LABOR BUDGETING
A True Bottoms Up Budget
Combine accurate long-term demand forecasts with your detailed labor model and scheduling rules to create precise labor budgets.
- Accurate labor cost rooted in your labor model and takes into account all labor policies and rules.
- The final labor budget can be set for execution and is automatically enforced in the Legion Automated Scheduling module, ensuring your financial goals are tightly aligned with store execution.
Highlights
Automatically align the unique differences and needs of stores and the labor model required to run the locations or stores with labor budgets.
Precisely define labor hours that your business needs over the next 12 to 18 months by skill and location
Create dynamic budgets by quickly modeling what-if scenarios or directly adjusting the total budget hours
Get better visibility and more profound insights—track budget to execution, identify gaps, and adjust budgets based on needs
Base budgets on accurate forecasts
Generate precise labor budgets that connect your staffing model with the stores’ labor models.
Accommodate unique and complex standards and granular labor requirements, including multi-level compliance rules, diverse shift patterns, and wage and hour regulations calculations.
Leverage machine learning-powered forecasting and scenario models using Legion forecasted demand or externally loaded demand.
Increase business agility
Automatically model multiple what-if scenarios to create dynamic budgets and identify profit-optimized “best bet” labor decisions that balance costs and revenue impacts.
Create long-range labor budget and execution tracking for annual labor budget planning and ongoing monthly and quarterly reforecasting.
Improve labor budget execution
Automatically enforce the budget in weekly schedule generation.
Ability to adjust budgets and keep financial goals tightly aligned with store execution.
Leverage actual operational labor models.
Manage budget adjustment and track budget approval.
The Benefits to Your Bottom Line
Legion Labor Budgeting leverages sophisticated AI to generate precise labor budgets that form the foundation of your long-range planning.
Increase Operational Efficiencies
Create the perfect budget plans based on accurate, granular demand forecasts powered by machine learning and rooted in optimized labor plans
Improve Labor Budget Execution
by automatically enforcing the budget in weekly schedule generation
Provide Better Visibility and Deeper Insights
by tracking budgets to execution, quickly identifying gaps, and making adjustments
Improve Business Agility
by creating dynamic budgets that can evolve by quickly modeling what-if scenarios or adjusting the total budget hours
FAQs About Labor Budgeting
Here are a few common questions we receive about Labor Budgeting.
Legion Labor Budgeting does not replace your ERP financial planning system. Instead, it is designed to work with your ERP system by providing labor demand and budget.
Legion Labor Budgeting not only gives finance and operations a single source of truth, but it also enables bottom-up or top-down collaboration when creating budgets by stores for the entire year. Budgets can be automatically enforced down to the store level in weekly schedule generation.
With Legion Labor Budgeting, you can marry your staffing model with the labor models used in the stores to create an accurate labor budget that can be enforced in schedules every week—12 to 18 months out, making it easy for finance and planning teams to easily create accurate long-range plans.
Closely aligning retail labor budgeting and demand forecasting is essential to optimize costs, enhance customer satisfaction, and improve overall efficiency. It helps retailers allocate staff effectively based on predicted demand, preventing overstaffing or understaffing, which can lead to cost savings. This alignment ensures that employees are available to provide excellent customer service, manage inventory efficiently, and adapt to seasonal fluctuations. It also boosts employee morale by providing consistent work schedules and ultimately contributes to higher profitability through improved resource allocation and operational optimization.
Ready for a Demo?
Request a demo to see Legion Labor Budgeting in action and learn more about how we can help you create optimized labor budgets.
