How to attract and retain the best and brightest in the consulting sector

As many of us know, the consulting and advisory sector is fast paced with a typically consistent level of staff turnover each year. Whilst some might say this is just part and parcel of the industry, firms that can challenge historically conventional ways of hiring and retaining the best talent in their sectors will do well to separate themselves from their competition. Below are some ideas you may wish to consider helping strengthen not only your firm’s position in the market, but your practice or your team’s position:

Offer a Competitive Package and Reward High Performers: Whilst salary is typically not the most important consideration a prospective candidate or an existing employee has, it still ranks high up the list! In the world of consulting, your best performers play a leading role driving team/firm revenue, they need to be looked after. Consider ways you can reward them. Maybe it’s a competitive base, with an attractive bonus/performance scheme or additional days of leave, a work from home policy or medical plans. Whatever it is, this is one area firms must not fall short in if they want the attract and retain the best talent.

Make Career Development a Priority: More and more candidates seeking our support do so due to the perception there is no future career prospects within their current organisation. Consider offering training programs, mentorship opportunities, predictable and regular reviews. The more someone sees their career path within their organisation, happier they are likely to be and the less likely they will seek an opportunity externally.

Create a Positive Work Environment: Places where people feel valued are places where people will want to stay and want to flock to. Team based activities, health initiatives or giving back to your local community are increasingly being sought after. Recently I have had candidates ask me about what my clients are doing to promote inclusivity, diversity and equity and how do they differ from one another. Something employers increasingly need to think about.

Embrace Technology: In today's digital age, technology plays a crucial role in the consulting and advisory industry. By embracing technology, you can attract top talent who are looking for innovative and forward thinking companies.

Create an Employer and Leader Brand: Consider leveraging social media to showcase your brand and place of work. Everybody is using social media these days, share your workplace and promote it to your prospective candidates. It is also important for leaders to be well known, so that prospective talent can get an insight into their prospective boss, consider leveraging social media to market yourself as a thought leader – write a blog, create a podcast or attend exhibitions not only is this great for prospective clients to get an insight into your expertise, but for prospective employees too.  

If you are not doing the above already, consider implementing some of these strategies, so you can attract and retain top talent in the consulting and advisory industry in Asia. Remember, top talent is crucial to the success of any business, so it's worth investing the time and resources to make your company an attractive place to work.