By: Murray Kronick, FCMC
If we truly believe that “people are our greatest asset” as the old saying goes, we generally don’t treat them as assets. Traditional assets such as furniture, buildings, and intellectual property are treated in a prescribed manner on financial statements as well as the ongoing care and maintenance of that asset.
In his first published academic paper in the Management Consulting Journal, author and FCMC Murray Kronick challenges the notion of considering people as expenses only and introduces five different models (or asset classes) of a management consulting firm’s greatest resource - its people.
Some of these models have been around for decades, some are emerging, and all are changing with the incessant demand for adaptation of our management consulting industry worldwide.
If you're in a professional services firm such as a management consultancy, how do you hire and manage the people who are most skilled, adaptable, empathic, and the best team players? This paper explores five models of professional competencies that you can use to maximize or optimize your human capital. As a bonus, the fit of the individual within the consulting firm will show itself through increased morale and longer retention periods.
