Getting Ahead: How to Embrace Fractional Hiring for Senior Roles

Clarity of Purpose: Before diving into fractional hiring, define your objectives and desired outcomes. Outline the roles you seek to fill, the expertise required, and the impact you envision these leaders making on your business.

Effective Integration: Use open communication lines, provide appropriate resources and offer comprehensive support to integrate fractional leaders seamlessly into your team.

Measure Success: Define, and regularly assess, key performance indicators (KPIs) and metrics that align with your fractional leaders' responsibilities.

Unleash Potential, Drive Growth: Connect with Us to Explore Fractional Hiring

At Movemeon, we specialise in connecting visionary companies with exceptional talent, including fractional leaders who are poised to make a difference. Our platform is your gateway to unlocking growth, where expertise meets flexibility.

Get in touch today to explore the potential of fractional hiring for senior roles.

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5 min read
Freelancer FAQs: Navigating the Journey to Independence

On Movemeon we have loads of freelance projects. Here you'll find our most important FAQs to start your career as a freelancer.

Movemeon
18 Sep
2024

Embarking on a freelancing journey is an exciting leap into the world of independence and entrepreneurship, but some aspects of the transition can be confusing for newcomers. Here, we answer the most common freelancer FAQs, providing valuable insights on how to establish a limited (ltd) company, identify reliable sources of professional insurance, and choose the best business bank accounts for your consultancy venture.

How do I set up a ltd company?

This seems a daunting requirement at first glance, but by following these simple steps you can have your ltd company set up quickly and efficiently:

  1. Choose a name: Make sure it's unique and relevant to your services. Check its availability (here if in the UK) before committing.
  2. Register your business: You’ll need to provide the relevant authorities (such as Companies House in the UK) with details about company directors, shareholders, and a registered office address.
  3. Consider legal and tax implications: Consult legal and tax professionals to ensure you're aware of the legalities of your business structure. A ltd company offers limited liability protection and potential tax advantages.

How should I insure my business?

Insuring yourself as a freelancer offers protection against legal claims and financial liabilities. As a rule of thumb, this is a crucial safeguard to implement when setting up your freelance business.

Conduct thorough research to ensure you select a reputable provider, with coverage tailored to your industry and services and with indemnity insurance included. Consider other specialist cover you may need, such as general liability insurance, cyber liability insurance, or worker's compensation insurance.

Click here to view all freelance projects on Movemeon!

How do I choose a business bank account?

Research dedicated business banking accounts thoroughly. You may want to use a “traditional” bank for your business, but for a faster, digital-first process, consider using a “challenger” bank such as Monzo, Tide or Starling. 

Ideally, your bank will:

  • Charge minimal fees and have low minimum balance requirements
  • Offer user-friendly online banking services
  • Integrate effectively with popular accounting software.

How do I develop professionally?

As a freelancer, you can no longer rely on your employer for training and professional development. Remember to invest in enhancing your skills and staying up-to-date with industry trends. This adds value to your services and helps you stand out in a competitive market.

How can I find more business?

Ensure you network constantly to find new potential clients. Networking can lead to collaborations, referrals, and growth opportunities. Connect with fellow freelancers, industry professionals, and attend conferences — try to tie networking and business development in with professional development by learning about the emerging trends in your field.

Becoming a freelancer offers the freedom to shape your career on your terms. Setting up a ltd company, securing professional insurance, and choosing the right business checking account are the first steps towards a potentially fulfilling career path.

To connect with employers seeking to hire freelancers, speak to Movemeon today.

Would you like to hire a freelancer for your team or want to know more about it? Get in touch with one of our in-house experts!

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5 min read
Beyond MBB: Why to look outside of MBB when hiring for strategy functions this September

4,000+ organisations trust Movemeon to solve strategy, transformation & general/commercial management challenges.

