Attendance on Demand Releases White Paper on Forecasting and Budgeting for Time and Attendance
Optimizing employee scheduling with forecasting and budgeting tools provide the right balance between productivity and profitability
Northville, Michigan — Attendance on Demand announces the release of a white paper on forecasting and budgeting tools for time and attendance. For retail, hospitality and healthcare employers, it means optimizing employee scheduling with forecasting and budgeting tools. To stay profitable, employers need to ensure efficient, effective scheduling of workers, striking an ideal balance between overstaffing (essentially paying for unneeded labor from workers) and understaffing (limiting productivity and service with too few staff).
Forecasting and budgeting tools help optimize scheduling through the use of labor ratios. A labor ratio is a custom ratio based on your business needs, such as nurse-to-patient or housekeeping-staff-to-guest-occupancy. Once that ratio has been computed, managers use it to schedule employees efficiently.
Forecasting and budgeting tools offer several benefits to organizations:
- Efficient employee scheduling
- Labor budget targeting
- Criteria comparison
- Multiple location scheduling
- Employee labor tracking
"Forecasting and budgeting tools are powerful for businesses looking to strengthen their edge in the recovering economy," said Beth Baerman, Director of Corporate Communication at Attendance on Demand.
To learn more download the whitepaper, Forecasting and Budgeting – Optimal Employee Scheduling for Retail, Hospitality and Healthcare
About Attendance on Demand
Attendance on Demand employee time and attendance service supports the labor management needs of thousands of companies and over a half million employees across North America. Launched in 2006, Attendance on Demand is a rapidly deployed, cloud-based solution that minimizes a company's risk and technology investment while providing advanced features for securely managing labor data — calculating pay rules, scheduling employees, budgeting labor, and automating record keeping for labor law compliance. With standard uptime over the industry average of 99.995% and above average customer retention rates Attendance on Demand removes the worry of maintaining expensive infrastructure. An extensive North American distribution network helps organizations use Attendance on Demand to reduce labor expenses and improve decision-making.