Vencon Research has conducted this “Pulse Survey” in the light of the unforeseen and unknown economic, financial, and personal impact of the “COVID-19 crisis” on all our lives.

Covid-19 Pulse Survey

This Pulse Survey is a result of a number of requests over the last few weeks from our clients wishing to find out how other professional services firms are reacting to the crises. We know from our clients that various measures are being taken in order to adjust to the economic impact of the pandemic and also to prepare for the long(er)-term financial effects. These measures vary by geography, type of firm/business, size of firm, etc.

Therefore, we reached out to HR teams at professional services firms on a global basis to find out how their firms are reacting and adjusting to the crisis with regards to their workforce, hiring, and reward policies, etc. This report summarises the results of our survey (based on a total of 46 questions).

Not surprisingly, many firms experienced a negative impact on their business; firms are a bit more optimistic for the coming 3-6 months. COVID-19 and the associated restrictions forced many firms to also change their hiring and recruitment policies. The majority of firms surveyed reported making no changes to their current workforce despite the impact of COVID-19 on their businesses. On the other hand, a portion of the respondents reported that measures have been planned and/or executed to adjust Base Salaries due to the COVID-19 crisis. And, more firms reported that measures are planned and/or executed to adjust Bonuses/Variable Income. For the future the majority of firms expected that the COVID-19 crisis will change their client interaction/communication practices as well as the “place of work”.

Please use the button below to request an extract from the full survey report. In case you are interested in the full report, please contact us.

Our Approach

Analytic

In addition to all the usual compensation data analyses of overall means, percentiles and ranges, Vencon Research reports include a full raw data set, enabling clients to further analyse the data in the manner best suited to their requirements. The data tables, graphics and executive summary are comprehensive and regularly revised in response to client needs.

Comprehensive

Our reports cover more than 70 countries worldwide and provide actionable data for both mature and emerging consulting markets. Vencon Research works with more than 300 leading firms, ranging from independent strategy boutiques to the largest global firms. Our reports represent nearly 400,000 consultants and support staff ranging from junior reception staff to senior partners.

Cost Effective

Vencon Research is exclusively a remuneration data provider to the professional services industries; our research and production capabilities are designed for optimal delivery of these data. Clients can purchase a full report tailored to their line of business for less than a typical BA sign-on bonus. With a progressive discount structure, firms may purchase a dozen country reports for the cost equivalent of a single MBA sign-on bonus.

Current

Within Vencon Research, data collection and validation is a continuous process. This enables us to produce salary and benefits reports at several points throughout the year containing the very latest information. ‘Snapshot’ data can be provided in new or rapidly developing markets where scheduled release dates are insufficient.

Confidential

As their primary asset, management consulting firms are necessarily discreet about their professional staff. By observing the highest standards of data confidentiality, including commitment to any confidentiality agreement deemed appropriate by the client, Vencon Research has been able to establish its position of trust with the leading firms. Participant identity is divulged only to other participating firms and anonymity of individual data lines is paramount.

Professional

Our clients are the elite of the global management consulting industry and operate to the highest standards in the quality of their research, reports and presentations.  By setting the same high standards for ourselves, we enable clients to use our reports, graphics and tables in their original form when disseminating or presenting the information.

Primary Sourced

The principal sources of data are the HR directors and partners of the participant firms. All data are cross-validated against previous data sets to ensure consistency and accurate comparison in the data as presented.

Relevant

Vencon Research's report data are sourced from the HR Directors and responsible Partners of the participating firms. Our generic reports can also be tailored to meet specific client needs, for example mapping their own data line against only upper-quartile competitors.