Strategies for Enhancing Billability of Bench Talent

February 25, 2024

Are there any ways to change a talent bench into a billable resource? Before knowing the strategies, let us revisit the billable resource meaning and know what a talented employee on bench means

A billable resource is a valuable employee who directly contributes to the company’s projects. They bring in revenue for the organization. 

But what constitutes the bench? Some resources are skilled enough to be in the company, but at a given time, they are unable to drive revenue. 

This article will discuss the strategies a company can adopt to enhance the billability of its bench talent. Read on to learn the secrets to releasing your workforce’s maximum potential!

The Billability of Bench Talent Explained

As we know, an on-bench employee is temporarily not fruitful during their bench time. Companies can adopt certain strategies that help in upskilling this talent bench to align them to the ongoing business demands! 

Let’s illustrate it through a skill-up story of an imaginary character, Alex, a skilled developer but a bench employee in a tech company. He faces a challenge when given a new project that requires specific skills. 

Recognizing Alex’s potential, the company arranged for Alex’s strategic upskilling. Tailored training and resources transformed Alex into a skilled bench talent ready for the project. With this strategic move, the company turned Alex into a billing resource!

This is how investing in employee development can turn challenges into success stories! The company must know the proper strategies to exercise in order to push the billability of bench talent. 

Strategies for Enhancing Bench Talent Billability

Let us look at some basic strategies that collectively contribute to creating a dynamic and responsive talent pool that is ready to transition seamlessly from the bench to billable projects.

1. Continuous Learning Initiatives

Nothing in this constantly shifting corporate world works more than continuous learning. It is essential and helps organizations adapt to evolving industry trends. Companies need to invest in ongoing training programs, workshops, or e-learning platforms. 

Encouraging employees to pursue learning regularly guarantees that their abilities remain current and that they are aware of the most recent developments. This increases the organization’s overall efficiency and competitiveness while also enhancing individual bench talents.

2. Targeted Upskilling Programs

A smart identification of specific skill gaps within the bench talent helps. Organizations require well-crafted, specifically targeted upskilling initiatives to close these skills gaps. 

This means providing appropriate training, qualifications, or courses that support both the strategic goals of the company and the bench employee’s personal and professional goals. By ensuring that bench talent acquires the exact capabilities required for future projects, targeted upskilling increases their billability.

3. Proactive Talent Assessments

Companies can proactively identify strengths, shortcomings, and possible areas for improvement among their bench staff by conducting regular talent assessments. Competency evaluations, performance reviews, and skills exams are some examples of these assessments. 

Organizations can design individualized development programs based on the insights gathered from these assessments, which guarantees that bench talent is appropriately matched with the objectives of the business. 

4. Agile Workforce Management

Developing an adaptable and responsive organizational structure is a key component of agile workforce management. This makes it possible to quickly assign bench employees to projects as their expertise becomes relevant. 

It is recommended that companies implement agile approaches for project leadership and staff allocation in order to adapt to evolving project requirements promptly. This flexibility increases bench talent’s billability and reduces downtime.

5. Employee-Centric Development Plans

Companies should adopt employee-centric development plans in regard to the fact that every employee is uniquely special. These plans take into account learning preferences, professional goals, and individual talents. 

Organizations can encourage employee enthusiasm and an atmosphere of ownership by incorporating them into the preparation phase. Tailored development strategies guarantee that bench staff is engaged and driven to make valuable contributions to billable projects, in addition to possessing the requisite skills.

The integration of all of these basic strategies forms a holistic approach to enhancing bench talent billability. But what if we have a platform that serves as a resource to give it all and even beyond? 

Techademy has been at the forefront of providing customized talent-skilling solutions that are focused on ensuring a supercharged ready-to-deploy tech workforce!

Techademy’s Approach to Empower Your Strategies for Bench Employees

Organizations can take advantage of Techademy’s organized approach to skill development to support their bench staff in reaching their full potential. Our specialized strategies are made to effectively empower your employee bench policy and keep your employees on the bench prepared for the ever-changing business and skill dynamics.

CURE – Comprehensive Skill Development

Techademy’s CURE methodology works very well for on-bench employees. We believe that cross-skilling, upskilling, reskilling, and expert-skilling can help extend horizons and maximize potential. This all-encompassing strategy assures that your bench workers are actively developing their abilities to adjust and thrive rather than passively waiting in the background.

  • Cross-skilling: Allowing staff to become experts in allied skills can help them reach their full potential and widen their perspectives. The results are better fitment and confidence in deployed projects.
  • Upskilling: Invest in continual training to reach new heights in employees’ tech skills. Ensure that your bench staff members are up to date on the newest developments in technology and knowledge.
  • Reskilling:  It is the process of reiterating skills to ensure learning reinforcement and skill application. Tailored learning programs spanning relevant technologies equip your bench staff with the skills needed for future-oriented roles.
  • Expert-Skilling: Develop specific technological know-how among your bench employees. Expand their knowledge, pick up cutting-edge abilities, and establish them as go-to sources for challenging tasks.

 

ULXP – Unified Learning Experience

An intelligent skill-building platform, or ULXP, is a tool that combines different learning and development materials, technologies, and tools into a single, cohesive interface to support learning while working. It acts as a single point of contact for planning, executing, and overseeing staff training initiatives and educational materials. 

A ULXP platform combines the salient features of LMSs (learning management systems) and LXPs by curating learning paths that are suited to certain learning goals that are met through practical experience. 

Techademy’s ULXP provides the ultimate solution for seamless skill development that constitutes an amalgamation of Techademy Yaksha, Techademy MakeMyLabs, and Techademy-Virtutor. Through cloud labs, the bench employees may take part in hands-on learning, regularly participate in skill-based exams, and access personalized learning paths.

  • Identifying Skill Gaps: With Techademy’s ULXP, you can quickly find and close skill gaps so that your bench staff members are always prepared for the next challenge.
  • Customized Upskilling Programs: You can choose the best learning courses and customize upskilling programs to your bench staff’s needs in particular.

 

Final Thoughts 

Using Techademy’s tried-and-true strategies, equip your bench staff to embrace lifelong learning, adjust to changes in the business, and prosper in the digital age. Boost bench strength to create a vibrant, competent workforce that is prepared to make a meaningful contribution to the success of your business..

FAQs About Enhancing Billability of Bench Talent

Q1. What can companies do to assess the efficacy of their strategies?

Companies can leverage Techademy’s comprehensive approach and ULXP platform to streamline talent development strategies. Techademy enables tracking success metrics and KPIs seamlessly, offering personalized learning paths, regular assessments, and hands-on experiences through cloud labs. It facilitates a holistic evaluation of bench talent development, ensuring measurable and impactful outcomes.

Yes. With Techademy’s ULXP, skill shortages can be quickly identified, enabling organizations to customize upskilling programs to meet the needs of specific individuals. You can make sure that bench staff members have the necessary abilities, which will improve their readiness for project tasks.

Learning telemetry integrated into Techademy’s ULXP platform. This makes it possible for businesses to monitor and evaluate results like better project contributions, shorter time-to-productivity, and enhanced billability. Techademy ensures that bench talent development programs are effective by facilitating a thorough examination.

About Techademy

The accelerated pace at which businesses are rushing toward digitization has primarily established that digital skills are an enabler. It has also established the ever-changing nature of digital skills, and created a need for continuous digital upskilling and reskilling to protect the workforce from becoming obsolete.

How Our LXP works in the real world
and other success stories