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HR and Human Capital Consulting Services
This page contains recent published material from Monadnock Research related to firms providing HR and human capital consulting services.
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And in other news: AMCF, Deloitte, Empire Strategic Planning and Mercer
Monadnock Research - 8 February 2012
AMCF names finalists for its consulting project excellence awards. Deloitte and SAP court battle in California continues. Deloitte's former CEO, James Quigley, appointed trustee of IFRS Foundation. Deloitte enters strategic alliance with Salesforce.com. Former New York Senator and Empire Strategic Planning leader indicted for tax evasion and influence peddling. Mercer rebrands outside US as Mercer Marsh Benefits. (675 words) . . . More
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KPMG Advisory Practice Grows 2.5 Times Faster than Audit in 2011; $2 Billion Management Consulting Business Up 29%
Monadnock Research (Vol IV, No 44) - 22 Dec 2011
MR - KPMG International's advisory practices grew at 14.76% in fiscal 2011, for the period ended 30 September. That was 256.7% faster than the firm's global audit businesses grew. KPMG says its global management consulting practices had fiscal 2011 revenue growth of 29% in US dollars and 24% in local currency terms. KPMG has built its $2 billion management consulting business in just six years. Its acquisition of EquaTerra in 2011 dramatically increased the firm's outsourcing and shared services advisory practice. Revenues increased across each of KPMG's geographic regions. Asia Pacific growth was 16.6% in US dollars. Americas revenues were up 10.7%. Europe, Middle East and Africa, including India, increased by 7.7%. Much of the geographic expansion occurred in high growth markets. India was up 25% and Brazil 22% in local currency terms. Research Note includes 1 graphic and MR perspective on Big Four divestitures of advisory operations. (815 words) . . . More
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PwC Partners with Human Capital Consultancy, Aasonn
Monadnock Research - 30 Nov 2011
MR - PricewaterhouseCoopers has formed a strategic alliance with Aasonn, a global human capital management (HCM) consulting and technology services company. Aasonn is a global HCM consulting and technology services firm that serves clients in more than 30 countries worldwide from offices in the US, Europe and Asia Pacific . It has application expertise in SuccessFactors and HCM capabilities across multiple industries and HR functions. (250 words) . . . More
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Consultancy Marketing Deal Brings down Publisher of the Wall Street Journal Europe
Monadnock Research (Vol IV, No 39) - 3 Nov 2011
MR - Andrew Langhoff, Managing Director of Dow Jones & Co. Europe, Africa and the Middle East, and publisher of the Wall Street Journal Europe, stepped down recently after an internal investigation found that a marketing deal signed with Ann De Jaeger, and the HR strategy firm where she serves as a Partner, cast the editorial integrity of the WSJ Europe into question. Ann De Jaeger's firm, the Executive Learning Partnership, also purchased a large number of newspapers as part of the deal, which had the effect of inflating circulation numbers. The WSJ Europe published two articles on 14 March 2011 and on 14 October 2010 that appeared to be legitimate editorial content, but were associated with the marketing partnership, and for which Dow Jones had been compensated. This Research Note includes details on the Dow Jones case, and our perspective on why it's important for clients to vet the intrinsic value of thought leadership content, and not simply take it at face value. (905 words) . . . More
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KPMG Completes Acquisition of Optimum Solutions
Monadnock Research - 20 October 2011
MR - KPMG has completed its acquisition of Optimum Solutions, a leading provider of management consulting and implementation services for Oracle's enterprise software. KPMG says the Optimum acquisition strengthens its Oracle consulting business, helping clients use technology to transform key operations such as human capital management (HCM), finance and accounting, business intelligence and supply chain management. (730 words) . . . More
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Mercer to Acquire HR Consulting Firm, Censeo
Monadnock Research - 27 September 2011
MR - Mercer has signed an agreement to acquire the business of Censeo Corporation, a HR consulting firm and provider of real-time online leadership assessment products and services to help organizations select, develop and retain talent. Mercer says the acquisition builds upon its consulting and strategic talent management capabilities. The transaction is expected to close by the end of October. (500 words) . . . More
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2011 HR Consulting Rates
Monadnock Research (Vol IV, N 23) - 23 July 2011
