How bad is it when a PR agency is proud of only over-indexing by 20%. My girlfriend was really chuffed by this fact, and she should be because most often the index is swamped by extra hours, etc. Surely there is a good case for timecards, and making sure you’re not working more hours than you’re being paid to execute. But when was the last time that happened? Really? We know that attorneys and accountants tend to keep good hourly records. Most PR agencies strive to do this, but it can be hard – so much of what we do mixes and melds and merges.
Here’s the thing, you can’t afford to constantly over index, but you also can’t afford to not get the job done.
There is a lot to be said for maintaining good boundaries and not watering down your hourly rate, but if you spend most of your time administering and not delivering you’re bound to get fired. I’ve said this before, communication is key to survival. Keep a short account and let the client know when the hours are starting to work against the good vibes. You know what I’m talking about. Remember how easy it is to forget how long it takes to do something? Your clients forget, too. Give them a gentle reminder, it’s good for the relationship.