A monthly newsletter by Workamajig
Process: workflows & operations - ya know, the day-to-day stuff
Projects: ‘nuff said
People: think resource management, employee retention, customer service
Profits: the part that keeps us all in business ;)
The King of The 'P's
What’s the name of your agency’s game?
Profit, of course!
At the end of the day, profit rules the ‘four P’s’, because without profit, your processes, people, and projects aren’t sustainable.
In this newsletter, we’re going to focus on utilization rates - what they are & and how they affect your profits.
For a profitable fate, you gotta know your utilization rate!
As any project manager will tell you, not every agency hour was created equal. Some are billable, and some are unavoidably not.
The amount of time your employees spend on billable work is their utilization rate, aka their labor rate.
As well as being a key metric in tracking your agency's true profitability, utilization rate tells you if your employees are working too hard, too little, or just the right balance.
If, for example, an employee is working at a 100% utilization rate, you’ll want to bring in some extra talent before they suffer from burnout. If, on the other hand, an employee only has a 50% utilization rate, they may need extra coaching, or to have their time structured more effectively.
This simple formula can be used to calculate the utilization rate:
For an in-depth breakdown, and some snazzy tips and tricks on utilization rate, view our extensive guide on this topic here.
Not yet a utilization rate tracker? No fear! Workamajig has you covered.
Check out our help guide articles on utilization rate and become a pro in no time!
For Workamajig Pros: click here for our Time Productivity Analysis page, and right here for our Labor Budgets page.
News and Updates
Happy Workamajig users meet happy Workamajig users!
We have some new client story videos to share with you!
Click here to watch Workamajig users share their challenges & successes.
Does your location affect your creativity?
Workamajig has conducted an innovative study called ‘Creative Cities’ and determined the answer…
A resounding ‘yes’! A good, creative environment can inspire creative thoughts and lead to breakthrough innovations.
Color, space, lighting, and sounds for example, can stimulate the brain to produce original ideas
What are the most creative cities in the U.S? And more intriguing, do you live in one?
Find out here!
To all you hard-working people, you long deserve a holiday! So let us wish you...
To bring even more ease to your project management, Workamajig now integrates with Slack!
This fabulous new feature allows you to get basic project information through Slack, and will soon be going live.
Check out this exciting new release in detail here.
To view all the feature releases & updates for this month, click here.
Enter to win! ⬇️
And now... your take
It’s almost December, which means it’s almost time to draw the raffle and reveal the cool new owner of AirPods Pros!
Entering the raffle is super easy. All you need to do is tell us how Workamajig makes your year-end reporting easier, right here:
---->>>>> Agency Showcase
The more insights you share, the more chances you have to win!
P.P.S. Join Kelly Campbell twice a month as she goes deep into what it means to lead a creative agency, with interviews discussing leadership, culture, mindset, and more.
Check out the latest podcast episodes here