Show Your Organization How Much Value Your Team Brings
Problem: Is your team efficient? Does it add value? How do you know? During a period of budgetary cutbacks, the Investment Communications team at a Fortune 500 asset-management firm (and long time Purcell Communications client) faced serious scrutiny of its budget. The team needed, but did not have, a means to show senior executives what their budget was buying and why it added value. The risk: If they failed, budget cuts might leave them without the resources they needed to deliver on commitments to clients.
Solution: As a matter of course, Purcell Communications keeps extensive project and process metrics, including volumes, hours, a “level of effort” for each type of output, turnaround times, and quality standards. For this client, the reports we pulled from these metrics demonstrated that work was being completed faster, and at a much lower cost, than maintaining the work in house. We also gave the firm a series of choices for ways to cut costs, and a cost-benefit analysis for each option. In the end, the firm elected not to cut the Investment Communications team’s budget.