Could reducing billable hours be a game-changer?

Professional services firms usually bill the hours they work, but this can sometimes be a problem. It’s especially true with younger business people. They need to work a lot to please their bosses and their clients, but they also have to spend some time building their networks and working on business development.

There are only so many hours in the day, and they should be allowed to spend them on what matters for their development, not just for helping the firm. This is an investment in the future, even if no results are evident here and now.

The surprising research results

Millennial professionals are usually shocked at the number of hours they need to spend on things they weren’t aware they would be spending so much time on, according to the latest research.

The bottom line

Take a good look at the surprises young professionals are faced with and strive to change them to enable your new team members to focus more on business development and building up their networks.

They need to do it early on in their careers, as that will enable them to specialize and gain new business now and in the future. All of that will be extremely beneficial for both them and your firm.

If you’re willing to learn more, contact the Thought Leadership Initiative, and we will help you reduce those billable hours to the benefit of your firm.

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