A really quick & simple check I know some people use is weekly revenue per employee (or crew) divided by weekly hours worked.
For example $5,870 / 38hrs =$154.47/hr. That allows simple comparison between employees/crews. (Relax I’m in Australia that’s not USD. 😂)
From there you will hopefully have already dug deeper into back costing to establish a GP% target, but it’s really GP$/hr that will let you drill down into your profitability, which is a function of productivity and pricing.
Every job should be back costed, you can’t manage what you don’t measure.
We also do majority (~74%) recurring work, for the moment we use the Jobber profitability calculation as our quick check. I know it needs to be around 80-85%. If it slips, we need to check why. If it was a once off, that’s ok (rain delay, had to pause work for pedestrians etc.) but if it’s happening constantly and the crew are working efficiently the job just needs a price increase, it’s often as simple as that. I would bet most businesses don’t increase their prices as often or as much as they should…