Candesic reviewed in the Vault guide to European Consulting Firms, October 2006

"Lovin' it..."

Lovin' it

Sources have nothing but love for Candesic culture. Among its most valued qualities are "the good people, the freedom, the responsibility, the flexibility, the location, the day rate, the encouragement", one consultant happily rattles off. And though employees call the firm easy-going, it definitely has a sharp side when it comes to intellect -- a result of pulling consultants from top-tier firms. "Our culture is quite relaxed, but retains the keenness of the analytical side of the big strategy consultancies from where we come," an associate notes. Those who are...

Consulting with a twist

While ex-McKinsey staffer Dr. Leonid Shapiro was waiting for an assignment during the 2001 tech downturn, he decided to be proactive in the face of lagging engagements and shaky job security: He started his own firm. With a few McKinsey colleagues and a group of consultants from well-known firms, Candesic was born in London in 2002. The founder's goal was to create a team offering top-caliber consulting experience and strategy that could undercut top-tier firms' fees by two-thirds, opening the market to smaller companies that may have never considered hiring consultants. With a unique game plan, Candesic has extended the reach of the consulting market to small firms as well as Fortune 500 companies.

The Ryanair of consulting

Modeled after the discount airline industry, Shapiro reworked the typical consulting business model: The firm recruits only experienced consultants and may begin to outsource the number crunching to India. Rather than using full-time employees, Candesic draws on a team of 150 professionals who are a mix of independent researchers and consultants employed in other industry firms. To cut down on overhead, consultants are paid strictly based on performance, and the company keeps its operating costs almost completely variable. This means consultants at the firm are flexible and choose whether or not to accept assignments, and they are paid only when staffed on a project. The business model also means that consultants are able to pursue other interests simultaneously. For example, while undertaking a consulting job, one staffer teaches business school courses, several are launching investment funds and service businesses, and several spend their personal time in the arts. In addition, the firm keeps a network of technical and industry affiliates at several consulting firms to bring topical knowledge to clients on an as-needed basis.

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