Staying on top of all financial budgets within your business is highly important to keep your business healthy and competitive. Labour budgets are important to keep track of, in regards to labour costs, average pay rates, and the hours of work you are rostering.
RosterElf’s web and smartphone software will allow business owners and managers to compare and analyze important labour trends. Managers can compare between the past 6 weeks of business trends - including labour costs, hours, and the average pay rate. In the case that your business is running in multiple sites or locations, business owners can view labour trends across their business.
To ensure your business is being accurate and effective with budgeting in RosterElf, there are a few quick changes you can make now.
These are the groups of pay within your business or industry award. For example, you may have a pay template titles ‘Under 18’ and this may include pay rates only for staff who are under the age of 18. Setting up pay templates will help structure and organise your account.
Pay rates include the normal rates of pay as well as loading for weekends and public holiday shifts. If your business recognises overtime, this too can be a pay rule.
You can set the time allocated for an unpaid break, as well as how many hours into a shift it will kick in. For example, your business industry award might allow 60 mins unpaid break after 6 hrs into your shift. RosterElf prvodies access to managers to update this and create accurate labour costs and budgets.
If your business is utilising sales targets depending on your industry such as retail or hospitality, setting sales targets into your weekly roster will help to determine accurate labour percentage. This metric is important to track, as it determines how well your business brought in revenue against the labour costs of your business.
By entering actual pay templates, pay rates and unpaid breaks, RosterElf gives you access to view how well you are tracking towards meeting labour costs, average pay rates, and how many hours you tend to roster each week.
This is a clever tool for business owners and managers to track their labour costs to their overall financial budget. It could help managers hire productive staff and grow their business into more locations or markets.
You can download our full suite of supporting apps here:
Apple iOS Time Clock
Google Android Time Clock
Apple iOS RosterElf
Google Android RosterElf
For further information or if you would like to book in a demo session please contact us at:
1300 353 000
Customer Success @RosterElf