See 2020 in a New Light: 3 Different Lenses (Lens 2/3)

LENS TWO of three –Control the “added” costs that come with employees; make sure you are taking the Wide Angle View.

Last week I posted on the benefit of often paying after delivery, not before, when using a vendor like Baufest. Today, I am sharing details about the added costs that come with full-time employees.

What happens when you take a step back and you look at the wide angle view of your organization and really evaluate the costs with growing your team to achieve your 2020 deliverables, what do you see?

With any full-time employee, there are clear costs beyond the wage: benefits (medical and financial), paid time-off, promotions, and incentives to name a few. These are relatively easy to measure and well understood (but sill sometimes missed) during budgeting. Employees also carry implicit costs that are less well understood and quantified that can impact your project productivity including: training/reskilling, change management, mentorship, and career development. Finally, there are some insidious costs that we all hope to avoid: politics, bias and power plays are a few.

Though there is no discounting the benefit of having FTE's on your team for specific roles, consider that a relationship with a partner clearly eliminates certain clear costs and the best partners eliminate or mitigate many of the implicit and insidious costs. For example, you should not pay for vacation or holiday time, skilling, change management or career growth.

What 2020 objectives are you finding most challenging since having to reevaluate the goals you set for 2020? Let us know below!