Andersen Consulting used to hire some of the best and brightest graduates, then train them up in-house. Now Accenture needs to feed the institutional investors' insatiable hunger for growth, focus on higher volumes, bigger deals, more outsourcing, and more man-days billed. This means they have to recruit at volume, which means dropping standards. It also means that the best and the brightest become harder to retain (or attract in the first place). To drive efficiency in recruitment they then resort to telephone interviews, which reduces effectiveness, and the quality of new hires falls further. As quality falls, telephone interviews become more acceptable, and so the cycle continues. I think Accenture has been eating up too much of its own "high performance business" advice. The CFO and analysts love it: costs go down so that margin can be improved even when revenue isn't growing all that much. But it's no longer a great place to work.