MCA finds chartered status helps advance industry standards

21 February 2024 3 min. read

The benefits of the Chartered Management Consultant award have been flagged up by new research from the Management Consultancies Association. The study found that nearly four-in-five consultants feel chartered status has reassured clients of the expertise they offer.

Since 2017, the Management Consultancies Association (MCA) and Chartered Management Institution (CMI) have steadily been working to roll out the Chartered Management Consultant Award (ChMC). As firms recognise it as a differentiating mark of quality that can help assure current and future clients of their offering, more than 1,000 consultants have so far completed accreditation – and now, research from the MCA has shown why.

According to the MCA’s annual report, with polling conducted by independent research firm Savanta Comres, 79% of respondents emphasised its role in elevating professional standards within the industry. Additionally, 77% highlighted its significance in assuring clients of the quality of expertise.

Nearly 1,250 consultants responded to the survey, now in its sixth year. Those answering also foresaw "Becoming Chartered" as a designation that will become increasingly important in the management consultancy field over the next five years – with younger consultants particularly valuing training, learning and development opportunities in their consulting role.

This impact looks set to further buoy uptake in the coming months. Currently, 40 MCA Member firms, made up of large, medium, and SME organisations, are actively involved in the ChMC, training their consultants and/or seeking in-house programme accreditation with many more joining. February looks set to be a record month for Chartered assessments according to predictions released by the CMI

Tamzen Isacsson, chief executive of the MCA, said, "The survey results underscore the increasing recognition of the Chartered Management Consultant Accreditation (ChMC) as a cornerstone in our industry's commitment to excellence. As we witness the evolving landscape of management consulting, firms are using ChMC to not only help attract and retain top talent, but also to elevate professional standards, emphasise their strong commitment to ethics and reassure clients of the quality of expertise."

Representing diverse participants from firms of all sizes and specialisms, and spanning all organisational levels, the survey also identified training and development as a critical factor in ensuring talent remains in the consulting sector. Those surveyed also commented that they anticipated an increased demand for the accreditation, envisioning ChMC becoming a requirement and benchmark for organisations, similar to the evolution seen in the accounting profession. Other contributors to the survey emphasised the growing importance on accountability, foreseeing ChMC as integral to demonstrating value for money and commitment to shared client values, including diversity, equity, inclusion, and sustainability.

Ann Francke, chief executive of the CMI, added, "CMI is proud to deliver the ChMC award in collaboration with the MCA. Together we are cultivating a community of consultants dedicated to upholding the highest professional standards. By delivering a rigorous accreditation process, we ensure individuals possess the expertise and ethical values needed to thrive. This not only empowers consultants but also instils trust and confidence within the profession as a whole."