The consulting industry today is more fast-paced than ever. It is on the cusp of disruption, and both consultants and their clients have to keep up with industry events and happenings. For this very purpose, we curated the latest and some of the biggest consulting industry news for your perusal. Read on!
KPMG, Blue Chips Partner B-Schools To Aid Analytics Skills Crunch
“KPMG, retailer Dixons Carphone and Genpact, the IT services company, have partnered a trio of business schools to help close the analytics talent gap. The blue chip firms and KPMG will educate future executives on the explosion of business data that is shaping their organizations. These companies have told BusinessBecause their investments will likely lead to MBA job opportunities.”
Why Consulting Is a Revolving Door for MBAs
“A majority of MBA grads flock to one industry in particular:consulting. But Bloomberg data shows that they’re not likely to stick with their jobs in consulting. Even though consulting is the most popular of the three industries that claimed the majority of business school graduates this spring (financial services and technology are the other two), it’s also the one MBAs are most likely to move on from a few years later.”
Yahoo hires McKinsey to figure out which businesses to shutter/sell
“Consulting giant McKinsey has been hired by Yahoo to “help the company decide which units to shutter, which to sell, and which to invest more in,” re/code’s Kara Swisher reports. Swisher adds Marissa Mayer has “over the last month asked her top executives to make three-to five-year commitments to Yahoo,” and said in late August and early September they had to promise to remain either verbally or in writing. Yahoo is coming off a Q3 in which its display ad revenue grew just two percent year over year, and its search click-driven revenue (excluding Microsoft payments) rose three percent.”
Uber raids Goldman Sachs for talent
“Ride-sharing company Uber recently lured away three mid-level tech bankers from Goldman Sachs. It is the latest example of the tech world poaching Wall Street for talent. Google parent Other examples include Alphabet, which acquired Ruth Porat from Morgan Stanley, where she was CFO, and Alibaba, which recruited Michael Evans from Goldman, where he was a vice chairman.
Bankers are often attracted by the stock options, share grants, and the flexible hours that come with new jobs. For tech companies, having bankers on staff can help smooth the path to an initial public offering and other attempts to raise capital. Goldman has lost so many employees to startups and private equity firms that it’s working on promoting junior bankers faster in a bid to retain them.”
Source:International Business Times
FTI Consulting Releases 2015 Holiday Retail Report
“FTI Consulting, the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, recently released its 2015 Holiday Retail Report:Still No Urge To Splurge. While consumer confidence is fairly high, experts from FTI Consulting’s Retail & Consumer Products practice believe many shoppers are not eager to splurge this holiday season, and as a result, retailers are planning with a mindset of modest expectations.”
Deloitte uses gaming app to attract broader range of talent
“The Firefly Freedom app is aimed at finding recruits with high potential who otherwise might get lost in the traditional selection process. This move follows on from previous announcements by the firm that it would adopt school and university-blind interviews and contextualise academic data at all stages of the recruitment process. The overall aim is to diversify talent and reflect changes in wider society.”
KPMG Tops Legal Times Rankings In eDiscovery, Litigation, and Investigation Services
“The Fifth Annual Best of Legal Times rankings found KPMG LLP, the U.S. audit, tax, and advisory firm, the number one service provider in five categories for the firm’s eDiscovery, litigation dispute advisory, litigation valuation, and investigations services.
KPMG’s Forensic practice helps organizations achieve the highest level of integrity and manage the cost and risk of litigation, investigations, and regulatory enforcement actions by assisting with the prevention, detection and response to fraud, waste, abuse and other forms of misconduct; the avoidance and resolution of disputes; and the collection, discovery and analysis of electronically stored information.”
Wall Street is betting on a big rebound in a grim business
“There’s one business on Wall Street where deal flow is at a fraction of what it was a few years ago. It’s also the place where bankers and lawyers are in high demand right now.
Anticipating a wave of new business ahead, Wall Street firms are ramping up hiring for restructuring and bankruptcy specialists. These advisers specialize in renegotiating debt, selling off assets to raise funds, and structuring bailouts by new investors of companies that are struggling amid a recession or as borrowing costs rise. Some big Wall Street banks have dedicated restructuring teams, while others have sector professionals who take on the role of advising distressed companies.”
Ernst & Young Releases Updated Tax Guide for 2016
“Ernst & Young has released the EY Tax Guide for 2016, adding new chapters of information on tax preparation. The annual guide is now available online and in bookstores nationwide to guide taxpayers through the tax season. New to the 31st edition are important updates on tax law changes, including two chapters on premium tax credits and tangible property regulations and how they affect people.”
Source: Account Today
Belfast Google Innovation Lab urges firms to cut costs with better technology
“Large businesses could cut costs by 70 percent through better technology, a director at Google has said. Europe’s first Google Innovation Lab has been opened in Belfast, aimed at encouraging more firms to use the company’s software products. The joint venture with professional services consultants PwC promotes cloud computing and mobile working.”