Resiliency & Payroll - Scheduling
" Your smile is your logo, your personality is your business card, how you leave others feeling after an experience with you becomes your trademark."
Jay Danzie
Payroll Budgeting - It's a Process
Resiliency requires retailers to be on top of their expenses. Certainly, controlling the big three, rent, payroll, and inventory is crucial to profitability.
Having the budget is the starting point.
Try Taking These Steps
- Start with an accurate business assessment by store.
- Identify your ideal annual payroll rate as a % of sales.
- Assess what the minimum payroll for each location is based on current staffing.
- Establish your monthly payroll based on the determined rate of sales.
- Determine how you can cut payroll in months where you minimum is over rate.
- Compensate for months where the minimum pay is over rate by reducing payroll in other months
Landing on the Correct Payroll Budget
Can Be A Balancing Act
Having the budget is the starting point.
Try Taking These Steps
- Start with an accurate business assessment by store.
- Identify your ideal annual payroll rate as a % of sales.
- Assess what the minimum payroll for each location is based on current staffing.
- Establish your monthly payroll based on the determined rate of sales.
- Determine how you can cut payroll in months where you minimum is over rate.
- Compensate for months where the minimum pay is over rate by reducing payroll in other months
Scheduling Your Team
Now That You've Identified Your Budget
Let's Talk Schedules
In the minding the shop page you’ll see several tips about scheduling your team. In a perfect world the percent a day is of your business would be the same percent of your weekly payroll budget. Of course, that is challenging due to all the tasking that needs to be accomplished on slower days.
Consider These Tips
- You can increase performance by scheduling your best sales associates during peak selling hours.
- Establish a timeframe for how far out associates will have their schedule and stick to it.
- Set a necessary lead time for receipt of requested days off & establish blackout dates when additional day's off can't be taken.
- Write 4 weeks of schedules and post only two allowing for need based adjustments.
- Do stick to your weekly payroll budget.