Value Generation

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Consultancy is a dirty word to many an employee. The idea of a bunch of suited consultants coming in and telling you how to do your job or, worse, telling someone else you don’t know how to do your job has created a huge rift in the world of business.

On cursory reflection I can think of three separate occasions in my work life when I have seen the eyes roll, the eyebrows raise and the teeth start to grind when a newly appointed CEO, COO or MD “brings in the consultants” to the chagrin of a workforce who may already be feeling over-worked, under-appreciated and un-safe.

It is difficult to argue with some of the stories you hear and, from many of the conversations I’ve had, it appears to me that there are two scenarios that seem to be a recurring bone of contention.

The first is that consultants don’t stick around.

The second is that they do.

Some consultancies are renowned for creating beautiful PowerPoint presentations that capture all the issues and present the “Big Ideas” for fixing them. These are left with the executive or senior leaders to figure out how to implement or be responsible for creating the shared understanding of an issue that was created by someone else who isn’t there anymore. Low and behold, 12 months later the consultants are brought back in to try again as everything they said made so much sense last year…

Other consultancies take root in their clients’ offices. They create a co-dependency on them and up-sell engagements again and again in order to release the true benefits of their wisdom. Whatever they are!?

The single, simple thing that is missing is a clear definition of value;

  • What is the value

  • How is it realised

  • When will it be realised

  • Who is responsible for realising it

Determining what the value is on any consultancy work starts on day zero. Focussing on a base and evaluation model ensures that value is clearly understood and referred to throughout a project’s lifecycle and beyond. This method is the cornerstone of every client engagement LEC embark upon.

Building a program of work around the values instantly clarifies the work required to realise the value and when it should be realised.

Most importantly, the level of client engagement LEC promotes goes well beyond the regurgitation method of other consultancies. Relaying the information given to us by senior teams back to them in a slightly different format does not an engaged client make! Workstreams should be presented to, understood by and embraced by the teams who will create, own and enjoy the value everyone now understands and is just waiting to see.

As an example, a recent project committed to providing £200K cash positive result over a 30-week project with a forecasted 5:1 ROI. In fact, over £2M annualised, tangible savings were realised and the company continues to grow and implement the lessons learned on the project.

Not understanding value results is never really knowing what success is. LEC is a company based on pride in its successes, knowing what a job well done means and never settling for anything less.

Get in touch today to start to understand your true value

Mat AllmanComment