Mckinsey Case Study

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McKinsey is an international consulting firm, consisting of more than 10,000 consultants and approximately 2,000 research specialists with more than 1,400 partners all around the world. McKinsey was founded in 1926 by James O. McKinsey. Nowadays the organization’s clientele comprises 80% of the world’s largest corporations and a vast range of private, social and public organizations . The firm takes a sequential approach to recruitment and development of its employees. Colossal amounts of money are invested in identifying extraordinary people, developing skills, and constructing an environment which helps to foster employees’ growth as leaders. The company has advanced an "up or out" policy, which states that employees without promotion are …show more content…
McKinsey’s clients must be sure that the company puts their interests ahead of the firm’s.
Adaptation of new personnel (key methods, steps and activities)

A well-organized adaptation procedure is designed to help not only a new employee of the company, but also the company itself. Thus, the presence of a well-built orientation program allows an employee to overcome the anxiety and uncertainty in an unfamiliar team in a short period and feel the satisfaction from his or her new place of work. The successful adaptation of new employees has a positive effect on the company's performance: it allows both managers and ordinary employees of the company to save the time it takes them to train newcomers; besides, it gives an opportunity not only to reduce the initial costs, but also help to reduce staff turnover (Maslova, 2015). The issue of a well-designed adaptation program is especially acute in large companies, where the number of new employees is usually quite large. In fact, McKinsey receives about 225,000 employment applications every year and approximately 2000 people (1% of all the applicants) are hired (McDonald, 2013).
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Effective orientation is the next step and it is the process of an employee’s adjustment to a new status, establishing interpersonal relations with colleagues and the company’s leadership.
4. The final stage implies a gradual overcoming of industrial and interpersonal relations and transition to stable work. McKinsey & Company hires extraordinary talented people, but there are no expectations that the company’s new members would know everything on the first day and the adaptation and training process starts as soon as an employee joins the company. A properly organized process of adaptation and orientation of new personnel is distinguished by the existence of a clear structure, skillful planning of the program of activities, its clear content and a clear definition of the roles of participants in the process. Thanks to a well-constructed adaptation program, a newcomer can not only get an idea of the specifics of the company's work, but also get the experience necessary for further career development. There are three main steps of adaptation in McKinsey. All new recruits of McKinsey without an MBA must complete a three-week course (mini-MBA program) to receive business skills and knowledge of accounting, marketing, finance and leadership which are not taught in MD or PhD programs (Schmitt, 2015). Mini-MBA course is a pre-stage of adaptation in

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