[Infographic] Is Your Employee Scheduling Costing Your Business Money?

Is your employee scheduling costing your business money? You may not realize this but poor scheduling can lead to an increase in employee turnover. For instance, if you have employees making $30,000 or less, you can expect to pay 16% of their annual salary just to find a replacement. If they make $50,000 or less, that cost increases to 20%.

When it comes to scheduling your employees, you must make sure to keep in mind what works best for not only your business but for their personal lives as well. If done incorrectly, your employees won’t be happy, which will lead to an increase in turnover. Why is this important?

Within the retail, leisure, and hospitality industry, there is an average turnover of 1.7 million employees per month. If you’re in this industry, there’s a good chance you’re adding to this average and are a part of it.

With a higher turnover, your business will be paying more to replace those employees. On average, replacing a retail, leisure and hospitality worker will cost your business $3,485. Multiply that by the number of your employees that have left and you’ll see it begins to be costly to your business.

As your staff begins to grow, employee scheduling can become even more difficult to manage. How do you make everyone happy without your business suffering?

If you’re having issues with employee scheduling, there are two things you can look into. The first solution is to create and use an employee scheduling template on a platform like Google Sheets. There are plenty of employee schedule templates available online to download. A template will be useful especially if you’re just starting out and have a small staff. You can utilize collaborative platforms to allow sharing among your staff members. This will allow you to share any changes with your employees and gain feedback to make sure your employees are happy.

The second is to utilize software to help manage your scheduling, especially if you’re business is on the larger side in terms of staff. You’ll be able to schedule employees and track hours logged all from your mobile device. This is great for any last minute changes you may need to make or having to keep tabs on productivity while on the go.