The ratio of hours billed to a client over the total number of hours worked in a week. For example, if you bill 20 hours to a client and work 40 hours in a week, then you have a utilization rate of 50%.
Example: We aim for a utilization rate of 80%.
Jargonism is a Business English dictionary. You can learn about words and phrases that are commonly used in the workplace like Circle Back, Thought Leader, and Offsite. We also have a Word of the Day, which is a daily Business English vocabulary word that is commonly used in the workplace.
On this site, we also have templates on how to communicate effectively at work, such as requesting PTO, declining a promotion, and taking a sick day.
Word: Close It Out
Definition: To mark something as completed.
Example: This task has been fixed, so let's close it out within the task tracker.