Analyst consultants as people are generally:

1) Knowledgeable about the topic at hand2) Well-connected within the industry3) Effective communicators 4) Have a reputation and/or brand (based on experience,

publications, etc)

Companies often face questions that they are incapable of answering or too busy to properly address. This is where consultants come in, armed with the above 4 traits, to help address precisely those questions.

The consulting industry can be segmented accordingly:

1) Management consulting firms (e.g. McKinsey, Bain)2) One-stop-shop and technology-focused consulting

firms (e.g.: Accenture, Deloitte)3) Niche/boutique consulting firms (e.g. Mercer HR, Kurt

Salmon)4) Independent consultants

Types of Analyst Consultant in the corporate world:Financial AnalystSystems AnalystHR AnalystOperations Analyst The primary role is to come up with the most comprehensive, data-driven insights and answers that the clients don’t already know. These will form the basis for recommendations that the team will provide and from which the clients will (ideally) make changes to their business to result in one or more of the following:Increased revenueReduced costsClear strategic directionGame plan for hiring and firing of employees

To focus more on the Tactical and Strategic growth of the business and concentrate on its core capabilities rather than spending a large percentage of their time in the daily admin related tasks.

As Manpower is the prime resource of an organisation, thus the presence of HR has immensely increased in the last few decades. The employee strength is increasing day-by-day and similarly the requirement to outsource HR activities like payroll, insurance, attrition check, performance appraisal, counselling etc.

Human Capital

The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an

organizational workforce.

Core Competency

A unique capability that creates high value and

differentiates an organization from its

competition.

Employee and Labour Relations Compensation and Benefits Staffing HR Development Equal Employment Health Safety and Security Strategic HR Management

Current SituationHR largely operates as back room function Internal functions and processes not effectively managedNo measurement of value and non-value adding functionsLack of technology utilization

InternalReduce HR services costs, improve

service quality Build workforce with right portfolio of

skills and knowledge Identify skill and competencies to meet

vision Manage workforce on global basis Develop retention programs

ExternalIntensifying competition locally and

globallyDemand for increased level of service and

quality Aggressive and dynamic advancement in

technologyMergers and Acquisition

Note: Example percentages are based on various surveys.

Source: HR Department Benchmarks and Analysis

Preparation is paramount Be a knowledgeable buyer Realistic goals and expectations Strategic vision Consider permanence of

outsourcing

-costs involved in switching to outsourcing

-vendors or ending HRO Find the right vendor

Typical Problems

Lack of measurementRush into autonomy too soonUnrealistic expectations and goalsOutsourcing for the wrong reasonsOverly focused on cost savingsLack of communicationDifficulties managing vendorEmployee resistance

HR DivisionReduce HR service delivery cost by automating key HR business processesHR gets to focus on strategic issues moreManage workforce with right portfolio of skills and knowledgeManage reward programs to attract, motivate and retain skilled workersData Entry - increase error detection/reduce correction costEliminating cost related to printing and dissemination of information to employees

BusinessAble to have multiple physical presence, with one virtual HR DepartmentReact quickly to a continually changing business structureObtain human capital information from anywhere in the world, e.g. China, etc.

EmployeesImproved levels of service from HR to meet employees’ demandsEmployee self-service allows quick and immediate access to infoEmployees’ career development and appraisal done more effectively and efficiently

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