Full Sail Partners Blog (26)

Leadership teams and firm owners have countless business elements to focus on and decisions to make. Some decisions are no-brainers, others are hard, and some just need to wait for the “right time.” There are often firm improvements pitched for consideration that may not make it to the priority list, or that are labeled as a luxury rather than a need. The word “value” can often determine where an initiative may fall on that labeling scale. One initiative that is proving to be a need is moving your firm’s ERP solution like Deltek Vantagepoint or Vision to the cloud. Now is the time, and it should be an easy decision. Let us identify some of the many advantages of moving your ERP solution to the cloud.

Make it Easy for Your Teams

Professional services firms have data… lots of data. Much of this data is centered around your people and projects and should be safely stored and easily accessible. With a device and an internet connection, teams can securely access their solution from anywhere. This allows for great flexibility with office, remote, and field team members. The cloud is not only flexible with location, but it is also flexible with firm size. Growth is a leading driver for many firms, and it is important that systems put in place now allow for scaling up when the time is right. The cloud offering makes it easy for teams to get their work done, providing value for the firm.

Reduce IT Burdens

Another benefit the cloud offers is removing the burden on your IT team, whether internal or external. On-premise hardware requires system maintenance and server upgrades which take time and money. Moving to the cloud, IT resources can be reallocated, and your firm will have confidence knowing that your ERP system is running on enhanced security, using updated hardware and software, and requiring zero maintenance from your IT team. You can also rest assured that a disaster recovery plan has been established and is ready to be deployed, if needed. The value of the cloud ultimately improves firm efficiency because you can now focus on what you do best, providing value to your own clients.

Fixed Costs vs Unexpected Costs

Planning for and managing expenses is a significant part of a firm’s financial health. Opting for a subscription-based fee for cloud services, firms can have confidence in budgeting a fixed cost. Otherwise, a best-guess amount would be budgeted for on-premise hardware needs. Another factor that should be considered is potential downtime. On average, downtime with a traditional IT system can be four times longer than the cloud alternative. Unexpected expenses and downtime can put an unfortunate burden on a firm. Choosing to be in the cloud ensures value with increasing reliability and reducing operating expenses.

Everyone is Invited to the Cloud

Small and large businesses alike have the same access to the cloud. The cloud can give businesses a competitive edge as they use the latest ERP solution like Deltek Vantagepoint for project management, financial management, and other streamlined processes. With proven tools accessed easily from the cloud, project managers, accounting teams, marketing groups, and executives can stay integrated and informed, no matter the firm size. The cloud does not discriminate on who gets value.

Continuity is a Necessity

Now is the time to make the move. Firms should be proactive in protecting their valuable data and seamlessly move it to a safe place. Do not wait until something goes amiss with your traditional IT system. Because cloud solutions are reached via the internet, users have greater flexibility with computer upgrades and mobile devices, too. The cloud is the leading choice for data storage because it is secure, reliable, and always available. With all these benefits, it should be an easy decision that NOW is the time to move to the cloud.

While many consider satisfied clients to be the most important factor for a business to be successful, they often overlook the significant contribution that satisfied employees make to the bottom line. Employees need to feel that they are not only a part of the process but see their efforts result in positive results. If employees are left in the dark regarding firm strategies and outcomes, they are more likely to just go through the motions in their jobs rather than be engaged. The best way to make sure your staff is engaged and therefore motivated towards firm success is to set goals. Let’s see what this entails.

Set Clear Expectations

If employees know what they are expected to achieve in their roles, they will be more inclined to work hard. When you clearly state goals and explain the strategic direction your team will be taking, you provide needed guidance which forms a connection. The individual employee goals established should be aligned with the overall firm goals whether short-term or long-term. Short-term goals work particularly well as the results can be more quickly seen by both employees and managers and provide a way to offer more continuous feedback ensuring employee engagement.

Stay SMART

In identifying particular objectives, it is best to be SMART about them. The guidelines for setting goals should be specific, measurable, attainable, relevant and time bound. A specific goal should address what is to be accomplished and what resources are involved. A measurable goal looks at when it will be accomplished while achievable focuses on how realistic the goal is. A relevant goal decides if it is timed correctly and if it meets a firm’s current needs. Finally, time bound establishes when the goal should be met. Goal milestones should be set to hold employees and teams accountable, and there should be a way to track the goals using a talent management system like Deltek Talent.

