When it comes to world-class client service and business practices, global consultants McKinsey & Co. is cited as a top tier firm. LCR Capital is proud to count five senior leaders as alumni of the firm, bringing with them years of best practice.
Suresh Rajan, Sherman Baldwin, Bill Derwin, Brendan Rogers and David Chait all spent time at the company. The McKinsey hallmark is evident in LCR’s approach to clients, internal culture and disciplined business planning and performance tracking.
One focus is an emphasis on education. McKinsey hires from the best universities and business schools because it recognizes meeting the test of acceptance to these schools is a good indicator of future performance. McKinsey has a particular focus on Harvard Business School where four members of LCR’s senior operating committee met because the case method teaches students to see the big picture in approaching problems.
If your customer is successful, you will be successful
The old adage that the ‘customer is always right’ defers to a more nuanced methodology in the McKinsey way. The firm takes a holistic approach to the customer journey, taking care that each step is in line with expectations from start to finish.
A recent McKinsey report called “Customer First: Personalizing the Customer Care Journey” detailed the analytical foundation of the method and the steps to implement it — at LCR this boils down to putting clients’ interests ahead of the firm’s, and ensuring customer care is how people act and not just what they say.
It’s a philosophy Suresh Rajan believes wholeheartedly. “In our business we work with people we trust and we work hard to take care of them whether they are partners or clients.”
“McKinsey talks about making distinctive, lasting and substantial improvements in a client’s life. Our programs can impact a client’s whole family. We are forming multi-generational relationships when we help a family secure US residency for their children.”
Bring insight, not just facts
In the same way McKinsey works with large, complex corporations helping them navigate their industries, LCR helps individuals navigate the complex world of immigration investment.
One approach to report the latest news from Washington and the USCIS. We believe we need to tell our clients and our partners what it means for them.
Recognizing that no two client journeys are the same, LCR helps its global constituency with unique, diverse and often complex circumstances by applying McKinsey-inspired methodology.
“At LCR we consistently push teams to simplify and highlight why it matters, what it means”, said David Chait, a McKinsey Alumnus and LCR Advisory Board member.
Laser focus on objectives
A clear focus on the end goal is one such principle that stuck with Sherman Baldwin, current CEO of LCR and Engagement Manager at McKinsey from 1997-1999 and afterwards a Managing Director at Accenture.
For Baldwin, it has been essential to focus on the client or development partner’s overall objective, rather than simply the politically expedient or tactical demand of the moment. “For many investors the real goal is making sure their children can get a great education and land those first jobs without being hindered by the visa process.”
“The short term needs change but the overall objectives and strategies almost always hold over time,” says Baldwin. “Doing the right thing works.”
A way to achieve this is by starting with the answer to a problem first — something called the Pyramid Principle at McKinsey. Grouping arguments from there and taking time to logically organize supporting ideas then leads to the right path. At LCR this is used for internal business planning and communicating with clients.
It is all about culture
Companies like LCR don’t have a technical product to optimize or manufacturing supply lines to improve. The most important asset at LCR — like any professional services firm — its its people.
McKinsey has been noted for their recruiting, team management and alumni relations for years. Implementing the very best recruitment, development and retention processes is essential. After all, it is our people that help our clients get where they want to be.
LCR’s values create an unrivaled environment for exceptional people, starting with stringent recruitment processes. But it doesn’t end there.
After onboarding, team members quickly see that the firm acts as one single global team — not a collection of smaller groups pulling in different directions. The key is inclusivity, with no room for outdated hierarchies.