Labour forecasting

Labour forecasting

What is labour forecasting?
Labour forecasting is the process of determining how many staff working at what specific hours that a business needs to employ or roster on in order to meet key business needs and objectives.

Why should a business engage in labour forecasting?
There are many reasons why businesses across a variety of different industries need to engage in labour forecasting. Firstly, labour forecasting helps to ensure that a business is neither understaffed nor overstaffed.

Labour forecasting also plays a key role in helping to determine whether PTO and leave requests can be approved or might need to be denied for certain times.

It’s also worth mentioning that labour forecasting plays a key role in workplace morale. It is stressful and harmful for employees to work in environments where the business might be understaffed. By getting the balance right, you can ensure that your employee has a good working environment, all of which helps lower employee turnover rates.

There are also business facets to consider. When properly staffed, a business neither leaves money on the table nor stands to lose money. This is because labour forecasting has helped to roster on the exact amount of staff needed at the exact time they are needed.

What can employers use to facilitate labour forecasting?
Roubler’s all-in-one workforce management platform provides invaluable insight when it comes to the process of labour forecasting. With data synchronising to the platform in real time, managers can make informed decisions in both the short and long term.

Labour forecasting is also created efficiently with this business intelligence tool ensuring that both budget and labour concerns are taken into account in order to create helpful, actionable data.

< Back to Glossary Terms