What Are Your Services Firm’s New Year’s Resolutions?
It’s almost 2019, and while people around the world are making New Year’s resolutions, fitness goals are not just for individuals. The New Year can be a time for services firms to commit to healthier habits, too. According to The Washington Post, 25% of New Year’s resolutions are broken by January 7. But having the right fitness goals in place can mean a world of difference for your business, so long as your company stays committed.
Each of the following commitments can have a noticeable positive effect and increase the health of various aspects of your company.
Increasing Your Agility
Being able to respond faster to a wide variety of projects has grown more important to the long term success of services firms. If your company is not committed to increasing agility, make it your priority in 2019. Agile project development and resource allocation means that your clients will receive their work faster, leading to higher retention rates. When implemented properly, you will reduce the need to reassign your employees because you can see their skills and availability, which can be matched to the appropriate projects.
Strengthening Company Culture
More employees than ever base their decisions to work at, and stay at, companies on corporate culture. Focusing on creating great company culture can help you increase employee satisfaction and improve retention rates so that you can avoid the costly consequences of turnover. It can be easy to forget business culture when it comes to determining yearly plans, but it can have as much of an impact on margins as any other commitment on this list.
Improving Client Retention
Customer expectations consistently rise over time, and 2019 will be no exception. But your company’s resolution should be to stay ahead of these increasing expectations. Faster response times to requests, the ability to work on a wider variety of projects, and a more personalized experience tailored to clients’ unique preferences can all result in higher satisfaction rates and greater retention.
Managing Project Time Better
Are you accurately tracking resource hours and comparing your project estimates to real work time? It’s not just about holding your employees accountable for their responsibilities. Effective time management will help you make informed decisions regarding project assignments and team member hiring so that you can form a more efficient, well-utilized team.
Embracing Platform Integration
Back-end system integrations have continued to change the way companies work and leverage unused data that has long been at their fingertips. However, many businesses continue to leave their various project and resource management solutions in silos rather than creating an integrated technology stack that could unlock crucial insights. The task of successfully integrating your many systems on a single platform can seem daunting, but using the right solutions and having an integration strategy ready can mean that 2019 is the year your company will finally make the most of its data.
Transform Your Business in 2019
Improved processes, happier clients, and a better company culture can come from streamlining your technology. Learn more in our ebook.
Read “Transforming the Services-Centric Tech Stack”