A common conversation I have with ambitious professionals from top-tier consultancies, practice and the Big 4 revolves around a pivotal career consideration: to remain within the dynamic, progression-defined landscape of consulting/practice or to diversify into industry, with its potential progression constraints.
Transitioning to industry doesn’t necessitate a compromise on growth, however extra due diligence is required when selecting an opportunity. Here are my insights on some key factors to consider for avoiding the ‘dead man’s shoes’ predicament:
👉 Health Check of the Organisation: Is the company growing, static, or shrinking? Opportunities are more likely to sprout in a growing organisation.
👉 The Available Role: Is it to replace someone (and why did they leave?) or is it a growth-related addition to the team?
👉 Career Progression Culture: How does the organisation nurture career growth? You can validate this by asking for examples in interviews and reviewing LinkedIn profiles of current staff.
👉 Department Perception: Is your target department seen as a revenue generator or a cost centre? The former typically provides more progression opportunities.
👉 The Department Head’s Vision: Are they innovative, supportive of staff development, and is their vision aligned with yours?
👉 Innovation Levels: Gauge the innovation within the department and the broader business. Companies that embrace change tend to provide more opportunities for growth.
👉 Sector Outlook: Is the company operating in a thriving sector? Growing sectors usually offer more opportunities for advancement.
By conducting thorough due diligence, you can transition from consulting/practice to industry while maintaining, or enhancing, your career progression.