Firms starting their financial year in January will be close to finishing their budgets.
Lots of year on year comparisons with bridges and waterfalls showing the areas of variance – leading to challenge and sometime begrudging acceptance of some realities.
Operations cost budgets will likely show increases relating to minimum wage increases and annual pay awards whilst seeking to show a variety of mitigations and innovations to improve cost deterioration.
By way of a quick example, 250 people costing c£28000 per annum being award a 3% increase in their hourly rate adds something like £200k to the site’ cost budget for seemingly no increase in output.
It can be difficult to argue keeping pay in line, or better than, other local employers will help with retention and reduce churn but it is a reality – pay awards are investments in goodwill as well as being essential for employees to keep pace with the cost of living.
Retaining well trained and experienced staff is an essential ingredient in the running of a good operation – constant churn affects morale, is distracting for front line managers and increases the likelihood of operational errors – putting a value on this element of operational management is almost impossible but the benefits are tangible.
Optimising people in operations is a natural want of all employers and essential in maintaining or even creating a competitive advantage – employees value knowing where they stand and everyone appreciates being recognised for a job well done. Providing feedback that is data driven and entirely reliable helps to reduce the chances of unintended bias whilst driving up employee engagement, Vitesse ensures everyone is evaluated the same.
Vitesse helps to increase productivity by setting fair and achievable task times whilst also identifying where time is being lost – all in near real time. Vitesse is empowering managers to take proactive steps to impact the outcome of their area of responsibility.
Reduce costs and increase efficiency with Vitesse.
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