Smarter analysis of your consulting company's growth ability
Unlocking the growth potential of your consulting company requires more than just financial insights. While financial systems offer valuable data on current turnover and forecasts, the clearest indicator of a consulting company's future growth lies in its occupancy rate. To gain control and make informed decisions, you need a deep analysis of your occupancy rate.
Enhance your occupancy rate analysis:
Looking at the occupancy rate for the entire company and individual consulting teams is a good start, but is it enough? Are you adequately identifying current and future areas of risk?
It's crucial to break down the occupancy rate by location and role to gain insights for budgeting, sales strategies, future recruitment, and enhancing overall flexibility. This analysis helps create a long-term, sustainable, and high occupancy rate for your entire company.
Comparing occupancy rates across different offices
Understanding the variance in occupancy rates across your various locations is vital. Which offices have higher or lower occupancy rates? If one location has a high occupancy rate, do you need to recruit locally or seek support from other sites for sustainable growth? Analyze factors such as local recruitment challenges, customer confidence in consultants from remote offices, and opportunities for improved collaboration between locations.
Comparing occupancy rates across different roles:
Evaluate the demand for different roles within your company. If a specific role has a high occupancy rate, it's essential to strengthen that competence by identifying consultants who can develop into the role, recruiting new talent, or expanding your network with sub-consultants. Conversely, if a role's occupancy rate is low, determine whether it's a short-term or long-term issue. Explore opportunities to increase sales activities, redistribute consultants' responsibilities, or explore new industries where the role is in high demand.
The power of in-depth analysis
Continuously analyzing occupancy rates from multiple dimensions enables your consulting company to be more agile and proactive. By minimizing the risk of unsustainable high or low occupancy rates, you can maintain a healthy business. Conduct combined analyses of occupancy rates by location and role to identify how specific sites can support others with consultants in particular roles. Build trust among your customers that regardless of location, your consultants are equally exceptional, fostering a basis for a long-term, high, and sustainable occupancy rate.
Five tips for agility through improved occupancy analysis:
- Determine the frequency of analyzing occupancy rates: Decide whether it should be done annually, quarterly, or more frequently based on your company's needs.
- Explore additional angles: Break down occupancy rates by factors such as education, certifications, and business areas to gain deeper insights.
- Expand your data parameters: Identify relevant data points beyond occupancy rates to determine if they are high, low, or long-term. Consider adding new parameters to your analysis.
- Appoint a dedicated analyst: Assign someone within your company the responsibility of continuously analyzing and communicating occupancy rate insights to ensure informed decision-making.
- Foster transparency with a clear dashboard: Establish a centralized dashboard that promotes transparency among teams, locations, and sales professionals. This enables everyone to contribute to achieving an even and high occupancy rate.
Book a demo today!
Discover the power of smarter occupancy rate analysis for your consulting company. Book a demo with Bizzcoo today, and let us show you how our comprehensive consulting system can drive your growth and success.
