by Truno/ an integrated retail technology solutions company
Integrating your labor management system with your point-of-sale and back-office systems allows you to make data-driven decisions about how you manage your store and your people.
A quick glance at the front-end, where frustrated customers are waiting in line, and you know you need to open up another lane quickly. Meanwhile, a truck just arrived, so the warehouse team that has been slow all day is suddenly swamped. One of the team members scheduled for the seafood department just called in sick an hour before his shift. The weatherman has predicted a hurricane for tomorrow, which means tonight, a typically slow day of the week, is now likely to turn out to be busy. Even after spending hours on Sunday setting the employee schedule, the store manager has been facing over- or under-staffing issues throughout the week. Managing labor is taking up too much valuable time and is far from optimized in the hands of the store manager.
It seems no matter how experienced a store manager is, scheduling always becomes a matter of guesswork—not to mention a juggling act of employees requesting off, sick days, overtime, holidays and more. The result? Research shows that roughly 2.5 percent of a retailer’s total annual payroll is lost due to inefficient labor management. Labor often accounts for one of the largest expenses on a retailer’s books. A small scheduling inefficiency can wipe out an otherwise strong margin.
How can a retailer take out the guesswork and stop sending money out the door each pay period?
The answer lies in connecting your workforce management software to your store’s operational data. Integrating your labor management system with your point-of-sale and back-office systems allows you to make data-driven decisions about how you manage your store and your people. Some of the benefits include:
- Sales synchronization—Collect actual sales data by department and on the fly. You can compare actual and projected sales data, as well as import historical data to improve the accuracy of your future projections.
- Sales forecasting—Build staffing schedules based on sales data captured by your POS. The more information you have, the more accurate these forecasts can be. For example, with our TimeForge solutions, you can take factors like weather, holidays, seasonality and time of day into account, letting you project how many employees you’ll need in each department with 85 percent accuracy. And with advanced sales forecasting, you can predict sales for the hour within 98.73 percent accuracy.
- Labor scheduling—Set labor goals and thresholds to keep managers from breaking the bank. With TimeForge, you can inform managers about the total number of hours they should shoot for based on sales forecasts. You can even automatically generate staffing schedules based on sales forecasts or build weekly work schedule templates that can be copied from week to week.
- Attendance vs. scheduled—Track employee attendance and compare attendance reports to store schedules. You can synchronize time clocks across store locations, making it easier to fill schedule gaps with employees who may not typically work at certain locations. And if you use a biometric time clock that stores encrypted fingerprints within the device, you can prevent time theft from “buddy punching” among employees.
Does taking the guesswork out of your labor spend sound too good to be true? With Truno’s TimeForge suite of retail human capital management solutions, it’s a reality. TimeForge connects sales and labor data to provide—right at your fingertips—the necessary metrics in protecting your margins from unnecessary labor cost.
TimeForge is a human capital management software and integral part of the Truno technology suite providing businesses solutions in margin management, POS, risk management, productivity and digital commerce. Truno is the national leader in integrated technology solutions. With 40 years of experience and innovation, 8,000-plus customer sites, unmatched customer service and a best-in-class product portfolio, Truno delivers secure, stable and integrated technology solutions empowering businesses of any size to succeed in an ever-changing, competitive environment.