IMPROVEMENTS FOR BAIN & COMPANY TO MAKE IT INTO
THE FORTUNE’S 100 BEST COMPANIES TO WORK FOR IN 2009
INTRODUCTION
According to the Great Place To Work Institute, any company can be a great place to work no
matter what size it is. The most important aspect in making a company a great workplace is the
level of trust between employees and top management, employees and their company, and
employees and their colleagues.
The Great Place To Work Institute researched Fortune Magazine’s list of “100 Best Companies
to Work For in America.” This research showed that most, if not all of these companies, share
numerous characteristics. All of them obtain more qualified job applications for open positions
than their competitors. Health care costs for these companies decrease gradually while their
profitability and productivity increase every year. The turnover level is lower than companies not
on the list, meaning fewer employees leave their jobs. The majority of companies also
encourages creativity, innovation, and risk taking, but still enjoy high levels of customer
satisfaction and loyalty because of the quality of their services.
Bain & Company did not make it on the Fortune’s 100 Best Companies To Work For in 2008.
The purpose of this report is to make Bain & Company to meet the characteristics that The Great
Place To Work Institute and Fortune Magazine is looking for to make it into next year’s list of
100 Best Companies To Work For.
Below is the information that Virtuous Consulting has collected in the process of analyzing your
company. The report is based on online research, articles, as well as phone and e-mail interviews
with Bain & Company’s employees. Along with the analysis, Virtuous Consulting has included
recommendations. Through the implementation of these ideas, Bain & Company will be able to
make Fortune’s 100 Best Companies To Work For in 2009.
WHAT AREAS OF EXPERTISE ARE COVERED
All companies from different fields need strategic management consulting firms to help plan for
the future and perform at the highest level. Therefore, consulting firms such as Bain & Company
and Boston Consulting Group have to offer as many areas of expertise as possible, to cater to
their wide range of clients. By doing this, not only can they get more clients and increase their
company’s profit, but they can also obtain employees from different backgrounds and experience
that can create diversity in a workplace. The table on the next page shows the areas of expertise
of Bain & Company and BCG.
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Figure 1: Areas of Expertise
Bain & Company
Automotive
Consumer Products
Energy and Utilities
Financial Services
Healthcare
Industrial Machinery
Media
Mining
Non-profit and Public Sector
Retail
Services
Technology
Telecommunications
Transportation Services
BCG
Automotive
Consumer
Energy
Financial Services
Global Health
Healthcare
Hunger and International Development
Industrial Goods
Media and Entertainment
Oil
Power and Gas
Public Education
Retail
Social Impact and Non-profit
Sustainable Development
Technology and Communications
Travel and Tourism
Source: Bain & Company Official Website, Boston Consulting Group Official Website
Recommendations
Virtuous Consulting recommends Bain broaden its areas of expertise. By doing so, Bain will
give employees more opportunities to explore various industries to work in. Moreover, Bain can
attract more clients from a wide range of industries.
IMPROVING THE HIRING PROCESS
The hiring process within an organization is very important because it is seen as a long-term
investment that enables a company to hire their desired employees. Moreover, the hiring process
will determine the quality of the recruits and help avoid a high turn-over rate.
Boston Consulting Group
Hiring Process
BCG tends to target Ivy Leagues and top-tier universities. The biggest numbers of recruits are
from Penn and Harvard. BCG’s hiring process is very selective. Each office invests considerable
time in getting to know candidates in advance of interviews. Because of the high competition
with BCG, SAT scores and GPA are very important. Typically, undergrad and MBAs recruits go
through first-round interviews on campus, followed by several rounds at the office. Interviews
consist of two to three standard 45-minute sessions, about 30 minutes of case study and 15
minutes of personal interviews each (Vault).
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Bain & Company
Hiring Process
Bain usually recruits from Ivy Leagues and top-tier universities such as Princeton, Harvard,
Yale, MIT, Stanford, Penn, Dartmouth and Duke. As the consulting business grew, competition
for the brightest MBAs intensified, and Bain became an aggressive recruiter. Harvard once
kicked Bain off campus, temporarily, because the firm offered graduates ‘exploding bonuses’,
payments that declined each day the students dithered about a decision to join Bain
(BankersBall).
