One of the biggest headaches in trying to create financial labor forecasts is the constant cross referencing-adding up hours, typos, no shows, actual vs. scheduled, etc…

With Shiftboard’s financial forecasting tools you will be able to run a report of your employee’s scheduled hours and see just how close (or far) from your budget you fall.  Having this capacity to run this report directly from the data that you will be using will greatly reduce not only errors, but headaches and time spent creating a labor forecast as well.

Individuals can be assigned a pay code with an associated amount, or an overriding pay rate. When you run reports Shiftboard will calculate the overall labor cost based on hours and the associated wage.  For shifts that haven’t been filled yet, Shiftboard allows you to make a prediction on what your labor expenditures will be. By assigning default pay rates/codes to your teams, you can run reports to help determine how much you will be distributing to your workers – even if you don’t know which workers will be filling those shifts. Staffing companies can benefit from this as well—if you work with contractors whose wages vary site to site, leave your worker’s financials blank and Shiftboard will use the team’s default wage to come up with their forecasted labor.