Page 227 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

Building Your Team: Human Capital Strategies for the GCC 209

Their proposition is compelling: work with us and you’ll build a
superb skill set that you can take almost anywhere and become a
leader. These firms don’t promise lifelong employment or immedi-
ate wealth; they promise unmatched development opportunities.

Development Covenant: The Professional Services Approach
The world’s leading professional services firms—consultancies,
investment banks, accounting firms, law firms, marketing agencies,
and the like—have refined the practice of high-caliber recruiting to
an art. Since the quality of their staff is the key value proposition
they bring to clients, these firms see attracting the best and bright-
est as fundamental to their success. These firms have, over the
decades, come to understand that the optimal time for them to
attract talent is early in their careers—often directly from university.
Some of the tactics employed by leading professional firms
include aggressive on-campus recruiting, proactively inviting
especially bright students to private dinners with senior staff, and
sponsoring student activities such as business plan contests. These
tactics, along with decades-long track records of attracting talent
from the same or similar universities, position the professional
services firms as the natural next step for bright students. It’s not
surprising, then, that up to half the graduating class of leading
business schools often join management consulting, investment
banking, or similar professional services firms.
The promise made by professional services firms to young
talent could be called a “development covenant.” Among the key
elements of this covenant are:
● Providing an unmatched skill set, built rapidly and
efficiently
● Offering a development-focused culture, with frequent
training and feedback
● Mentorship by senior staff with similar “star”
backgrounds
● A brand on the r´esum´e that will lead to abundant future
opportunities
● The chance to work with leading clients and their senior
managers