Your agency’s profitability hinges on one important metric
Just how efficient and profitable is your agency workforce? A new report might just have the way for you to master this.
Mastering billable utilization for future-proof agency success / Teamwork.com
Modern agency leaders are like fortune tellers. They can look into the future to make accurate predictions about team bandwidth, staffing decisions, profit margins, and everything in between.
But these agency Mystic Meg’s aren’t peering into crystal balls – they’re using billable utilization rates to track how efficient and profitable their teams are in real time.
Whether you’re a seasoned pro or new to the industry, Teamwork.com has unearthed three key steps to help measure and improve your billable utilization. Follow them to see what’s written in the stars for your agency.
Download the full report to learn:
- Billable utilization = your one-way ticket to profitability
Billable utilization is the essential measure of how efficient an agency’s workforce is being utilized, and in turn, how profitable all of your amazing client work is. Learn how to calculate and measure it correctly to see your profitability skyrocket.
- 60% billable utilization is the magic number to reach for
Industry benchmarks are a great way of assessing how you stack up and where you may need to make adjustments. The gold standard to shoot for is 60% billable utilization, as in most cases this means staff are fully optimized and you’re always staying in profit. Get tips on how to set (and hit) internal targets so you’re always one step ahead of the competition.
- Make time-tracking fun (yes, it’s possible)
You can have the best methodology and process in place for measuring billable utilization, but if your staff aren’t submitting their timesheets accurately (and on time!) then you’ll be left with data that is pretty useless. Discover how to get a better handle on your time-tracking by keeping teams engaged in the reporting process.
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