5 signs of growth pains - how do consulting companies solve it easily?

Occupancy, growth, and the consultant manager's growing pains

For most consulting companies, there is still high demand, but the sales process can take longer. For many consulting managers, it is about optimizing and questions such as:

• How do we maximize occupancy in the smartest way from a consultant's perspective? What are the best assignments for my consultants both from the consultant's own preference and development plan as well as occupancy perspective?
  
  
• Are we creating genuine growth at this high pace?
  Or are we just running faster, without clear direction? How can we see that we are doing the right things today?
  
  
• Are we calculating the occupancy rate in the best way?
  The high pace and creative solutions we make to ensure the customer's mission means that sometimes it feels like we are comparing apples with pears?

Growth creates growing pains

Growing pains happen as the company grows. Like when you were a kid, and you grew out of your shoes and needed bigger shoes, or if the family was growing, you probably needed a bigger car.

In the same way, this happens for many (consulting) companies. Business is flourishing, you recruit consultants, and the customer is happy. Suddenly the old ways of working are slowing you down. It is a clear sign that you still need to keep up and adapt processes and ways of working to your new business level.

Five signs of growing pains for a consulting manager

1. You don't keep track of the consultants' wishes regarding competence development and the type of assignment.

Facts: Consultants who thrive and get new challenges lead to more satisfied customers; consulting companies need to invest in consultants' growth. Taking good care of your stars likely reduces the need for new recruitment.

Solution: Add a plan and dialogue for development in the consultant's profile.

In Bizzcoo, it is easy to capture requests for the development of specific competencies or types of future assignments. Already in the system, available when matching against assignments. Either as a comment in the consultant's profile or through the consultant that marks competencies they want to develop in future assignments.

2. Are you unsure regarding the length of the assignments or recent changes?

When are consultants available for new assignments? You are probably one of many at your company who have the same questions. The good idea is to review how you work together in the company.

Solution: Get better support for staffing planning

Look at system support for utilization and resource planning. Get a good overview of all the consultants, team, and the company's assignments and when consultants are available for the new assignment.

3. You want to get your consultants onboarded on interesting assignments but need help in monitoring matching potential assignments.

For assignments you think might be interesting, it is good to easily monitor potential future assignments for each consultant.

Solution: Plan potential assignments per consultant

Bizzcoo Bizz planner adds customer assignment view. You can enter potential assignments that may interest different consultants in your resource planning. Please don't wait until the assignments are signed, but post them so that each consultant has a higher chance of getting an exciting assignment that fits their plan and preferences. This results in happier consultants and reduces the risk of them leaving your company.

4. You feel uncertain about the growth of the team or the consulting company and need data for forecasting and scenarios.

The first question is, how do you calculate growth? Is it the number of billable hours, occupancy rate, or turnover? How do you work with forecasts? How do you collect data? Is it accessible and transparent to everyone in the company who needs it?

Solution: Secure historical data for comparison with system support

Regardless, you might want to compare last year, quarter, or month with the current situation and the forecast as we advance to ensure that you grow. It helps if the planning system you use saves and can compare historical data with real-time data for the current situation and forecast.

5. You feel unsure if your system's utilization rate reflects reality.

You need help to work with a KPI based on occupancy rate. Does it best reflect your team's reality? Would you happen to know how your consulting company calculates your occupancy rate? What should be included in an optimal occupancy rate calculation? Do you think this works the same way in all units?

Solution: Customizable classification of activities and status.

Not all consulting companies have the same model for calculation, so please make sure that your system can be adapted and calculated on your types of activities.

For example, whether the activity is included in the occupancy rate calculation. E.g., assignments, interviews, customer training, own skills development, parental leave, and activities with the team. Which different statuses on a future assignment should be included in the occupancy rate? Should oral agreements be counted, or should only written agreements apply?

Get support for growing pains.

Upgrade current digital platforms to better match your needs or research systems, and choose one built to support the consulting industry's needs.

To make things easier, it is essential that the system gathers both consulting and assignment planning and can handle both forecasting and follow-up in the same tool. Everything in the same system is a prerequisite for having historical and real-time data readily available to anyone who needs it.

Bizzcoo is a system developed for consulting companies and managers to support their processes.
With a system or platform like Bizzcoo, the advantage is a streamlined way of working for the consulting manager and others who need data about the core business's current status and forecasts. It not only makes consulting managers, consultants, and customers happy but also CFO and HR.
Bizzcoo Consist of two modules Bizz Profile for CV & Skills management and Bizz Planner for Assignment management and planning