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National and Global, United States

Friday, October 16, 2009

Consulting Firms: Staff Attrition as The Economy Improves

According to Consulting Magazine, As the economy improves, most consulting firms will brace themselves for a spike in staff attrition. Firms that have sacrificed firm culture and employee satisfaction in the hopes of driving greater profitability during the downturn, probably have the most to fear. Other firms, who have remained focused on retention efforts throughout the downturn, probably have less to worry about.

So it would logically appear that firms that panicked and only looked at the erosion of their bottom-line, gave up their culture and employee satisfaction, for short term gain would be the hardest hit. And they should be.

They will suffer the most as the economy rebounds, and their professional staff decides they have had enough of the self-indulgent Partners, who selfishly looked at their own personal survival and cared less about their staff...and therefore their clients. Those are the firms that lost their focus, threw the strategy out (or never did have one), and began to lose their 'brand'. And goodbye to those firms, frankly.

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