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Consultancy fees should match the nature of the job
EDITOR – It is the norm for professional consultants to charge fees anywhere from £300 (UK average) per day up to thousands per day.
However, the role of the consultant is pivotal in ensuring that a fair and representative fee is established.
Does the fee fit the job in hand involving:
A: Ethical considerations.
B: Level of complexities involved.
C: In line with the size of company/establishment/number of people involved/localized, regional, national or international in nature.
D: For the set of variables involved.
E: Financial risk. Amount of finance at stake/workable margins on finance available/profit or non-profit organisation.
Professional consultants pride themselves on the speed with which they are able to solve problems, creating a knock-on effect of being able to keep costs down for customers.
This £800 per week thing since November? A professional consultant can go into an international company and within two to five days create strategies to fix complex, multi-factorial problems and, before they exit the job, put the plan into action.
However, regarding the job in question, considering framework A-E, the task portrayed;
A: High ethics involving tax payers’ money and the need to display sensitivity within staff reviews.
B: Holds a low level of difficulty. Fundamental/basic work.
C: Involved small scale and localised in nature.
D: Contains a set of variables that are predictable.
E: Holds a low level of financial risk.
* Estimating two days work to sort it out. Considering the UK average and the above, particularly A; *= £300 per day, *Total = £600
Switch focus off consultancy and on to the council’s appropriate concerns in needing to reduce costs.
Had the same concerns been applied to negotiating a consultancy fee, perhaps a more appropriate deal would have been secured.
NOTE: The above is based on information available in Rasen Mail 25/01/2012 and there has been no business nor personal dealings with those involved.
Joanne M Griffiths
Medical KnowHow Ltd, Market Rasen
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