Full Definition of SPILLAGE. 1. : the act or process of spilling. 2. : the quantity that spills: material lost or scattered by spilling.See spillage defined for English-language learners. See spillage defined for kids. ADVERTISEMENT.ull Definition of SPILLAGE. 1. : the act or process of spilling. 2. : the quantity that spills: material lost or scattered by spilling. See spillage defined for English-language learners. See spillage defined for kids. ADVERTISEMENT.
Top 10 unbelievable historical concurrencies. Nearly all law firms make their money by billing their clients by the hour. These are known as billable hours. The more hours billed, the more money the firm will make. If lawyers do not bill enough hours each year, they will not make enough money to cover their salaries. The firm's billable hours also cover overheads and partners' profit share.
The consulting firm will track billable hours as a percentage of total working hours he could have billed out. For example, a consultant can have 77% billable hours, 88% billable hours or even over 100% billable hours. The percentage of billable hours out of total working hours is called utilization and it is a key metric used in performance evaluation by the consulting arms of professional services firms like Deloitte and PwC.