This Research Note includes the findings a client study of Human Resource (HR) consulting rate structures across a number of industries. More than 85 percent of the rates analyzed were from global entities, including a total of 45 firm-rate structures. All were from organizations that fall within the 1,000 largest global organizations. This report presents statistics across 15 professional classifications, including a percentile analysis for each labor class and detailed descriptive statistics. Rates from firms that were a subject of this analysis include Accenture, ACS, AON Hewitt, Booz&Co, Capgemini, Deloitte, Hay, IBM, Mercer, North Highland, Plus Delta, PA, Point B, PwC, and Towers-Watson. (1 graphic, 16 tables, 6,980 words) . . . More
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AON Acquires Ward Group from Ohio Farmers
Monadnock Research - 19 July 2011
MR - Aon has acquired Westfield Financial Corp. and its subsidiary, Ward Financial Group, from Ohio Farmers Insurance Company. Ward is a leading provider of benchmarking and best practices research and advisory services for insurance companies in North America. It will be integrated within Aon Hewitt's McLagan Partners subsidiary. McLagan now adds the insurance industry to sectors that it serves as a performance consulting and benchmarking services firm with clients that include investment managers, commercial and retail bankers, securities firms, and hedge funds. (710 words) . . . More
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EC Commissioner Barnier Considers Prohibiting Auditors from Offering Consulting
Monadnock Research (Vol IV, N 21) - 1 July 2011
MR The EC Commissioner for Internal Market and Services, Michel Barnier, addressed a conference of the Federation of European Accountants on 30 June, and advocated for a number of auditor regulatory changes that could include a total ban on audit firms providing consulting services and mandated rotation of auditors. Barnier is the EC official responsible for the Internal Market and Services Directorate General and Office for Harmonization in the Internal Market. Speaking before the federation of European CPA's Barnier intimated that he believes the regulatory environment for auditors in Europe is deeply flawed and in need of reform. He proposes the EC focus on: auditor independence issues; opening of the audit services market; and a more integrated European auditor regulatory and certification environment. The issue of auditors offering consulting and advisory services was addressed in his remarks. He believes that a key factor that fuels excessive familiarity between auditors and their clients lies in providing too many consulting and non-audit advisory services. Barnier asks, "How can we view an auditor as independent when the firm also advises the client in the area of strategy?" Research Note includes translation and interpretation of key points from speech associated with consulting. (865 words) . . . More
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SAIC Subcontractors Indicted in $40+ million Alleged Fraud; SAIC Consultant Pleads Guilty in Scheme
Monadnock Research (Vol IV, N 20) - 1 July 2011
MR - Nine defendants have been indicted in connection with an elaborate scheme to defraud the City of New York on its CityTime project. The people named in the indictment are Mark Mazer, Gerard Denault, Padma Allen, Reddy Allen, Dimitriy Aronshtein, Svetlana Mazer, Larisa Medzon, and Anna Makovetskaya. The SAIC subcontractors allegedly complicit in the scheme, along with 2 SAIC employees and a New York Office of Payroll Administration staffer, are Technodyne LLC, D.A. Solutions, Inc. and Prime View, Inc. The contractors are alleged to have grossly over-billed for consultant time on the engagement, and to have employed a network of shell companies and bank accounts in the US and elsewhere to conceal more than $40 million in fraudulently-billed consulting fees. Mark Mazer was a city employee authorized to approve consultant invoices. SAIC employee, Carl Bell, a Chief Systems Engineer in the firm's New York Office, pled guilty to multiple charges in the fraud, and has admitted to receiving millions in kickbacks. Another SAIC employee, Gerard Denault, was charged and is out on bail. Ironically, CityTime, a project that endeavors to properly report time worked, has itself ballooned to 950% of its original budget due, in part, to fraudulently reported time. "IT contracts that involve hundreds of millions of dollars and multiple layers of consultants are a new frontier for fraud, and DOI has been at the forefront of exposing it," said Rose Gill Hearn, Commissioner, New Your City Department of Investigation. (updated 1-July-2011, Research Note includes allegation details, indictment and complaint - 2,975 words) . . . More
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Mercer and Callan Complete Purchase of Evaluation Associates from Milliman
Monadnock Research - 30 June 2011
MR Mercer Investment Consulting has completed its acquisition of portions of Evaluation Associates, LLC, from Milliman, Inc., effective 30 June. In a related transaction, Callan Associates has acquired Evaluation Associates' public sector investment consulting business. Mercer says Evaluation Associates' work for financial intermediaries further strengthens its wealth management strategy and complements the capabilities brought to Mercer by Hammond Associates, acquired earlier this year. (414 words) . . . More
