I had a conversation recently with a client of mine and told her about how, many years ago, when I started out in business, I charged $150 per hour for HR consulting services.
Some of my very first consulting gigs were for 3 or so hours of work.
3 x $150 = $450.
Problem was, I had to factor in travel time to get to and from the client’s office.
Plus, before a client site visit, you’re not really working on anything else. You’re preparing mentally and getting documents ready.
So, really, my 3-hour consulting gigs were close to a full day but for only 3 billable hours.
Last week, I had a Zoom meeting with a larger client of mine.
They have just closed a 6-figure HR consulting deal (not hourly billing).
They also have the potential to turn that into a 7-figure deal (yes, that’s more than 1 million dollars) if they do a good job which I know they will because I’m lucky enough to only work with good HR companies that always deliver.
The money’s good but the cool thing is that the consulting work is exciting too.
So, as you can tell, I’m not a big fan of hourly billing.
You’re probably not a fan of it either, I know, and you’re probably using retainers and/or project rates.
However, what is a good rate for your services and how high can you go?
“How much should we charge for HR consulting services?”
I’m doing some research into current HR business pricing which I will write up with the (anonymous) feedback and share with you when it’s done so you can look to increase your revenue.
I’d love to get your input (all completely confidential, of course).
Would you take a look at the quick questions below?
All the best,