We detected an old browser!
This website doesn't support Internet Explorer 8 and older.
Please upgrade your Internet Explorer to the latest version in order to enjoy this website.
12 May 2020
Many businesses use spreadsheets for their resource management model, and in doing so are capturing only a few binary measurements such as “utilised” and “under-utilised”, “high-cost” and “low-cost”, or “late” and “on-time”. But, this doesn’t encompass other important factors that could improve overall efficiencies of the business.
The solution? Putting your people first. By prioritising your most valued asset, your people, you could see step-changes across your organisation. Implementing a dedicated resource management system will add human depth and global perspective to your resource model. This gives businesses the agility to identify opportunities and diagnose workforce issues quickly, ultimately becoming more resilient in the long-term.
Having a sophisticated resource management system enables businesses to correctly allocate employees with larger salaries to appropriate projects that require greater responsibility, or specific skills. Improved staff allocation results in a greater proportion of maximised billable hours, ensuring a larger return on investment from each senior employee. This should help steer their focus onto client needs and enhance the service provided. You never know when recommendations could come in, but they are far more likely to arise should your employee’s enthusiasm exude throughout their service.
A resource management tool changes the way your business thinks of its people. It acts as a useful deterrent for businesses who tend to overbook employees as a short-term substitute for better, longer-term accurate demand forecasting and capacity planning. Over-utilising employees will reduce the quality of deliverables, erode client satisfaction and leave the workforce exhausted, disengaged and demotivated. The long-term cost and disruption of potentially needing to replace these employees does not justify the short-term “solution”.
It is just as vital not to under-utilise employees, or they will begin to question whether their job remains secure. Having a resource reporting toolset capable of showing accurate, timely reports around key performance indicators on an individual employee basis such as the projected hours and average utilisation for each project broken down will help employees stay well-informed. Forecasting and consistently analysing warning signs will ensure the business and its employees feel well-braced for challenges as they will be able to make continuous vital suggestions.
A final takeaway is to consider other incentives other than pay-rises to motivate existing employees such as coaching and upskilling. Not only will this alleviate the challenges faced from a more competitive talent marketplace, it allows employees to feel empowered in good and bad times.
In summary, by investing in your employees, your business will flourish. Acquiring a resource planning tool could be key to having a resilient business driven by its employees.
For more information on how Retain’s solution can benefit your business, fill in the form below or email sales@Retaininternational.com.