The Future of Management Consultancy: Irene Molodstov, CEO SIA Partners UK & IE

So in this episode, we discuss the evolving world of management consultancy and how their advice to companies is shifting. The discussion begins with Irene’s escape from Russia, her upbringing in Australia and first employment at Pilkington Glass. We then move onto her consultancy work, initially at KPMG; an experience which led to her founding her own firm, Molten (subsequently sold to SIA partners).

Today, SIA Partners consults with 100 of the Global Fortune 500, specialising in the areas of AI and data-led consulting, known as ‘Consulting 4.0’. Irene talks about changing business practices, the essential need for data to inform and improve decision making, from developing models to advise hotels on Airbnb pricing, to helping the French Alpine meteorological service improve predictions of avalanche dangers. She talks about communication in a Zoom-altered world, the office of the future and debates on whether younger employees can attain “equity” in their working relationships if done remotely.

Sia Partners now boasts 1,600 consultants in 16 countries, and is expected to generate a revenue of $300 million USD this fiscal year. Sia operates in over 30 sectors, and advises on the likes of strategy, data science, business transformation and IT operations. As part of its ‘Consulting 4.0’ remit, it applies proprietary innovative software applications and AI in its client solutions. Later in the episode, Irene reflects on the resilience she acquired along the way, the qualities she looks for in hires and how firms can retain female employees more effectively. Finally, she shares some lessons and advice from running her own business.