Virtual Interview
According to the article “A Job Interview You Don’t Have to Show Up For” by Anjali
Athavaley, Bain conducts virtual interview called Second Life. The virtual interview has more
negative impact than positive impact to both Bain and recruits. The only positive impact from
Second Life is that it is cheaper than actually holding a job fair, where companies have to pay
fair fees and travel cost for recruiters. The downside of Second Life, due to the nature of the
interview, is that the recruiters are not able to see the recruit’s body language, eye contact, and
instant reaction to a question. Second Life has a restriction in terms of attendance; only 50
people can be present at one time. Moreover, invitations were restricted to students who had
received internship offers in New York and Chicago offices. Recruits tend to get confused about
the virtual interview schedule because of different time zones, and will sometimes miss their
assigned time slots. Second Life also does not show professionalism because when conducting
interviews through instant messaging, both recruiter and recruit are blind to the appearance of the
other (Athavaley).
Recommendations
Virtuous Consulting recommends that Bain should increase the quality of recruits. First, Bain
should expand its recruiting areas instead of focusing on top-tier universities and Ivy Leagues.
Second, increase the stages in hiring process like what BCG is currently doing. Third, Bain
should stop the virtual interview so that it can get to know the recruits better by establishing
relationship during face-to-face interviews.
It is important to implement an effective hiring process because you and your colleagues will be
spending many hours with those you hire.
ADJUSTING THE WORKING HOURS
Each company has a certain number of hours that employees are expected to work every week.
Flexibility in working schedule differs between the two companies.
Boston Consulting Group
BCG employees are limited to an average of 60 hours per week. If an employee is constantly
working more than 60 hours, he or she will be asked to lower their average hours worked. This
shows that BCG cares about their employees’ health and work and life balance. Moreover, BCG
employees enjoy good flexibility; if an employee finishes working on a project early, he or she
will be free for the rest of the week because of the one assignment at a time rule. Its employees
also have the ability to choose one’s working hours and to move to a non consultant position
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temporarily as a change. A unique benefit for BCG employees is the free vacation, “On The
Beach”, between assignments to catch up on personal life.
Bain & Company
Bain & Company employees are also limited to an average of 60 hours per week. However, they
are not asked to cut back on their hours even if they keep exceeding the limit. One advantage
Bain & Company employees have is that their working hours decrease as they advance in their
careers. Unfortunately, some of the employees that were interviewed pointed out that they wish
Bain & Company would offer more flexibility in terms of the working hours. An employee of
Bain & Company, Mr. Raj Midha said that he just had a newborn and would’ve liked it if he had
more flexible hours and could work from home so he can spend more time with his family
(Midha).
Recommendations
Work and life balance seems to be an issue for some of Bain & Company employees. The
company should offer more flexible hours by allowing employees to work different shifts or
from home. On the other hand, the employees should learn how to balance their personal life and
work. Workandlifebalance.com offers a training program where employees learn about People
Management, Time Management, Project Management, Change Management, Focusing Skills,
and Seeing & Setting Big Picture Goals. The company can designate a person to take the
program and get licensed so he or she can train people later. The whole program material costs
about $500 the first time and a $225 annual licensing fee. This program is proven to increase
productivity substantially by teaching employees how to obtain a higher level of accomplishment
and satisfaction on a daily basis on and off the job.
ENHANCING CAREER DEVELOPMENT
Both Boston Consulting Group and Bain & Company offer great opportunities for employees to
develop in career both personally and intellectually.
Expanding Globally
Boston Consulting Group
Boston Consulting Group has more than 60 offices in more than 35 countries around the world.
