Non-billable hours: Strategic investment or hidden cost? - The Management Blog
Summary
For example, training your finance employees on AI and data analytics can be seen as an investment if your company plans to automate certain procedures to maximize insights and promote better decision making. It is not merely discretionary time, nor is it perceived to be something that can be conjured at will, but rather it is something that has been vetted and will be measured against a set of objectives,” explains Gerry Riskin, founder at Edge International, a global consultancy specializing in the legal and other professional services’ sectors. That said, non-billable hours can also become hidden costs when they meet the following two conditions: • They are part of inefficient processes and/or don’t provide any value to the company. This broad misconception not only affects the ability of the company to balance non-billable activities with billable work but also can lead to other issues such as employee burnout and low productivity. Furthermore, if you are able to design your talent management strategy around all of this, you will significantly maximize the value of your non-billable hours, which is something that could lead to numerous benefits in terms of employee engagement, productivity, and profitability.
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