How Online Software Solutions Can Improve Labor Forecasting

By Britt Davies via the Workplace Blog

Labor demand forecasting is at the heart of successful scheduling in the retail sector. After all, any business will find it difficult to create effective schedules without an understanding of how busy their store is likely to be on any given day. However, it's also more than that. With an accurate labor forecast, retailers can predict not only how many people they will need to meet demand, but also exactly when they need them, and where.

Increasingly, leading retailers are using online software solutions to address the challenges of scheduling and forecasting. In a highly competitive marketplace, many companies have identified customer experience as a key area in which they can differentiate themselves. They know that optimizing their workforce is the way to ensure customers never leave the store disappointed.

Earlier this year, research published by Retail TouchPoints found 65% of respondents claim that scheduling processes directly contribute to revenue growth. In addition, 88% of retailers said they believe better payroll allocation can improve profitability.

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