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Mercer and Callan Reach Separate Agreements to Acquire Portions of Milliman's Evaluation Associates
Monadnock Research - 26 May 2011
MR - Mercer Investment Consulting has signed a definitive agreement with Milliman to acquire portions of its investment consulting subsidiary, Evaluation Associates (EA). In a related transaction, Callan Associates will acquire EA's public services investment advisory business. Upon completion, this will be Mercer's second acquisition of an investment consulting firm in 2011, after completing the transaction to acquire Hammond Associates in January. Mercer says the EA acquisition further strengthens its US investment consulting business and highlights the firm's commitment to the investment advisory segment. The firms say that this collaboration allows Mercer and Callan to pursue their independent strategic objectives, and helps ensure that Evaluation Associates' public sector clients will benefit from a seamless and coordinated transition. (675 words) . . . More
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Location-Based Rating Schemes for Consulting Services
Monadnock Research (Vol IV, No 13) - 28 Apr 2011
MR - Some firms are willing to negotiate location-based rating schemes for strategic clients. So what are the average differences in rates for work provided exclusively at the client site when compared to rates for the same work provided at the firm site? Monadnock Research recently concluded an analysis of location-based rating (LBR) from more than 30 consulting firms that proposed 56 separate LBR schedules. Our study included analysis of 242 rate structures from 153 large and very large consulting firms providing services to the U.S. public sector to find those 56 schemes. Of the 153 firms, discounts were offered by 34 firms, primarily by level of professional providing services exclusively from the client facility. The study included rating schemes for IT Consulting, Management Consulting, Financial and Business Advisory Services, Human Resources Consulting, and Marketing Consulting. Research Note includes 2 graphics and firm-level rate analysis for the 34 firms and 56 LBR schedules. (840 words) . . . More
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2011 Big Four Consulting and Advisory Services Rates
Monadnock Research (Vol. IV, No. 10) - 17 Mar 2011
MR - This Monadnock Research Note summarizes the findings of a recent client study into Big Four consulting and advisory services rates. Since we find that rate data for the Big Four is not particularly useful unless it is presented across individual rate categories, this Note provides median rates for firms across the following 12 categories: Strategy; Operations; Accounting and Financial Strategy; Legal, Forensic and Risk Advisory; Internal Audit and Compliance; Transaction Advisory; Tax Advisory; Performance Services; IT Audit; Human Resources; IT Consulting; and IT Strategy. Research Note includes 4 charts. (850 words) . . . More
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KPMG Acquires EquaTerra
Monadnock Research - 23 February 2011
MR - KPMG Holdings Limited (UK) and KPMG International finally reached an agreement to acquire EquaTerra's business and subsidiaries after 6 months of rumors on an imminent transaction. The deal creates a global sourcing and shared services advisory firm serving clients across the Americas, Europe and Asia Pacific. The firms say the transaction is consistent with KPMG's growth strategy to focus on organic and inorganic opportunities in high-demand market sectors. Equaterra, founded in 2003, is a provider of advisory and research services, and governance tools to help clients with process improvement, outsourcing, and shared services across a number of business functions. (760 words) . . . More
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Aon Forms Merger & Acquisition Services Group
Monadnock Research - 28 January 2011
MR - Aon Corporation has combined its merger and acquisition practices to form Aon M&A Solutions (Aon M&A), which will be a leading provider of M&A risk and human capital consulting services globally. Aon M&A launches with around 100 professionals worldwide. It will focus on human capital value drivers tied to the business strategy and operations underlying proposed transactions and restructurings. There are a number of favorable conditions converging that make this the right time to launch Aon M&A. There is an unprecedented glut of internally-generated capital being retained by the world's largest companies that will likely be used as a source of strategic transaction funding. Large sources of private equity are also awaiting the right opportunity to invest. This combines with a tempered optimism by global economists and a favorable business outlook by leaders for 2011. There is also significant pent-up M&A demand following a dearth of deals in recent years, with a realization that the market for attractive acquisition targets will quickly disappear. This set of circumstances combines to present an opportunity for the firm to leverage its capabilities following the recent Aon Hewitt combination. (555 words) . . . More
