Employee utilization is the number one factor in determining profitability for professional services firms and project-based businesses. However, recent staff shortages make it hard for firms to keep utilization up. Staff shortages have escalated to become the top emerging risk organizations face globally, according to Gartner, Inc.’s latest
The answer? Highly engaged workers.
What is a Highly Engaged Worker?
- Highly engaged employees take primary responsibility for their own engagement.
- Highly engaged employees feel the least entitled.
- Highly engaged employees engage customers.
- Highly engaged employees remain highly engaged almost anywhere.
- Highly engaged employees apply six behavioral drivers: connecting, shaping, learning, stretching, achieving, and contributing. The ongoing process of applying these drivers allows them to sustain high levels of engagement over time.
Within professional services companies, a lot of time is wasted when employees are not provided the tools and information needed to deliver high-quality projects. This results in:
- Wasted effort that drags down productivity and reduces billable hours.
- Inefficient, misaligned, and manual processes that can lead to errors and mistakes.
- Limited visibility and poor business insights weaken decision-making and alignment between the project pipeline and resource capacity.
How do you Support a Highly Engaged Worker?
The easiest way to encourage a highly engaged worker is to give them the tools they need, when they need them. An integrated professional services automation (PSA) solution will support the highly engaged worker. It gives them the insights they need to get the job done instead of wasting time searching for the details they need. When a project kicks off, an automated workflow starts right away. All the data and shared documents are easily accessible, adding efficiency to the process. Employees don’t have to spend unbillable time on “busy work.”
Modern, connected systems provide the capabilities needed to make operational, tactical, and strategic improvements that drive better utilization and, ultimately, greater revenues and profit.
The power of accurate, coordinated forecasting and control of the project portfolio enables professional service firms to more effectively align human capital management with the needs of the business and the demands of the market. With this knowledge, managers can optimize investments in people, recruitment, and training to maximize chargeable utilization and increase revenue and profitability.
For professional services firms and project-based business, labor is the highest expense. But people are also the greatest source of revenue, and the determining factor of success. Resource management strategy and tactics are vital to successfully improving utilization. However, resource management is extremely challenging to operationally execute without connected systems that enable people to interact effectively. This people-centricity also means that technology investments will have an immediate and direct impact on productivity, and ultimately ROI by providing time for execution on strategic and tactical improvements.
ERP Based Business Management Solutions for Service Firms
ERP and cloud-based solutions for professional services companies should be strategically designed to target the needs of larger enterprises, and small and medium-sized companies ensuring the best Microsoft Dynamics 365 solution for each company's requirements. At Velosio, we have developed
CRM Based Business Management Solutions for Service Firms
Another solution is
These three solutions are easily accessible through any device while highly engaged workers are on the go. These applications have the same familiar look and feel as other Microsoft products like Office 365 and are tightly integrate with those products. This means existing workers already using Microsoft products will adapt quickly to the new technology and training for new hires can be greatly accelerated. For more information about these three solutions, check out our
To learn more about business solutions for project-based companies, download our whitepaper,