Job Overview:
The Labor and Planning Specialist is responsible for the effective planning and control of labor costs to ensure the company operates within budget while meeting workforce requirements. This role involves analyzing labor costs, creating detailed workforce plans, and implementing strategies to optimize staffing efficiency. The ideal candidate will have strong analytical skills, a deep understanding of labor cost management, and experience in workforce planning.
Key Responsibilities:
Labor Cost Planning and Analysis:- Develop and manage labor cost forecasts based on business needs, historical data, and market trends.
- Analyze labor expenses, including wages, overtime, and benefits, to identify areas for cost savings while maintaining operational efficiency.
- Provide regular labor cost reports to management, highlighting variances from budget and offering recommendations for cost control.
Workforce Planning and Optimization:- