The State of Resource Management from the Global Symposium
The Resource Management Institute Hosts 2nd Annual RMGS
The Resource Management Institute (RMI) has officially wrapped up a well-attended second annual Resource Management Global Symposium, which took place in Dallas, Texas on October 9th & 10th. MD Randy Myslievec, in an opening keynote sponsored by Kimble, discussed trends and challenges in resource management. Here is a summary of that presentation and exclusive polling results and other takeaways from the event.
A Bit About RMI
The Resource Management Institute is dedicated to the advancement of resource and workforce management thought leadership, best practices and standards, globally recognized credentials that certify resource and workforce management expertise, and tools and resources necessary for effective and efficient management of human capital intensive businesses.
In his hour-long presentation, RMI Managing Director, Randy Mysliviec covered the four major challenges associated with resource management in today’s world:
1) project performance, 2) utilization, 3) customer satisfaction, 4) and employee retention.
The Top Four Problems Associated with Resource Management
Project performance: 35-40% failure rates. Issues with time, cost, and quality.
Why? Most project failures result from the inability to get the right person in the right place at the right time. There is a lack of resource management-specific process and education. It’s time for a re-focus on better processes for Resource Management and improved education for resource managers.
Utilization: too low, unpredictable.
Why? Insufficient RM specific processes, metrics and technology in place.
Customer Satisfaction: impacts both internal & external customers.
Why? Insufficient automation / tools & systems lack certain capabilities. If your projects don’t go well, it’s pretty simple…customer’s won’t be happy.
Employee Satisfaction & Retention: need for better employee engagement.
Why? Project allocation method used to be linked solely to efficiency rather employee satisfaction and engagement. Resource management holds some of the answers for how to engage employees at scale.
RMI took to the audience throughout the Opening Keynote to gauge perspectives on some of the larger themes being discussed. The audience was asked a handful of live polling questions that were calibrated and presented in real-time. The audience (of roughly 103 voters) showed a majority of them (53%) believe utilization is their number one RM objective.
Poll question #1: “What is your most important resource management objective?”
- Project performance – 27%
- Utilization – 53%
- Customer satisfaction – 9%
- Employee satisfaction and retention – 9%
- None of the above – 2%
Resource Management Trend #1: The RMO is Key to Employee Engagement
One current resource management trend is the emergence of a resource management office (RMO). According to research done by RMI, the majority (64%) of organizations have some sort of a Resource Management Office constructed. RMI predicts the RMO will become the norm in most human capital centric service operations, and on an equal footing with PMOs.
As more RMOs come into existence, it has become clear that the creation and enablement of this team is an absolutely essential component for successful employee engagement. The RMO is quite literally a team built and designed for managing the most important aspect of the company—the people. They provide a greater sense of workforce stability, provide guidance for future career aspirations, and engage on a personal level with their team. The RMO is not a replacement for the HR Department, but rather a supplement necessary to engage employees on a different level. One goal of the RMO is to provide a transparent view into what people want and what actually needs to be done. The next polling question asked the audience (101 voters) to finish the sentence below:
Poll Question #2: “Regarding employee engagement, our company…”
- Has a major initiative(s) around this – 50.6%
- Has some minor program(s) – 28.9%
- We are thinking about what to do – 18.6%
- What’s employee engagement again? – 3.1%
Resource Management Trend #2: A Skills Database is Foundational
A well-designed skills database and associated processes for input and maintenance are fundamental to effective resource management. RMI survey data shows this is a major pain point for users. According to research, 71% of Enterprise/IT organizations believe their current skills database does not effectively support their needs. Three RMI best practices for the design and management of an effective skills database are:
- Defining skills by role (seems basic, but most organizations aren’t quite there).
- Ensuring regular updates to the skills database by employees (if data isn’t updated, it is useless).
- Conducting proper validation of employee-provided data by management or SMEs.
Resource Management Trend #3: Technology Tools Getting Better But More is Needed
While technology innovations amongst the resource management industry continue to improve, research notes that there is still some more room for improvement. While 73% of organizations use a PSA or PPM solution for resource management, there are still 68% that are using spreadsheets alongside PSA/PPM or stand-alone solution. Randy Myslievec suggests using the number of spreadsheets as a litmus test for great software—when purchasing, ask yourself this question, “how many spreadsheets will it replace?”
Polling question #3: “Regarding utilization, our organization currently considers utilization performance…”
- Excellent – 9.8 %
- Good, but room for improvement – 80.4 %
- We don’t measure utilization – 10 %
- We really don’t care about utilization – 0 %
RMI began the Global Symposium by using data-backed evidence and research to bolster the conversation around current resource management trends and pain points. Conference attendees were interested to learn about innovative approaches to this complex area. For most, improving resource management and utilization is a number one priority. The Opening Keynote was a moment for Randy Myslievec to connect with the audience on current complexities happening across the resource management world—regardless of industry, department, or role. Kimble looks forward to attending RMGS 2020!