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North Highland Buys Insight Solutions Group
Monadnock Research - 5 Jan 2011
MR - North Highland has expanded its penetration within the Midwest U.S. region with the acquisition of Insight Solutions Group, a Minneapolis-based management consulting firm. North Highland now has twenty U.S. offices. Insight Solutions Group provides services in the areas of strategy and planning; project and program management and analysis; and other management consulting services. The firm has served medical device clients and healthcare providers, retailers, financial institutions, and higher education clients, as well as public service organizations. It began doing business under the North Highland name this month. (435 words) . . . More
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Towers Watson Concludes Aliquant Purchase
Monadnock Research - 4 Jan 2011
MR - Deloitte Towers Watson has completed its acquisition of Aliquant, a health and welfare benefits administration outsourcing firm. The transaction, according to TW, strengthens its position as a premier provider of health and welfare benefits outsourcing services. Aliquant's service offerings include core administration services, employee contact centers, FSA and COBRA administration and direct billing. (255 words) . . . More
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Moorhouse Consortium Introduces Service Offerings to Clients in Public Service and Other Sectors
Monadnock Research - 12 November 2010
MR - Moorhouse has joined forces with leading interim provider Penna, and with change and commissioning specialists Hay Group and BiP Solutions, to form Moorhouse Consortium and provide a new set of interim management solutions to public service organizations. The consortium also serves clients in other industries in the areas of organization and change, project and program management, and procurement. The partnership has more than 1,300 consultants in the U.K. and 8,000 globally. The entire complement of current Moorhouse Consortium partners includes Moorhouse, L.E.K. Hay Group, BiP, Penna, Lane4, DS+A, Buying Team, Molten, RedRay Consulting, suiko, ERM, and TPI. (395 words) . . . More
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Towers Watson to Acquire Risk Consultancy and Analytics Firm EMB
Monadnock Research - 10 November 2010
MR - Towers Watson has signed a definitive agreement to acquire EMB, a U.K.-based global property & casualty (P&C) insurance consulting and analytics firm. The transaction is expected to be completed in 60-90 days, subject to customary closing conditions that include regulatory approvals. Towers Watson says the acquisition will allow for an expanded range of risk modeling software and services for Towers Watson's clients. EMB's consulting services include strategy, performance, financial and risk analysis, new business formations, actuarial consulting, financial crime, investment consulting, marketing sciences, and professional development. (290 words) . . . More
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CBIZ Acquires Kirkland Russ Murphy & Tapp
Monadnock Research - 4 November 2010
MR - CBIZ acquired the non-attest business of Kirkland, Russ, Murphy & Tapp, P.A. (KRMT). Concurrent with that transaction, Mayer Hoffman McCann P.C. bought KRMT's attest business. KRMT is a full service accounting and financial services provider serving clients in Southwest Florida. CBIZ, Inc. and Mayer Hoffman McCann P.C. have an alternative practice structure, and are separate and independent legal entities that work together to serve clients. KRMT provides assurance, tax, business valuation, financial advisory and consulting services to private and publicly-traded businesses, not-for-profits, and public service organizations. (385 words) . . . More
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Segal Acquires Aon Multiemployer Defined Benefit Plan and Consulting Business
Monadnock Research - 13 October 2010
MR - The Segal Company has acquired Aon Consulting's multiemployer defined benefit plan and its related consulting business in the U.S. The acquisition covers about 60 defined benefit plans in a variety of industries located across the U.S. and Samuel Stanley joins Segal as a Senior Vice President in the transaction. The new Segal operation will be based in Southfield, Michigan. (325 words) . . . More
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Aon and Hewitt Complete Merger: Aon Hewitt Launched
Monadnock Research - 1 October 2010
MR - AON Corp. and Hewitt Associates have completed their merger. The cash and stock transaction was valued at approximately $4.9 billion at the time it was announced in July. Aon is integrating the former Hewitt within its Aon Consulting operation and will operate the combined firm globally as Aon Hewitt, the world's premier human capital solutions firm. The combined firm had fiscal 2009 revenues of $4.3 billion and 29,000 staff serving clients globally. Forty-nine percent of revenues are from consulting services; 40 percent from benefits administration; and 11 percent from HR business process outsourcing. Russ Fradin, Hewitt Chairman and CEO, continues to serve in that capacity at Aon Hewitt, reporting to Greg Case, CEO, Aon Corp. (891 words) . . . More
