2023 PS Talent Benchmark
By paying with your card, you acknowledge that your data will be processed by PayPal subject to the PayPal Privacy Statement available at PayPal.com.
Item Number: SPI23PSTB
SPI Research Proudly Publishes the 2023 PS Talent Benchmark!
Service Performance Insight, LLC is proud to announce the publication of the 2023 Professional Services Talent Benchmark report, based on surveys taken from 137 billable professional services organizations, representing over 50,000 consultants.
This important 122-page study profiles talent priorities, the move to virtual service delivery, level of employee investment and the impact of business applications. The study provides analysis of target and realized bill rates; compensation and utilization across a broad range of professional service verticals, geographies and 12 job levels around the globe. It provides an unprecedented view of Professional Services workforce distribution and composition by industry segment through an analysis of organization structures for various service segments including IT Consulting; Management Consulting; Architects and Engineers and embedded service organizations within Software-as-a-Service (SaaS) companies.
Highlights from the report include:
- The pyramid has shifted, meaning business consultants are the highest percentage of employees, taking the leadership position from technical consultants.
- Hiring is up for professional services - Despite inflationary pressure PS leaders are adding headcount.
- Employee attrition is up - As the economy recovers, Consultants have more options. Employee attrition rose above 10%.
- Bill rates have increased, but not by as much as expected - SPI Research expected a 10% - 15% increase in bill rates. They went up by 17% overall, but primarily due to senior-level employees billing more hours.
- Projected billable utilization has decreased – PSOs reduced their target annual billable hours.
- Base salaries are up, but bonuses are down – As consultants drive for higher weekly compensation.
- Talent trends and challenges.
- Workforce composition and structure – PS sub-vertical profiles of workforce composition and key talent metrics including location, compensation, pricing and utilization.
- Job roles and job descriptions for 12 consulting positions within 4 job families.
- Base and Variable Compensation – for 12 job titles by PS industry vertical, organization size and geography.
- Utilization – for 12 job titles by PS industry vertical, organization size and geography.
- Bill rates - published and realized bill rates for 12 job titles by PS industry vertical, organization size and geography.
- Professional Service business applications – currently used and planned.
- Workforce planning – plans to hire and fire by PS sub-vertical, role and geography.