Movemeon
18 Sep
2024

In the ever-evolving landscape of corporate strategy, the art of hiring has taken centre stage. Traditionally, the onus has been on recruiting from the illustrious trio of McKinsey, Bain, and Boston Consulting Group (MBB), but considering a more diverse talent pool could be a strategic masterstroke.

1. Diverse Talent, Diverse Expertise

Their dominance makes it easy to forget, but there's a whole world of strategic expertise outside of MBB. The trio have surprisingly low intakes each year, meaning that thousands of talented consultants develop outside of the traditional MBB bubble. 

Additionally, many graduates join boutique firms due to their own areas of specialisation. Organisations such as OC&C have honed their expertise in retail, while Roland Berger have an outstanding reputation in consumer goods. Their specialised consultants bring unique perspectives that can prove invaluable when crafting industry-specific strategies and are often as qualified and talented as MBB consultants.

2. A Diverse Mindset for Dynamic Challenges

In today's fast-paced business environment, agility is key. Diverse teams bring a range of perspectives, approaches, and problem-solving methodologies that can be crucial when facing dynamic challenges. While MBB consultants certainly possess remarkable analytical and problem-solving skills, introducing professionals from a broader spectrum can infuse fresh ideas and adaptability into the strategic process.

3. Maximum Value for Money

MBB consultants often earn a premium of around 20% compared to consultants from other top-tier strategy firms. Looking outside of MBB can provide a significant cost advantage without compromising on quality. This is particularly useful when working within the tight salary bands of most large corporates.

4. From Strategy to Implementation

Even if we accept that MBB consultants may have an edge in strategic planning, alternative consultants can outperform in implementation. Executing strategies within a business requires not just a strategic mindset but the ability to navigate cross-functional environments and operational intricacies. Consultants from outside MBB often have more hands-on experience in translating strategic vision into tangible business results.

5. A Faster Transition to Impact

With this increased hands-on experience comes a smoother, more natural transition from strategy to execution. Consultants from specialised firms can hit the ground running faster, thanks to their prior experience in not only shaping strategies but also driving their practical implementation across different business functions.

Conclusion

While MBB consultants have long been considered the gold standard, many of the strategy directors we work with are increasingly open to expanding their horizons by hiring outside of the trio, resulting in more diverse, specialised, and adaptable teams. The skillsets, talent and often value for money of consultants from strategy firms like OC&C, Roland Berger, LEK etc. make them potential strategic differentiators that can propel organisations toward unprecedented success.

Movemeon was founded by two MBB alumni, but works with consultants from a comprehensive range of firms. Find out how we can help hire a specialised strategist for your team.

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5 min read
The benefits of hiring platforms

Recruitment platforms are an increasingly popular and effective means of job seeking; we examine why, and the potential benefits for employers.

Movemeon
18 Sep
2024

Following the Great Resignation, employers face an increasingly difficult task in attracting the right candidates to their organisation. Most recruitment channels, especially LinkedIn, are saturated, and the traditional recruitment agency experience is a negative one for candidates. 

However, employers can improve their own prospects through the use of recruitment platforms. These are an increasingly popular avenue for jobseekers to find work, and offer various benefits to the employers using them including reduced time-to-hire and lower costs.

Talented people are in demand

According to a survey of over 90,000 jobseekers conducted by BCG, 80% of people working in business management and 78% of those working in financial services are approached about new jobs at least several times per year. 72% of each group felt that they, rather than their potential employers, were in the driving seat when it came to salary negotiation.

Top talents will have many options, and they know it. Negative hiring experiences are a major turnoff in a highly competitive labour market; it isn’t just about making the best financial offer. 52% of respondents to BCG’s survey said that a strong negative experience during the selection process would put them off accepting an otherwise good offer, higher than any other factor. 

Candidate experience is everything. Interview processes are two-way streets, and in-demand workers are assessing their prospective employer as much as the other way around. Employers need to take an end-to-end approach to their hiring processes, ensuring that it is seamless and intuitive from the start to set the best impression. Recruitment platforms are one of the best places to start.