It has the ambassador program that is designed to allow top performing second-year consultants
to complete a one-year exchange with another office. Also, numerous opportunities are available
to work on individual projects in other offices around the world (Boston Consulting Group)
Bain & Company
Bain & Company provides transfer opportunities to their strongest performers. Transfers may be
short-term (six months), permanent, or case-driven transfers (need-based transfers requested by
an office to serve a client). Bain & Company also keeps track of transfers to monitor their
professional development during their transfer. Transfers continuously keep contact with
mentors in their home office, and mentors report their development to the office.
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Recommendations
In order to give employees more experiences and opportunities, Bain & Company should
increase the number of offices in other countries. Having more offices in other countries will also
bring more opportunities to work on international cases. From an interview, Ms. Amanda Adler,
a Bain & Company employee, said she wished she could have more international cases that
would require her to travel internationally for a few weeks a year (Adler). Increasing the number
of offices in other countries will bring more satisfaction to the consultants in terms of having
more diverse experiences.
Also, these experiences will help broaden the scope of your consultants, and will allow them to
apply and share their knowledge with their colleagues and strengthen the firm as a whole.
Advising for Development
Boston Consulting Group
Employees meet regularly with their career development advisor. The advisors are responsible
for aiding employee’s career development, checking and summarizing the evaluations, and
discussing employee’s professional progress with the Career Development Committee. After
advising, they provide a training program that fits to each employee (Boston Consulting Group).
Bain & Company
Bain & Company provides a formal mentoring program to their employees, in which each
employee can select an experienced person within firm to help guide them and provide valuable
advice. The dedicated coaches and mentors help employees determine the best career path within
the firm (Bain & Company).
Altering the Training Program
Boston Consulting Group
Entry-level training is available at Boston Consulting Group. They also use targeted training
sessions for employees as they move along in their BCG career. BCG makes an effort to share its
collective knowledge through their Knowledge Management system, which provides information
about BCG people, topics, experience, and know-how. Training hours in 2007 were estimated at
80 hours per year, while in 2008 estimates were about 40 hours (Boston Consulting Group).
Bain & Company
Global training programs are available to their employees. When employees start working with a
new client, in a new industry, on a new problem, they can get the support of the intranet-based
Global Experience Center. Moreover, Bain & Company has regular informal training in the form
of coaching and mentoring, which is performed by other employees within the firm. Lastly,
Bain’s senior management employees are also always available to help new consultants. Bain &
Company’s average training hours in 2007 were 85 hours (Bain & Company).
Recommendations
Long training hours put restrictions on the amount of time employees have available to work on
regular cases. Employees will also get frustrated with long training hours. Other competitive
consulting firms have shorter training hours than Bain & Company. Therefore, Virtuous
Consulting suggests, instead of long training hours, Bain & Company should have more
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condensed short-term training programs. By having more condensed programs, Bain will allow
employees to gain more knowledge on the job and lower training costs.
The saved costs can then be reapplied to your employees through various benefits, in order to
continue to increase the overall satisfaction.
UPGRADING THE BENEFITS
Employee benefits are exceptionally vital because it demonstrates employee satisfaction in a
company. Boston Consulting Group and Bain & Company offer a wide range of privileges for its
employees. The benefits are as follows:
Boston Consulting Group
Working in a prestigious company, such as BCG, enables employees to take advantage of the
benefits offered by the company. BCG employees are required to work a minimum of 20 hours a
week in order to receive any benefits. However, consultants can choose the work hours that best
suit their needs or move into non-consultant roles if they need a break. BCG provides a variety of
advantages to its employees. These benefits include:




100% health and dental coverage for employees and their family
A twelve paid-week for new mothers and a whole paid-week for new fathers, after birth
or adoption
Up to one year of unpaid leave for employees planning to further their studies
The firm’s resources and referral service to find full-time child care and unlimited free
backup care
Sources: www.workingmother.com
In addition to that, employees can draw on an unlimited number of paid sick or personal days,
and may use them to care for ailing family members. Consultants of BCG have the privilege of
one or more weeks “on the beach” between case engagements, which are essentially free
vacation days to catch up on personal life (Vault Online Career Library). Being an employee at
BCG allows the opportunity for junior employees to acquire first-hand knowledge and exposure
from senior team members. A very strong principle that the company holds true is limiting their
employees’ work time to an average of 60 hours a week. This enables their employees to rest and
unwind from work life, and allows them to get a good start for a new case and perform better.
