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Home > Executive Report > Features
Resource management is indispensable to professional service firms, yet most consulting firms are only able to plan their resources three months ahead and many feel they do not have all the information or formal systems to manage resources effectively, according to a new survey. Here are 10 best practices for effective resource management.
Two thirds of consulting firms consider resource management as either the most or second most important business process in their firm, and many are striving to professionalize this function as they find themselves squeezed by clients unwilling to accept fee increases and spiraling salary costs. That is the conclusion of a new white paper by Management Consultancies Association, based on a survey of more than 80 consulting firms and interviews with senior consultants and operational managers.
Key areas preoccupying those responsible for resource management, according to the survey sponsored by Maconomy, are: recruiting consultants with the right skills (27 percent) and getting a balance between project delivery and business development (22 percent). However, more than half of respondents (55 percent) are only able to plan their resources for the next three months and 26 per cent are only able to plan for the next four weeks. Other frustrations for resource managers include integration with other business processes and providing visibility of resources across the organization.
“Today’s professional service firms are facing increasing pressure on a number of fronts: they have to deliver continuous results with lower margins; retain customers in a highly competitive market and, not least, develop and retain the talent in their company,” says Neil Davidson, managing director at Maconomy.
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