So, first I tried increasing the amount of total billable hours by hiring more employees. That didn't work at all.
I even tried increasing my prices, but that just plain failed.
Then I tried streamlining processes and meetings that were taking time away from productive activities, and it worked a little better...
And that's when I finally tried getting clear on the average hourly rate I needed to recover per employee and how I could motivate them to take this seriously.
And guess what? This time it worked!