Number of Chartered Consultants Doubles as Chartered Management Consultant Award (ChMC) Anniversary Approaches

LONDON, April 27, 2022 /PRNewswire/ -- The Chartered Management Consultant Award (ChMC) is celebrating a year since its official launch with significant growth achieved in its inaugural year and the number of consultants and firms involved doubling. Conceived, developed and founded by the Management Consultancies Association (MCA) and the Chartered Management Institute (CMI) in conjunction with the industry, it has:

• Received the backing and commitment of the some of the largest firms in the industry who will roll it out to their entire graduate intake and put thousands of consultants through ChMC
• Proved to reduce attrition in consulting firms below industry averages by investing in career pathways for individuals
• Raised standards of training and development within the industry
• Attracted record numbers of applicants  from leading small, medium and large firms as well as the independent sector
• Received significant backing from private and public sector clients including HM Government

To date, over 600 consultants have been awarded Chartered status with more than 3,000 currently on the journey. Sixteen firms have now had their training and development schemes accredited with a further 10 to be authorised to train and develop Chartered Consultants in the near future. Firms range in size from larger firms such as PwC, EY, KPMG and IBM Consulting, Arup and Moorhouse to smaller firms including PPL and Akeso and Co.

Recent figures collected by the MCA and CMI have shown that leading firms which have rolled out Chartered have benefited from reduced attrition rates and better retention of staff by offering their individuals a clear career path and marking their firm out as a leader in the market for the highest standards of training and development. For those firms that have offered ChMC to their people, some have experienced a 100% retention rate of people and others have experienced significantly lower attrition levels than industry averages.

In recognition of the popularity of ChMC and following demand from young consultants, the MCA and CMI is also launching an Associate Award for consultants to opt for earlier on during their career. This new award for young consultants is aimed to aid talent retention and maintain motivation of individuals on the journey towards Chartered status. The Associate award is for consultants who can demonstrate a minimum of 3 years' experience in management consulting and will provide added value and recognition of early achievement for individuals on an accredited programme which takes 5 years to complete.

Young MCA Chair and Senior Consultant at EY, Hassan Kamara said:

"For young consultants especially, a high-quality framework for learning, an accredited programme and Continuous Professional Development (CPD) are key drivers for developing a long-term career in consulting. The introduction of the Associate Chartered Management

Consultant accreditation and the commitment from some of the industry's leading firms to provide the Chartered opportunity to consulting graduates will play an important part in developing future skills and talent for the profession."

MCA Chief Executive, Tamzen Isacsson added:

"It has been a really encouraging launch year for Chartered with major announcements by some of the world's leading consulting brands who are committed to offering all their staff ChMC. Maintaining the highest of standards is vital to the future of the management consultancy industry which constantly needs to keep on the cutting edge of training and development and Chartered assures clients of those standards. Recent figures on attrition rates have shown ChMC has proved to be an important tool in attracting and retaining the most talented of staff to the profession. We are really encouraged that young consultants have helped shape the new Associate Award which will provide an opportunity for consultants early on in their career to get recognition of their talents and achievements. This will kick in after 3 years and help aid talent retention and keep individuals motivated on the journey to becoming fully Chartered."

CMI Chief Executive, Ann Francke OBE, said:

"What a great first year it has undoubtedly been for the Chartered Management Consultant award. We are delighted to see both the progress made in raising awareness of the award and the appetite to get Chartered amongst the management consultancy community.  All of us at CMI are proud to work in partnership with the MCA in delivering ChMC and helping to drive up standards across the sector. We look forward to a bright future ahead for the award and its positive impact in creating recognised professional pathways for management consultants. " 

Both MCA and CMI have worked closely with the UK's clients of management consultancy services, including the public sector. Government has been involved since ChMC's inception and are also impressed with the awards remarkable progress in such a short space of time.

Parliamentary Under Secretary for State for Business, Energy and Industrial Strategy (BEIS) and responsible for Professional Services, Minister Lee Rowley MP, said:

"The Chartered Management Consultant Award is a major positive step for the industry of management consulting, where I began my own professional development. I am confident that this award will continue to nurture talent and provide recognition for the highest of standards in years to come."

Further information on the Award (ChMC) can be found at Chartered Management Consultant Award and to sign up for the ChMC monthly newsletter designed for both consultants and clients in all sectors, register here.

Notes to Editors

* MCA Annual Member Survey 2022

ChMC

The Chartered Management Consultant Award (ChMC), has been created in a joint partnership between the Management Consultancies Association (MCA), the trade association for the UK's leading consulting firms, and the Chartered Management Institute (CMI), which was appointed by the Privy Council as the Awarding Body. The initiative has been developed for the purposes of setting and maintaining the highest standards in the management consulting profession and creating an award which recognises consistent and high levels of professional competency and achievement. 

The benefits of Chartered status to individual consultants, firms and clients is invaluable. The award will showcase Chartered status and serve as a pillar of recognised excellence for clients. Chartered status helps attract and retain talent as well as Chartered individuals adding incremental value to their organisations and adding a positive impact on the reputation of their business. This shows a true commitment and regard to upholding the competencies required to achieve Chartered status to clients.

MCA firms that have accreditation and/or assessments are: 

The Management Consultancies Association (MCA):

The MCA is the representative body for the UK's leading management consulting firms. For over 65 years, the MCA has been the voice of the consulting industry, promoting the value of consulting to business, the public sector, media commentators and the general public. The MCA's mission is to promote the value of management consultancy for the economy and society as a whole. The MCA's member companies comprise over 50% of the UK consulting industry work with the vast majority of the top FTSE 100 companies and almost all parts of the public sector. The UK consulting industry is amongst the best in the world and a vital part of the business landscape. Click to see the full list of current MCA members see link.  

Compliance with the MCA's tough entry criteria and adherence to the principles of Consulting Excellence means that MCA member companies are widely acknowledged to provide high quality services to their clients. Many of their achievements are recognised in the annual MCA Awards. 

Chartered Management Institute (CMI)
The Chartered Management Institute (CMI) works with business and education to inspire people to unleash their potential and become skilled, confident and successful managers and leaders.

With a wealth of practical qualifications, events and networking opportunities on offer throughout the UK and Asia-Pacific, CMI helps people boost their career prospects and connect them with other ambitious professionals in any industry and sector.
In fact, CMI has more than 79,000 people training to be better managers right now.
Backed by a unique Royal Charter, CMI is the only organisation allowed to award Chartered Manager status – the ultimate management accolade.
CMI's thought leadership, research and online resources provide practical insight on critical issues for a 132,000 plus membership community and anyone looking to improve their skills, nurture high-performing teams and help pave the way for the next generation of managers and leaders.                                               

For more information, please visit www.managers.org.uk

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