Recognize Employee Impact

Employees want to see how their contributions impact their team and their firm overall, and it is easy to become disillusioned when they cannot see the end result of their actions. With a tracking system in place, managers can show employees what they have accomplished, and employees can understand how their meeting of goals benefits the company at present and down the line. When you recognize the efforts of employees, they feel like they are part of firm success and will be motivated to continue these efforts.

Put a Goal System in Place

Employee engagement is necessary for the success of your firm and setting of goals is the best pathway to ensure such engagement. This way, employees will be informed of their expectations and given an opportunity to show what they can accomplish. Tracking these goals with a talent management system like Deltek Talent will keep employee goals aligned with firm goals and provide a way for employees to see their contributions to firm growth. Put a goal system in place today.

In this digital age, project information management is crucial to efficiently maintain firm documentation. With projects that may have a duration of five or 10+ years, project files are plentiful, from large drawing files to Word documents and email correspondence. The organization of those files can be challenging for firms of any size. Therefore, established document management practices are necessary to keep projects running smoothly. So, let’s see what a great project information management (PIM) system would look like.

Challenges to Project Information Management

In order to ensure the setup of a great PIM system, let’s first evaluate the project information management challenges faced by firms:

No Two Projects are Alike - Projects are unique. They can be similar, but there will be at least one detail that sets each one apart. Firms need to create and save project files that contain the specific project details for the benefit of all team members and others in the firm that may need to reference a document, such as a contract or correspondence. The numerous drafts and revisions as a project progresses are important and should be saved in one place as well.

Many Hands on a Project - Team size can vary from a small few to over 50. No matter how much time team members spend on a project, they need access to the files that are applicable to their work and their hours should be recorded on a timesheet. It is also no secret that employees come, and employees go, so team members get added and others get shifted. If team members change, how can the project seamlessly be handed off with no interruption in service to the client without proper documentation in an accessible place?

Information Overload can be Overwhelming - We are all familiar with the yellow folders that you can sift through on the network as you hopelessly search for that one email from the client with a very particular request from three months ago. It is somewhere in there amongst the other documents - contracts, correspondence, drawings, scope of work, photos, reports, supporting data, deliverables, etc. While firms do have various ways to save their files, they are usually not saved in one cohesive location. Furthermore, varying naming conventions also create problems regarding files since not all team members have the same naming logic.

Overcoming Documentation Difficulties

Teams can better use their time executing a project rather than searching for the latest version of a file. So, it makes sense that all relevant project documentation should be easily accessible somehow. Now, what document management practices should be set up by firms to ensure all team members have the correct tools in their toolboxes?

Proactively Manage Emails – Email is a universal form of communication in project-centric businesses. It is communication, but it also can be considered important documentation. Therefore, email can be leveraged to improve productivity, and it should be managed in a secure central location with your project information.

Inclusion of all Project Documents – Project drawings, reports, deliverables, and any documents related to the project should be saved in one location. This includes contracts and change orders as well. Having all information in one place improves efficiency and can ultimately keep projects on track.

Tagging for Searchability - Tagging documents with the correct information allows a system’s search feature to retrieve related documents quickly. As a result, this saves you valuable time and allows you to easily find the document you need to continue your work.

Mobility is a Possibility – Project information management needs to happen from anywhere – office, home, or on site. Be certain that your teams can access the data they need no matter where they are. This is a vital component to a great document management system.

Auditability – Just like accounting data, your project documentation should be auditable as well. Allowing tracking helps keep the data safe and always available.

Investing in a Great Project Information Management System

A quality project information management system is a wise investment for the future of your firm. Having best practices in place regarding accurate and easily accessible project information ensures project data is an asset to the firm, rather than a liability. Even more, a well-planned system can boost team communication and collaboration as well as project efficiency, bringing your team to the next level of excellence.

For years, annual performance reviews have been the standard way to evaluate employees. Usually, these evaluations take place at approximately the same time each year. They often discuss issues from the distant past then try to address future goals which are not brought up again until the following annual review. This dated process is static and useless when motivating and engaging staff. With the competitive talent market in the project-based world, firms need to actively nurture and develop their staff using continuous performance management. Here are some key components of a continuous performance management program.