Bain & Company
All employees at Bain & Company enjoy the company’s privileges based on full-time
employment only. These benefits include:
 Sharing the cost of medical and dental insurance with the employee
 Short and long-term disability insurance at no cost to the individual
 Discounts on personal insurance, such as auto and homeowner
 401(k) Savings Plan, which assists employees with their retirement planning
Sources: Bain & Company Official Website
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Based on an interview with Kate Kleyn, a current employee of Bain & Company, Bain offers a
great environment in the workplace for their employees (Kleyn). For example, the company
organizes get-togethers for their employees every few months. These company events comprise
of activities such as volunteering or an all-office event. However, she also mentioned that the
company should offer free gym memberships. Furthermore, other perks of working in Bain &
Company include expensing a cab home or dinner if the employee works eleven hours a day; a
travel department that books any travel, hotels, or car rentals, which are helpful to employees
who are on travel cases; and a Bain World Cup each summer where people from Bain offices all
over the world meet in one city to compete in a soccer tournament (Adler).
Recommendations
The employee benefits offered and BCG and Bain & Company are fairly similar and each has its
own pros and cons. However, several suggestions for Bain & Company to make it into the
Fortune 100 Best Companies to Work for list is adding more employee privileges than that of
BCG. Suggested staff benefits are as follows:
1. Paid leave for new moms and dads
2. Setting up a company gym or gym membership
MODIFYING THE SALARY
Consultants are usually on the higher end of the salary spectrum and both Boston Consulting
Group and Bain and Company pay their employees well.
Boston Consulting Group
Boston Consulting Group has an average salary of about $137,000 per year for their consultants
and $61,000 for executive assistants (Fortune).
Bain & Company
Bain & Company uses compensation packages that consist of a base salary, performance
bonuses, and an equity compensation award. Bain & Company management consultants average
about $120,000 a year while other consultants in the firm average about $60,000 per year
(Payscale)
Recommendations
Compensation is usually the most important factor that potential employees look at when trying
to decide where to work. Employees also correlate pay with performance and how much the
company values their work. Therefore, Virtuous Consulting recommends that Bain and
Company increase their average employee salaries to their competitor’s levels. They can achieve
this by increasing the base salaries or increasing the number and total amount of bonuses given
to their employees. We believe that increasing bonuses would be the most beneficial because this
could help drive productivity and overall employee satisfaction.
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TRAVELING
Professional consulting requires more traveling than the average occupation. With clients all
around the world, consultants face mandatory traveling in order to perform at the highest level.
Both Bain & Company and Boston Consulting Group understand the potential frustration that
comes with lots of traveling and strive to maintain a balance between work and personal life.
Both firms implement strategies to help lighten the pressure on their employees.
Boston Consulting Group
Boston Consulting Group tries to schedule traveling on a personal preference basis. Most people
do not wish to be on the road all the time, therefore BCG implements local staffing policy to
limit travel. BCG also assigns their consultants to only one case at a time to help moderate the
workload, which requires less traveling. When travel is necessary, BCG accommodates their
employees with benefits such as flying business class, private aircrafts, staying in upgraded and
comfortable hotels, limo services, etc (Vault). BCG also offers great opportunities to employees
who want to travel more. BCG has offices in over 60 cities around the world, which gives
employees the chance to work from almost anywhere on earth.
Bain & Company
Bain and Company is also committed to as little required travel as possible for its employees.
Employees have stated that travel usually depends on an individual case basis. Bain & Company
does provide its employees with opportunities to travel with having 38 offices in 25 countries
around the world.
Recommendations
Virtuous Consulting believes providing employees with better travel benefits, such as
transportation and food, and becoming more sensitive to traveling preferences of their employees
would increase Bain and Company’s rankings for being a good place to work. The company can
also implement an internal reward points system, using the amount of miles traveled or overall
hours spent on the road, which employees could use toward extra leave days or upgrades on
amenities while on business trips.
