Executives Say Big Consultancies Are Often Not Worth Hiring

A recent survey has unveiled significant dissatisfaction among senior executives regarding the effectiveness of the three leading strategic consulting firms: McKinsey, Boston Consulting Group, and Bain. Commissioned by the digital consultancy Emergn, the study involved responses from 702 executive staff and project managers who participated in corporate transformation projects with these firms. The findings indicate that a staggering 84 percent of respondents felt that the consultancies provided little to no assistance in their efforts. Only a small fraction, 13 percent, reported that the consulting firms were more helpful than harmful, while a mere 3 percent indicated that their involvement had a negative impact on the projects. This overwhelming sentiment raises questions about the value these prominent firms bring to organizations seeking transformation and improvement. Alex Adamopoulos, founder and CEO of Emergn, commented on the results, suggesting that the traditional approach of large consulting firms may be outdated. He described them as "big consultancy armies with briefcases," implying that their methods often rely on a one-size-fits-all strategy that fails to address the unique needs of individual organizations. The survey results highlight a growing concern within the corporate sector about the effectiveness of established consulting practices, prompting a reevaluation of how organizations engage with external advisors in their transformation journeys. As companies seek more tailored and impactful solutions, the future of traditional consulting may be at a crossroads.