Setting Up Labor Forecasting on the Jolt Web Portal
Labor Forecasting helps you plan and manage labor costs more effectively by predicting your expenses based on your schedules and revenue. This guide will help you set up Labor Forecasting on the Jolt Web Portal, ensuring you follow all necessary steps to create accurate predictions.
Prerequisites
You must have at least one of the following admin roles: Location Website Admin, Content Group Admin, or Company Admin to set up Labor Forecasting.
Video Tutorial
Labor Forecasting Video - Watch this video for a visual walkthrough of the setup process.
Steps to Set Up Labor Forecasting
Set Hourly Rates for Employees
Before starting, make sure you have hourly rates set for each employee.
For instructions, refer to the article: Add a Person.
Create Your Ideal Schedule
Build a schedule that fits your operational needs.
Refer to the article: Build a Schedule for detailed instructions.
Develop Your Revenue Model
Create a revenue model that reflects your business's financial goals.
For guidance, see the article: Create a Revenue Model.
Enter Group Labor Targets
Set the labor percentage for each role to categorize your labor costs.
Navigate to Settings > Location > Scheduling Settings.
Input your labor percentage for each role in the provided fields.
Configure Labor Variance Thresholds
Hourly and Daily Labor Variance Threshold: Set the dollar amount you are willing to budget over or under the group labor target.
This helps you manage budget deviations effectively.
Set the Productivity Threshold
Define the dollar amount in sales expected for each hour an employee works.
This metric helps measure the efficiency of labor against sales.
View Your Forecast
Go to Scheduling > Make Schedule > View.
Click Show Costs and then select Yes.
Scroll to the bottom of your schedule to view all projected costs.
Monitor Day-to-Day Performance
Switch to Day View on any given day.
Check the Max Variance section to see if you are over or under your set variance. This will be highlighted in red if you exceed your budget.
Make Adjustments as Needed
Based on the variance information, make any necessary changes or edits to your schedule or budget.
By following these steps, you will be able to set up Labor Forecasting effectively and manage your labor costs with greater precision. If you have any questions or need further assistance, please refer to the support articles or contact Jolt Technical Support.