Challenge 3 – Insufficient Resourcing of Innovation
A key challenge for professional service firms is in making employees/managers/partners available to work on innovation activities and taking them away from fee earning work.
In addition, another challenge for firms is in their ‘bandwidth’ available to support innovation activities. Many firms routinely take on a level of improvement activity that exceeds the capacity of their key internal personnel to deliver them. This overloading is often in the IT department in a professional services firm as well as in fee earning departments. The result is that projects will routinely slip creating a culture of backlog and limiting the ability to focus and dedicate significant time to any project. This slippage means that potential benefits are late to be realised (or are never realised).