McKinsey recently extolled the virtues of their alumni network, announcing that approximately 450 ex-McKinsey consultants are CEOs of companies with more than $1 billion in annual revenues. This is an impressive statistic underscoring how companies should manage staff departures. Undoubtedly McKinsey also counts on 450 apostles and prospective customers, among the more than 30,000 in their alumni network. This move is also a marketing masterstroke, not only for prospective job applicants (the most important input in McKinsey’s value chain), but for their customers who continue to herald the firm as an exceptional crucible for talent and breakthrough insights. Why more firms do not follow this approach is puzzling.
Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.