Applying this system can both increase employee satisfaction and play a crucial role in attracting
new employees from a wide range of backgrounds.
DIVERSIFYING THE WORKPLACE
Diversity is not just a matter of color, gender, race, religion, or age. It is also based on
informational differences that reflect on a person’s education, experience, values, and goals.
According to research done by Stanford Business School’s Margaret Neale, the John G. McCoyBanc One Corp. Professor of Organizations and Dispute Resolution, diversity can create better
performance when it comes to out-of-the-ordinary creative tasks (Vault). Consulting companies
needs people of various backgrounds, as its cases are often unique and complex. Therefore, it has
to come up with different creative solutions every time for different clients. Consulting
companies needs to support their employees no matter what color, race, religion, or sexual
orientation its employees are.
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Women
Boston Consulting Group
In 2005, more than 40% of BCG’s female employees were mentors for the lower-level women
staff. BCG has a Women Initiative program, where they recruit the best talent for the firm. They
also have quarterly women-only events at their local offices, and BCG participates in regional
women initiative conferences (Boston Consulting Group ).
Bain & Company
Bain’s current CEO, Ms. Orit Gadiesh, is a German woman. This shows that Bain not only
supports women, but also employees from a different country and culture. Bain has a support
network for their women employees, both locally and globally. Local offices often organized
programs for women (Bain & Company).
African-American
Boston Consulting Group
Support groups for their African-American employees are called the North American Black
Diversity Initiative. The BCG’s North American Black Diversity Initiative operates both on
campus as well as within BCG. They also have activities such as, annual retreats for their
African-American employees, and they contribute to the black community through pro bono
works (Boston Consulting Group ).
Bain & Company
Bain’s support program is called Black at Bain (BABS). BABS holds an annual conference for
the African-American employees. They have interoffice events, and they participate at major
business schools conferences. BCG also supports their Hispanic employees, as they also have a
Hispanic Initiative. They arrange annual diversity retreats and organize office development
communities to mentor and develop BCG’s US Hispanic staff. The Hispanic and Black Initiative
in BCG partner to commit themselves to the Hispanic and Black communities (Bain &
Company).
Sexual Orientation
Boston Consulting Group (BCG)
BCG’s Lesbian, Gay, Bisexual and Transgender (LGBT) have a network that supports all their
employees globally. They too organize annual global retreats, and have conferences for the
LGBT members. LGBT holds outreach dinners annually for LGBT candidates at top business
schools, and also sponsor the annual Reaching-Out MBA and Out for Undergraduate Business
conference (Boston Consulting Group ).
Bain & Company
Bain’s support group is called Bisexual, Gay, and Lesbian Association for Diversity (BGLAD).
BGLAD holds an annual summit for their employees to discuss gay and lesbian issues. Bain’s
BGLAD also sponsors the Reaching-Out MBA and Out for Undergraduate Business conference
(Bain & Company).
Recommendations
Bain should focus on supporting diversity of individuals, not just groups like women, gays and
lesbian, and African-American. BCG is more individualistic, they have extra support groups and
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networks for transgender employees, as well for Hispanics. Bain should also start catering to
individuals in their company.
Hispanics
Boston Consulting Group
BCG supports their Hispanic employees as it has a Hispanic Initiative in their organization. The
Hispanic Initiative organize annual diversity retreats, organize office development communities
to mentor and develop BCG’s US Hispanic staff. The Hispanic and Black Initiative in BCG
partner to commit themselves to the Hispanic and Black communities (Boston Consulting
Group).
Recommendations
Bain should focus on supporting diversity of individuals, not just groups like women, gays and
lesbian, and African-American. BCG is more individualistic; they have extra support groups and
network for its bisexual, transgender as well for their Hispanic employees.