Platforms can improve hiring outcomes

More than half of the respondents said that they would use a recruitment platform, such as Movemeon, if they were looking for a new position. Further, when asked how they came by their current position, platforms had the highest response rate, at 29%. Recruitment platforms are a popular and effective means of scaling recruitment efforts. 

Choosing the right platform is therefore key to building an efficient hiring process, and it can bring various benefits:

Reduce time-to-hire.

CIPD data shows that over half of companies using technology in their recruitment process found that it enabled them to screen out unsuitable applicants to some or a great extent.

Improve candidate experience. The same CIPD report shows that 78% of companies reported an improvement in candidate experience as a result of using recruitment technology.

Reduced costs.

Cost-per-hire is typically lower through recruitment platforms than through agencies, largely because much of the work an agency performs is automated by a recruitment platform. Further, with more efficient resourcing tools, in-house recruitment teams can do more with less, making them smaller and leaner.

Facilitate cleaner data management.

Recruitment platforms tend to automatically log key hiring process data, especially when integrated with an ATS. This means cleaner, more thorough and less time-consuming data management, with analytics functions often included too.

For example, a multinational consumer-goods company cited by McKinsey found that adopting digital hiring tools delivered $1m hiring cost savings per annum (across approximately 800 hires, meaning a saving-per-hire of $1,250) as well as a 90% reduction in cost-per-hire

Movemeon, for example, offers various key advantages to candidates and employers. Rather than face the hassle of fielding cold calls from recruiters, candidates can receive notifications whenever they match with a company on the platform. This creates a better and more positive candidate experience, increasing the chances of a positive hiring outcome.

Likewise, hiring companies can strip out the time and effort needed to process irrelevant applications. No recruiters forwarding disinterested or underqualified candidates; matching candidates on Movemeon ensures that every connection is made with engaged, highly talented applicants.

Above all, candidates on Movemeon are a specialised community of current- and former consultants, each of whom trusts Movemeon as a partner to match them with roles highly suited to their backgrounds. As such, employers can find candidates through the platform that simply aren’t looking in other places, or via agencies.


Find out how Movemeon can improve your hiring through our innovative platform and global network of consultants. Get in touch with on of our experts!

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5 min read
Characteristics of firms that thrive in uncertainty

Exploring the characteristics that enable consulting firms to thrive even during periods of economic uncertainty.

Movemeon
18 Sep
2024

In a world riddled with uncertainty, certain firms manage not just to survive, but to thrive. Smaller, more agile firms appeal to candidates in an increasingly competitive marketplace: Movemeon’s 2023 application trends show that the top four firms by number of applications received were all boutiques with a clear industry specialism and mission, and collectively received the same total number of applications as the next 16 companies combined.

This tallies with insights from our 2023 freelance report and 2022 index report, which showed that consultants changing firm while staying in advisory tended to want greater impact. Sideways moves, leveraging their existing (strategy) skills, are enabling more mission-driven career changes.

When compared with external data, it is clear that these career choices reflect broader changes taking place in the consulting industry, as advisory firms and their clients adjust to rapidly changing market conditions.

Agile strategy

In uncertain times, it pays to be adaptable. Tough economic times go hand-in-hand with severe downturns for particular industries and sectors, but it is often hard to predict which markets will be affected and which will endure. 

Companies that rely heavily on a single market or revenue stream are at risk, and it is harder for large organisations to pivot quickly if their core customer base suddenly cuts spending. Smaller businesses, however, typically have faster iteration times; they are used, by necessity, to constantly monitoring, assessing and pivoting their offerings.

This is why smaller companies are currently proving more popular on Movemeon; candidates are clearly attuned to the advantages of boutique firms in the unpredictability of the currency business cycle. 

