Environmental factors originally jump started the work-from-home revolution, but current research suggests the distributed workforce model is here to stay. Some estimates claim that at least 70% of employees don’t believe going into the office is necessary. Flexibility, less travel time, and reduced office costs are just a few of the perks of having a distributed workforce. However, experts in project management have been emphasizing the importance of collaboration for years, which makes it...
The global services industry is in the midst of massive growth and evolution, with companies expanding their services and radically changing the way they do business. However, many organizations and the software solutions they depend on have failed to evolve to support their changing needs.
Growth is the hallmark measure of success for all organizations - especially in the professional services industry. But scaling your professional services business is difficult when you have slim margins from outdated software solutions, process bottlenecks, and underutilized talent. To pursue higher profits and your competitive advantage, first ensure that your organization has removed the barriers to scale.
Services businesses are built on the strength of their resources and their ability to effectively manage them. Long term success depends on a firm's ability to adapt to changing business and economic signals, client needs and even the resource management processes and technology they use. After all, resources are the lifeblood of professional services firms.
Resource management has evolved. But not every business has realized the true potential of their resource management strategies. And for many, resource management may be stuck far in the past, not even providing them with a basic view of supply and demand that so many industry leaders experience in their software solutions today.
Now more than ever, agencies need to be at the top of their game to be profitable and scale their success. The shifting realities of the professional services industry don’t make that an easy task. When given the best tools, working your way past the following five challenges is more than possible.
The increasingly complex, fast-paced world of professional services needs more than talented workforces and insightful managers, it needs a technology solution that can identify and support everyday business at the speed of demand.
The liquid workforce is gaining momentum within professional services organizations, with contractors providing an elastic approach to resource management that would otherwise be impossible to achieve. Highly skilled individuals can be hired according to an organization’s need to scale up or down at will. Employing these temporary, specialized workers keeps operations agile and lean, while still allowing innovation, and meeting ever-increasing client expectations.
The success of every business, no matter the industry, depends not only on the size of their teams, but on the skills that every team member possesses. However, continued changes in company strategies and client demands mean that the skills currently in use by a business may not be the ones needed in the future. But it can be difficult, especially in a time of slim margins and unpredictable markets, to simply fill these skills gaps with new hires.
In today’s competitive economy, professional services leaders need to make the most of every resource at your disposal. This is where focusing on improving every aspect of your company’s resource management strategy becomes more important than ever.
Guest blogger Jordan Warren shares her personal story on becoming a successful resource manager.
So it all started with that one loaded question:
“Hey Jordan, we’ve realized we need a Resource Manager, do you have any interest?”
I’m paraphrasing here, but that is essentially how I became a Resource Manager (ok, I was actually a Traffic Manager, and while I know now this is a pretty common title in the industry, it always made me feel like I should be working at the airport).
The term “time tracking” can bring to mind the outdated practice of punching in and out and bosses who furiously micro-manage every second of the workday. But these negative connotations overshadow the good side of time tracking. Making it easy for managers to see exactly how and where their team members are using their time actually leads to many positive outcomes—which aren’t achievable without that visibility.
Changemaking organizations consistently field the best teams. Your potential for success is built upon the collaboration between individuals that make up your business. The right people are important and so are the right systems to support them.
The global pandemic changed everyday life for people and organizations around the world in ways we are still coming to understand. In the business environment, sweeping stay at home orders forced most companies to shift to a work-from-home model—in many cases, almost overnight. It’s no surprise that more than 42% of employees have been experiencing a decline in mental health, according to Harvard Business Review. What can you do to support your employees when you’re not in the same room? Start...
Successful businesses depend on experienced resource managers to put the right resources on the right projects, at the right time, every time. The number of projects increases, timelines decrease and the demand for specialized skills continues to rise. Access to data is more important than ever for resource managers who often have the added burden of filling the gaps left by the limitations and inefficiencies of spreadsheets and outdated technology.
A tumultuous 2020 added even more...