More Than Just a Check-In

Continuous performance management involves more than just an occasional manager “check-in” with employees. It goes much further by incorporating input from other team members such as project leaders, human resources and other co-workers. With continuous feedback, employees can be kept abreast of how project milestones are being met while also examining outcomes that don’t go exactly the anticipated way. Furthermore, using technology, these frequent conversations between team members become an easy occurrence.

Goal Management that Flows

Another part of continuous performance management entails the fluid management of employee goals. Hiccups and successes should not be stagnant but should be evaluated as they occur during an employee’s tenure at your firm. Growth occurs constantly and employees meet their goals in various time increments so managing these goals should be just as fluid. This adaptable management of goals benefits the firm since project requirements change as well. Therefore, goals should be altered as needed rather than absolutely set in stone.

Clear Development Plans

Continuous performance management also incorporates career development plans for employees. From getting new hires productive at onboarding to upskilling or reskilling them several years down the road, development plans should be authentic and intentional. When employees have the opportunity to drive their careers, they become more engaged with their firms. As a result, this engagement leads to more productive projects which will benefit the firm in the end.

Transform Your Performance Management Process

Based on a SHRM/Globoforce Survey, a whopping 89% of HR leaders agreed that continuous feedback had a positive impact on their businesses. However, a Gallup study showed that only 19% of millennials surveyed said they got routine feedback with only 17% revealing that it was meaningful. The project-based workforce of the present and future wants authenticity and autonomy from its employer. Yet, the same workforce desires a way to showcase its skills and advance. Continuous Performance Management offers firms the ability to fully utilize the best talent, adapt to changing needs and ensure they grow with the firm.

“What gets measured gets done” is a common phrase heard in the business world. This thought process relies on business metrics that can be tracked and focused on within an organization. Key Performance Indicators (KPIs) are the critical measurements which business leaders pay close attention to consistently. There are many leading and lagging indicators that can be analyzed to gauge a company’s health and employee productivity. So, what are KPIs that leaders and employees use to determine if their firm is operating effectively?  

Leading Indicators Look Forward

Firm leaders must always be looking to the future. New business is crucial to maintain a successful operation of a company. Likewise, appropriate staffing is necessary to ensure employee productivity.

New Business Pipeline – This measures the opportunities in the pipeline throughout the business development or sales process. The process typically covers efforts to attract clients, engage clients, then secure clients. How is a pipeline goal determined? Look at the firm’s hit rate – the ratio of wins to the number of projects pursued – and work backwards to determine the number of calls, meetings, and proposals needed to meet pipeline goals. Other metrics include client touch points, new leads, web visits, blog views, and dollar of proposals submitted, which all feed into the new business pipeline.

Full-Time Equivalent – This number shows if a firm is properly staffed for current and future work. The concept includes hours worked by part-time employees and full-time employees to determine the full-time equivalent (FTE). A firm can look at the total number of hours worked by all staff combined for a given time period and divide it by the number of working hours in that same time period. The FTE metric could trigger human resources to ramp up recruiting efforts or signal to business developers to target work for a specific time to keep utilization where it should be.  

Lagging Indicators Evaluate the Past

To keep a firm running successfully, business leaders must constantly measure results against goals. Were the goals met? Why or why not? There are a number of factors leaders analyze here.

Utilization Rate – Many firms use utilization goals as the benchmark for employee productivity. These goals are usually set by team managers and consider billable time, employee development, and administrative time. Employees can bring their highest value to the firm when they are operating at their optimal billable utilization goal. This metric is widely used at the individual employee level and group level.

Overhead Rate – This measures a firm’s non-billable costs compared to billable costs. Overhead expenses can be monitored and adjusted if this number is higher than desired. Examples of non-billable, or overhead, costs include leases, supplies, and non-billable professional hours, to name a few.

Revenue – This popular metric is the number that sits at the top of the income statement and measures the income a firm generates before subtracting expenses. This can be measured against revenue goals to determine how the company is performing. This number is important, but it should not be the only source of motivation.

Gross Profit Margin – This metric tells the firm’s process efficiency. The higher the number, the more efficiently the work is being completed. This can be measured overall for the firm as well as at the project level.

Revenue Growth – Is your firm on the desired growth path? This comprehensive view shows leaders the growth trajectory year-over-year. If it’s not on the desired path, course corrections can be made to get back on track.

Ongoing Pulse Checks Monitor the Present

It is also important to keep abreast of the general attitude towards your firm by both clients and employees. Both clients and employees contribute to the ultimate success of your firm. Thus, both should be assessed for current satisfaction levels.

