Are Management Consultants Worth Your Time And Money?

To avoid group think or to obtain objective input to the decision process retaining a management consultant may be one of the best choices you can make. A well qualified consultant can lead you to solutions that are unaffected by internal biases and influence. Using experience that comes with multiple years Consulting Fee Agreement of exposure to diverse companies and industries a consultant will quickly determine the root cause of a problem, assess the impact, guide you to a solution fitting your company and culture, and develop a plan of action that implements the solution with the minimum disruption at the least possible cost.
Completing the action plan could signal the end of the engagement but a consultant worth their salt should have the ability to help you implement the solution, either directly or by recommending other qualified vendors, or by coaching key employees to implement the recommended actions.
Once you decide to hire a consultant how are you going to choose one that best suits your company? Searching the internet will provide thousands of possibilities, but then what? Are all consultants created equal? If not narrowing this list to only include those with serious potential becomes a major undertaking. Searching for and choosing the right consultant should begin in one of the following places: those you’ve worked with in the past, those recommended by a trusted advisor or those recommended by a trade association representing your industry.
Once you develop a reliable list of three to five prospects subject each to the same interview process you would use to select a key team member. The final selection should be based on the level of trust you can develop with the consultant, their experience and their ability to fit in with your company. Regardless of the length of engagement Consulting Techniques if you can’t trust your consultant, if they don’t have the skills and experience you need, or if they rub everyone in the company the wrong way you can’t win. You’ll spend the remainder of your time on earth telling everyone it isn’t worth their time to work with outside consultants. Send your money to me; it will be just as well spent.
So now that you’ve selected a consultant you can work with what’s next? The absolute first thing you must do is to develop a concise, unambiguous statement of work, interim goals, and a schedule. These need to be included as a binding part of the contract and any change to the scope of work must be bilaterally agreed on and incorporated into the contract. Second, use the time between ratification of the contract and the start work date to arrange for facilities and/or network access. Don’t put yourself in a position of having to pay for dead air time. Assemble all the materials the consultant will need to begin their task and schedule any previously identified meetings to reduce possible conflicts. Finally, if appropriate, let the employees know that there will be an unfamiliar face around the coffee pot.
An outside consultant can be your biggest asset or worst nightmare. You hold the controls.

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