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Hewitt to Acquire EnnisKnupp; Sets Meeting Date for Vote on Aon Merger - Update 1
Monadnock Research - 14 August 2010
MR - Hewitt Associates has entered into an agreement to acquire EnnisKnupp, a leading provider of investment advisory services to large institutional investors. The deal will more than double Hewitt's existing investment consulting clients and supports its global expansion plans. EnnisKnupp provides a range of investment consulting services to corporations, public funds, endowments, foundations, non-for-profits, and Taft-Hartley plans. Hewitt stockholders of record at the close of business on 16 August 2010 are entitled to vote on Hewitt's proposed acquisition by Aon at a special meeting now scheduled for 20 September 2010 at Hewitt's corporate offices in Lincolnshire, Illinois. (800 words) . . . More
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ACS Completes $125 Million Acquisition of ExcellerateHRO
Monadnock Research - 2 August 2010
MR - Affiliated Computer Services (ACS), a Xerox company, has completed its acquisition of ExcellerateHRO (EHRO). EHRO provides services in the areas of benefits administration, relocation and assignment services, and specialty call center operations for HR services. Its clients span most major industries with concentrations in communications, media and entertainment, consumer products, retail, energy, financial services, public services, healthcare, manufacturing, and transportation. Its leadership team will be integrated within ACS' HR services group. (335 words) . . . More
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Willis Stands Firm; Refuses Contingency Commissions from Insurance Carriers for Brokerage and Advisory Work
Monadnock Research (VIII N27) - 29 July 2010
Monadnock Research Note - Willis Group Holdings, the global insurance broker and advisory services firm, has sharply criticized Aon and other HR services firms for their decisions to resume acceptance of contingent commissions. This Research Note explores the issues associated with contingent commissions, including the potential conflicts of interest they may pose to providers of services in the areas of insurance risk management, financial, and human resource consulting, and actuarial services. (1,220 words) . . . More
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Workplace Ethics and Trust a Casualty of the Great Recession
Deloitte & Harris - 26 July 2010
Deloitte & Harris Interactive - Just over one-third (34 percent) of employed Americans plan to seek new employment when the economy improves. Of those that plan to depart, 48 percent cite loss of trust in their employer and Forty-six percent say lack of transparent communication from organizational leadership are the primary motivators for pursuing new employment at the end of the recession, according to Deloitte's fourth annual Ethics & Workplace Survey. A large majority (65 percent) of Fortune 1000 executives concerned about the possibility that staff members will soon be looking elsewhere for work, believe trust will be a factor in any voluntary attrition. (570 words) . . . More
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PwC Makes Internal Training Courses Available to Clients for Free
Monadnock Research - 21 July 2010
MR - The U.S. member firm of PricewaterhouseCoopers (PwC) is making much of its internal training material openly available and free online to clients and students through "PwC Open University," not to be confused with The Open University in the U.K. According to PwC, this is a first-of-its-kind initiative that it is making available to corporations, higher education, and public service organizations to provide executives, faculty, students, and regulators around the world an expansive and growing library of award-winning training courseware developed by the firm. PwC Open University launches with 150 functional and industry-specific courses. (424 words) . . . More
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Maconomy Acquired by Deltek
Monadnock Research - 20 July 2010
MR - Professional services industry ERP software and services firm Deltek has completed its acquisition of Danish competitor Maconomy A/S. Maconomy serves approximately 600 clients in more than 50 countries worldwide. The combined firm has domain expertise in the professional services software space with close to 13,000 clients globally in management and IT consulting; architecture, engineering and construction consulting; advertising and public relations; accounting; and legal services. (565 words) . . . More
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Aon to Acquire Hewitt for $4.9 Billion
Monadnock Research - 12 July 2010
MR - Aon Corp. has agreed to acquire Hewitt Associates in a cash and stock transaction valued at approximately $4.9 billion. The boards of directors of both companies have approved the definitive agreement, which calls for Hewitt to be merged into Aon Consulting. Aon plans to operate the group globally as Aon Hewitt. Russ Fradin, Hewitt Chairman and CEO, will continue to serve in that capacity at Aon Hewitt, reporting to Greg Case, CEO, Aon Corporation. (1200 words) . . . More
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