Pro Serv Podcast by Collective 54 Episode 165 – Time Management: Strategies for Maximizing Employee Productivity in Boutique Professional Service Firms
Apr 5, 2024
Ben Edwards, VP of Partnerships at CMAP, shares insights on time management tailored for boutique consulting firms. He discusses the crucial role of effective time tracking systems and how integrating them with CRM and financial tools can supercharge productivity. The conversation dives into practical strategies for monitoring project progress and financial health, emphasizing the need for clear communication in resource allocation. Listeners also get valuable tips on fostering a culture of efficiency that empowers employees to thrive.
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People Are Key to Margins
- People are both the biggest cost and source of revenue in professional service firms.
- Firms that manage time well show stronger margins and better utilization rates.
Sell Time Tracking to Employees
- Position time tracking as beneficial to employees, tracking their non-billable activities and preventing burnout.
- Connect time management with financials and project management to avoid scope creep and improve margins.
Time Tracking Mitigates Boom Bust
- Time tracking alleviates the boom-bust cycle in project-based firms by showing exactly where hours are spent.
- It helps match revenue and expenses better by tracking inventory (billable hours) accurately.