Management consulting giant McKinsey is offering career coaching services and up to nine months of pay to employees interested in leaving the firm, as reported by British newspaper The Times. The offer extends to managers in both the UK and US offices, allowing them to dedicate time to job hunting while still receiving their salary and access to McKinsey's resources.
While McKinsey has not confirmed the specifics of the report, a spokesperson emphasized the company's commitment to supporting staff in their career development, whether within the firm or elsewhere. This initiative is part of McKinsey's efforts to enhance its performance management and development approach in a supportive manner.
This move comes as McKinsey seeks to streamline its workforce amid industry challenges. Last year, the consulting firm announced plans to reduce its headcount by approximately 3%. In a separate development, Bloomberg reported that 3,000 McKinsey employees received poor performance ratings, with a timeframe to improve or face potential exit from the company.
Furthermore, McKinsey recently informed senior employees that they have a limited window of about two and a half years to secure a promotion, intensifying the pressure on staff to advance within the organization or consider other career opportunities. These actions underscore McKinsey's focus on talent management and performance optimization in a competitive consulting landscape.