WINNING AWARDS
Awards are a depth of a company’s accomplishment. Through achieving business honorary
awards, a company is more renowned and credible. The table below presents the awards that
Boston Consulting Group and Bain & Company have received in the year 2007 and 2008.
Figure 2: Awards
Boston Consulting Group
Year Position Award
2008 11
Fortune’s Top Companies
To Work For
2007
2
1
1
8
Year
2007
Consulting Magazine’s Top
Consulting Firms to Work
For
Working Mothers’ Best
Place To Work For
Best Place To Work In The
Human Rights Campaign
Corporate Equality Index
Fortune’s Top Companies
To Work For
10
Bain & Company
Position Award
1
Consulting Magazine’s Top
Consulting Firms To Work
For
45
Fortune’s Top Companies To
Work For
MAINTAINING THE WEBSITE
A website is one of the main sources for guests and future employees to retrieve information.
The design and layout are important because it determines the ease of access.
Bain & Company
The layout is simple and user friendly; guests and future employees can easily retrieve
information about the company. From Figure 3 and 4 on the next page, the left tab makes it
easier for users to click on topic they want.
Figure 3: Bain & Company Website Layout 1
Source: Bain & Company Official Website
Figure 4: Bain & Company Website Layout 2
Source: Bain & Company Official Website
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Boston Consulting Group
The website is not user friendly; guests and future employees might have problems finding
information on the website.
Figure 5: Boston Consulting Group Website Layout
Source: Boston Consulting Group Official Website
Recommendations
Bain should keep up the good work on maintaining the websites as it could be crucial to boost
Bain’s image and profile. The website is also a means to attract future recruits for Bain.
CONCLUSIONS AND RECOMMENDATIONS
As illustrated in the analysis, all the recommended ideas are crucial for Bain & Company to
make it into Fortune’s list in 2009. Virtuous Consulting has prepared an outline of stages that
Bain & Company can implement in order to improve employee satisfaction.
Stage 1
1. Establishing more support networks by focusing on sustaining diversity of individuals.
2. Offering more flexible hours which includes the employee being able to work from home
3. Offering the training program on balancing personal life and work through implementing the
Work and Life Balance Program; a program that provides coaching for skills such as:
a. People, project, time, and change Management
b. Seeing & Setting Big Picture Goals
c. Focusing Skills
4. Maintaining a more condensed short-term training program instead of long training hours
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Stage 2
1. Improve the quality of the recruits through:
a. Expanding the recruiting area; instead of focusing on Ivy League and top-tier
university graduates
b. Increasing the stages in the hiring process
c. Stopping the virtual interview as it brings more negative impact on Bain &
Company and its recruits
2. Instigate additional employee benefits such as:
a. Paid-leave for new mothers and fathers
b. Setting up a company gym or gym membership
3. Providing employees with better traveling benefits including:
a. Opportunities for better amenities
b. Implementing internal points reward system which calculates the miles traveled
and hours spent on the road by the employee
4. Increasing the average employees’ salaries to the competitors level through increasing the
base salary and the amount of bonuses given to employees
Stage 3
1. Increasing the number of offices in other countries to give international-case work
opportunities; thus bringing more satisfaction to the consultants in terms of having more
diverse experiences
2. Broadening Bain & Company’s client scope – catering to more industries including:
a. Hunger and International Development
b. Sustainable Development
c. Travel and Tourism
Through the implementation of these outlined stages, Bain & Company will be able to improve
its employee satisfaction. Consequently, Bain & Company will get ahead of its competitors, thus
placing the firm in Fortune’s 100 Best Companies to Work For list in 2009.
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Appendix A
Interview Questions with Bain & Company Employees
1. Why did you choose Bain & Company?
2. How long have you been working for Bain & Company?
3. If you could change something in your work environment, what would it be?
4. What does Bain not offer that you wish they did?
5. What perks does Bain offer that you think, as an employee, are beneficial?
6. Bain & Company made the 2007 Fortune’s list of 100 Best Companies To Work For,
however Bain did not make it in 2008. What is your opinion on this? If any, what
changes occurred within a year?
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