The future of work is rapidly changing. It is shocking to know the number of companies that still utilize excel for scheduling, reporting, and overall strategic workforce management. What opportunities are being missed when data is mismanaged?
The hospitality industry has notoriously been left in the past when it comes to modern technology. Today, we find workforce management solutions based on analytics can save companies millions of pounds. Insights into how your business is running day-to-day, allows you to make decisions for the long run.
Three letters, one big difference: ROI
Work smarter, not harder. A positive return on investment is the key to any profitable business. To make strong data-informed decisions, you need strong data. A consistent flow of information collected about your employees, financials, agencies, and various costs associated with your organisation will lay out a strong foundation and sets the stage for a definite return on investment.
An AI workforce management solution within your business enables decision-makers to informed decisions through every step of the process. From onboarding to supply chain, with every small change in the market already taken into account, it is simple to see where you can cut costs.
What are the benefits of data-driven WFM?
Reduced time spend on administration
Daily tasks like scheduling, budgeting, and reporting take up countless hours. Automated reports and forecasts are saving time and money for companies. Taking the time spent on these tasks allows managers to focus on other parts of your business, like employee engagement, developing business, or customer satisfaction.
Optimizing your business to run at the highest proficiency allows your staff to focus on customer satisfaction. Forecasting for busier days or locations takes the strain out of employees and encourages a more relaxed atmosphere. Improving employee satisfaction and retention leads to better client experience, which ultimately leads to boosting sales.
From agency spend and labor costs to budgeting and forecasting, the power is in your hands. Instantly, see where your business stands financially and make decisions for the future. Implementing strict budgets within employees’ modules will allow them to focus on actual people management, and allow you to have peace of mind.
To this day…
…many companies base their plans for the future on unreliable and insufficient data sources. In the event of a change, say a pandemic or a shift in the economy, adjustments need to be made and executed in a short period of time. Employers need to be able to plan for multiple futures ahead of them. Creating different budgeting scenarios each with different supply, cost and business goal alignments will allow you to see how changes impact the organisations short and long term needs.
People are organisations most valuable asset but it is critical to properly manage and utilize data to run a successful business. The more unified data is from all of your sources, the better the view you will have of your organisation.