The need to adapt is also driving hiring behaviours in these firms. Boutique consultancies are increasingly engaging specialists in a variety of niche markets and industries, especially social impact, government and energy consulting.

Contractors are increasingly popular, their flexibility offering much-needed expertise while retaining the ability to cut costs and pivot quickly if necessary. Movemeon’s most successful advisory partners are increasing their use of contractors, as our Advisory Lead, Ethan Cho, mentioned in his most recent newsletter.

Strategic Talent Management

Talented teams drive innovation and navigate change effectively; research from McKinsey Global Institute found that the world’s most successful businesses typically combine investment in talent development with a culture of innovation.

However, gaps exist between supply and demand for certain skills. Companies must therefore be ready to offer training, either to existing staff or to new hires who may lack industry-specific experience but who demonstrate the right transferable skills.

Firms that invest in employee development can see improved talent retention; research from LinkedIn shows that 94% of people will stay at a company longer if it invests in their career development. Similarly, effective in-house training programmes mean these firms can cast the net wider when they do hire, accessing a broader talent pool. This in turn will naturally improve diversity, which improves a business’s ability to adapt and innovate.

Companies offering effective training programmes do well to broadcast them during the hiring process, since candidates, particularly younger ones, are increasingly interested in internal development opportunities when assessing competing job offers.

Movemeon’s in-house experts can advise on the best way to position training programmes in job adverts. Get in touch here!

Are you a candidate and looking for a new opportunity? Log in and view all open jobs on Movemeon!

Global vision

Geographical diversification can limit exposure to localised uncertainty. 

While “traditional” markets (especially the US, UK and EU) are undergoing a period of economic uncertainty, other geographies, particularly the Middle East, are thriving. Projects are in abundance, and advisory firms are relocating teams and resources here; the FT reported in February that, even as consultancies looked to cut costs in their home markets , firms like PwC were increasing the number of staff deployed in the region.

Boutique and medium-sized firms are also joining this trend, and allocating resources accordingly. For example, Roland Berger’s annual meeting earlier this year saw a quarter of all its partner appointments made to its Middle East practice, while Renoir Consulting acquired Dubai’s ESG-Integrate last year to boost its presence in the region.

Movemeon’s Advisory Lead, Ethan Cho, has been supporting boutiques and large firms with their Middle East expansion. Feel free to reach out for more information or if you have questions about Movemeon’s candidate base in the Middle East.

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5 min read
What to pay a new hire - boutique consultants (2023)

Find out what to pay someone from a boutique consultancy you hire for your business or team when calculating how much to pay them.

Movemeon
18 Sep
2024

When hiring former consultants into their businesses, companies often fall into the trap of letting the big three strategy houses – McKinsey, Bain and BCG (MBB) – skew their data.
In fact, these three companies typically pay elevated salaries for consultants at all seniority levels, by approximately one third of annual salary. Here, we review the average salaries that consultants leaving boutique management consultancies typically seek.

Analyst

At Analyst level, consultants from boutique firms typically earn £47,000 per annum. This is approximately 36% less than analysts at MBB companies earn. It is worth noting that, at Analyst level, salary will make up approximately 87% of total compensation, with bonus accounting for 10% and pension for 3%.

Associate

The gap narrows slightly at Associate level, where consultants from boutique consultancies earn an average of £73,000, 27% less than their counterparts in MBB firms.

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Manager

Managers at boutique consultancies earn, on average, £98,000. This is approximately two thirds of the salary that their equivalents in MBB firms earn. Base salary accounts for 84% of manager compensation, with bonus rising to 12% of the total.

Director / VP

Director / VP level consultants in boutique firms earn, on average, £172,000, again close to two thirds of the salary that their MBB counterparts earn. At Director / VP level, base salary forms just 79% of total compensation, with bonus comprising 16% and a further 2% being equity.

Movemeon partners with over 80,000 consultants worldwide, from all types of firms, to ensure our clients can find the perfect fit for their needs.

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