Categories:UK

Spiralling hourly rates fail to trickle down to associates' pay packets

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  • Recovery rates mean more

    The rate at which WIP is converted to billings is of far greater importance than mere headline charge out rate data. The current national recovery rate is about 85 per cent, which implies £1.5bn is being written off every year. Add in the true cost of associate attrition as highlighted by the PWC report in November and it starts to make sense.
    The final element is clients' considerable and growing dislike of the time and cost driven model for charging especially when and despite client care provisions almost no firm can render a bill on budget for commercial work. It is sorry picture that will hasten change and introduce new, smarter ways of working. Susskind will be proved right in due course.

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