Client retention and satisfaction – Repeat clients are vital to a firm’s success and can be tracked against new clients. Keeping clients satisfied helps ensure they will continue using the firm’s services. Tools such as the Client Feedback Tool can be used to gauge how satisfied clients are with the firm’s work and communication. The Client Feedback Tool can also be used to the employee’s advantage, learning where improvements can be made, or assistance requested.  

Employee satisfaction – The employee experience is just as important as the client experience. Satisfied employees are typically more productive, resulting in a stronger bottom line. It is best to keep lines of communication open and engage with, survey, and collaborate with employees regularly.

Using Metrics Ensures Firm Success

There are hundreds of metrics that can be tracked on a daily, weekly, monthly, and annual basis. It is key to find the proper balance of metrics that works for your firm type and structure. Knowing how to get the right data is also important. Solutions such as Deltek Vision, Vantagepoint, and Informer can provide business intelligence showing real-time KPIs, giving leadership teams the data necessary for effective decision making and business management. Clear data can be used to identify the most successful areas as well as those that need attention and improvement. This is the most effective way to regularly stay on top of your firm’s performance.

COVID-19 has impacted everyone’s lives quite dramatically and suddenly. For many, working from home, also known as working virtually has become a way of life indefinitely. This new concept of full-time remote working presents unique challenges. Even more, for those of us who have worked at home for years are now dealing with distractions we were not previously exposed to such as sharing workspace with family members all the time. With COVID-19 introducing a plethora of daily hurdles to our once normal lives, here are some ideas to help you stay positive and make the most of this quarantine time.

Create a Workspace

The hardest adjustment people have had to make while sheltering in place or quarantining is keeping to a routine. With COVID-19 and the rapidly changing conditions created by the pandemic, daily routines have been upended overnight. It has been easy for both parents and kids to lose track of days and of time. Therefore, to maintain a disciplined routine, it is very important to create a workspace for yourself and for the others in your household. Whether it be the kids doing schoolwork from the kitchen table or everyone working from the dining room table, choose designated workspaces with designated hours. This will help keep you and your entire family focused on getting your daily work done. 

Improve Your Professional Skills

Believe it or not, working from home during a quarantine can make you more productive. Think about it, you’re not wasting time struggling with traffic and getting kids to sports. So, with this spare time, find free resources to help improve your professional skills. Here at Full Sail Partners, we offer whitepapers, webinars, and blogs like the one you’re reading. Furthermore, Deltek and Entrinsik have similar resources that can be useful to you. Be assured that during this time of uncertainty, Full Sail Partners will continue to create and provide our content for your consumption.

Gain Academic Knowledge

Going beyond your professional skills, there are countless opportunities to increase your academic knowledge. For many, when we finish school and start a career, we quickly leave behind academia not related to our profession. Generally, this is a necessity based on our growing needs that are in line with our priorities, like families. However, there are always those courses we enjoyed as electives and wanted to take a deeper dive into, but we just couldn’t seem to find the time.  

Well, now is a perfect opportunity to revisit this as there are numerous resources available on the internet. Here are links to some example of free online academic resources:

• Khan Academy
• Coursera
• Open Culture
• Alison

Even better, if you’re a parent now having to do at-home schooling on topics with which you’re rusty, most or all these resources have you covered.  

Stay Mindful

COVID-19 has created a health scare, but it is necessary for you and your family to find control in these unprecedented times. Staying mindful of the present is a good way to gain control back. In between work activities, take the time to go outside and reflect on the peacefulness of nature. You can even find short mindfulness videos on the internet to do as a family or on your own when you take a work break. Whatever means you choose, try to stay present and productive in each day and know that this will eventually pass.

Every Cloud Has a Silver Lining

While the current situation is challenging, the reality is that it is our new norm for the near future. In this time of COVID-19 quarantine, we all must focus on the positive rather than the negative. Identify workspaces and be productive, learn something new professionally and otherwise, and above all, establish routine and stay present. Good luck to everyone out there! We will get through this soon!

We’ve heard a lot about the customer experience (CX) and its impact upon professional services firms. However, another experience that is just as significant to firm success is the employee experience (EX). The employee experience involves not only firm culture, but also the means used by firms to encourage employee success. Let’s take a look at what can be used to ensure an exceptional employee experience.

