39 firms in the 2022 Anytime, Anywhere Work™ (ATAWW) Survey reported average net fees per FTE employee (as measured by full-time equivalents or FTEs) of $226,000 or more. This group represents the top 18% of the total participant pool when it comes to average net fees per FTE, which is determined by calculating the total net fees for the prior fiscal year divided by number of FTE employees (including partners, client-facing team members, and administrative/operational team members).
Why consider this metric? The theory is that the more revenue placed in the hands of each employee, the greater the leverage applied and the more profits a practice will earn. We were interested to see whether these firms with higher “profit potential” are also making more progress with their flex and remote initiatives. See the following chart indicating the questions where the Firms with Higher Net Revenue per FTE Employee were more progressive or unique from the rest of the survey set.
| Exhibit: Firms with Higher Average Net Fees per FTE Employee
Compared to All Respondents (5%+ differential) |
||
| Everything Respondents
2022 |
Higher Average Net Fees per FTE
2022 |
|
| Does your company allow for Anywhere work? Completely remote + Office space and people can choose | 80% | 87% |
| We allow all admin/ to work remotely some or all of the time | 27% | 38% |
| Employ remote workers in another geography | 78% | 84% |
| We hired them in remote locations | 81% | 94% |
| We have a remote recruiting strategy | 43% | 63% |
| Does your company allow for Anytime work? Yes | 94% | 100% |
| Flex time options | ||
| Unlimited PTO | 19% | 29% |
| Reduced hours off-peak (normal hours during busy season) | 55% | 63% |
| Non-traditional staffing | ||
| Offshoring work to providers overseas | 35% | 51% |
| Outsourcing work to domestic providers | 30% | 43% |
| Hiring gig-based workers to work on a contract or fractional basis (as-needed), regardless of location | 30% | 37% |
| We allow interns to work from the office, home, and other locations, sometimes outside our geography | 39% | 51% |
| We have an Anywhere Work policy or guideline | 57% | 62% |
| We bring everyone in a few times a year during the same time period for company-wide events and team building | 38% | 47% |
| Steps we take to ensure the remote feels included | ||
| We have “champions” who check in regularly with remote team members, gathering feedback and suggesting changes to support remote team members | 16% | 27% |
| We regularly remind our leadership team of our remote and flex strategies to ensure their support | 49% | 62% |
| We teach and practice including meeting facilitation techniques | 31% | 41% |
| We invest in our conference room tech so that remote team members can fully participate and be seen/heard by in-office meeting participants | 63% | 71% |
| We hold regular check-in meetings with remote staff to evaluate what’s working and make necessary adjustments | 56% | 65% |
| We survey remote and flex team members to gauge their feelings about inclusion and empowerment | 23% | 35% |
| Strategies to enhance connection | ||
| We host online social hours, events, and parties | 42% | 53% |
| We encourage communication among teams and evaluate progress in this area | 50% | 65% |
| We bring our people together in person on occasion during the year for strategy, collaboration, and fun | 77% | 94% |
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Renee is a partner with ConvergenceCoaching, LLC, a national consulting firm dedicated to developing leaders and transforming teams through coaching, practice consulting, strategic planning and learning and development.