Exceptional Onboarding

It is important to set the stage for a positive new hire experience. Therefore, the onboarding process needs to be effective and efficient in getting employees to the point of being productive as soon as possible. In order to avoid overwhelming orientation paperwork, there should be an online onboarding portal which can capture all relevant new hire information. For example, solutions like Deltek Talent Management offer such a portal. Additionally, there should be a person assigned to each new hire to provide guidance and resources needed for a smooth transition into the workplace.

Performance Management and Career Development

Employees need not only independence to do their jobs, but also room for growth. Another key feature offered by a solution like Deltek Talent Management is continuous performance management. Employee goals should be managed constantly giving them a chance to meet goals in realistic time frames. Both employees and managers can then see when those goals are met and what the next steps to take would be. For the future, employees need to see what upskills or reskills are needed for a transition into a higher or different level position within the firm.

Frequent Internal Communication

Internal communication within a firm not only disseminates significant information, but also helps develop a culture. Employees should feel a sense of community with their firm and be connected to the corporate brand. Providing frequent updates keeps employees in the loop which encourages engagement and productivity. This is particularly true for remote workers. Frequent internal communication will additionally earn employee trust which ensures longevity.

Follow Through on Employee Feedback

Employee feedback can be gleaned in a variety of ways. It could come from a routine feedback survey or even discussions during goal review. No matter where or how employee feedback is obtained, it must be reviewed and acted upon to ensure an exceptional employee experience. Generally, feedback is given because employees want to see changes that will positively impact the firm. Following through on employee feedback thus benefits everyone.

Share Positive Client Feedback

One sure fire way to keep employees motivated is to show how they have positively contributed to their firm. After hours of dedicated work, employees want to see how their projects came to fruition or how the product they sold solved their client’s problems. When employees hear compliments, it boosts confidence and proves that hard work does pay off in the end. Positive client feedback should be shared not only with the employee but across the organization as well.

Employee Experience Affects Employee Engagement

It is a fact that employee engagement directly impacts firm revenue. With an exceptional employee experience, many more employees will stay engaged meaning more success for your firm. Furthermore, those same employees will continue to grow with your firm eventually moving into higher level positions. This will avoid the cost of future top talent recruitment and save your firm money. Start working on improving your employee experience today and let Full Sail Partners know how we can help.

With the recent health crisis of COVID-19 and the need for social distancing, we’ve noticed an uptick in companies’ interest in working from home. Therefore, important questions remain: What departments are feasible to work remotely? What services should be made available? How do you secure such an environment?

Setting up a Home Environment

The first thing you need to consider is if your employees are prepared to work from home? Do they have the necessary resources? Critical gear such adequate hardware and peripherals like full-sized keyboards and local printers may need to be provisioned and adequate internet connectivity both at home sites and the office should be evaluated.

Connecting to Work from Home

How will employees connect to work resources? If you are already using Office 365 or other software as a service then a good bit of the heavy lifting for email, files (SharePoint) as well as availability and collaboration (Teams) is already in place. Deltek Vision is a web based application and making it available remotely is a straightforward evolution our IT consultants can assist with or it can be moved to our Hosting environment. A virtual private network solution whereby each employee creates a connection back to his home office may be required for accessing large CAD or Engineering projects.

A new approach that Full Sail Partners and some of our clients are now using is Server and Desktops as a Service provided by Desktops2go. In this scenario, local desktops and file/licensing servers are hosted in the cloud and remote users simply connect to their workstation from wherever they are, and all workload/file access behaves as if the entire company is working from the same office. This solution also removes a remarkable load from company IT by reducing the need for purchasing high end servers and workstations for staff and provides a predictable monthly IT cost.

Other Considerations

Wide format drawings from a plotter are unlikely to work well from home. However, for drafts, we’ve seen some clients print to PDF, then use Adobe Reader’s ability to print out posterboard tiles until access to the plotters or print shop become available again. Office phones should be forwarded to cellphones or voice mail messages should be checked frequently to stay in contact with critical clients.

Keep Communication Going

From a managerial standpoint, we recommend frequent team and individual staff stand up meetings. Working from home can be disconcerting and isolating for some so additional consideration and contact may help keep morale and productivity up during challenging times. Full Sail Partners has been a virtual company since its inception with everyone working remotely. Please feel free to reach out to us to assist with your work from home needs!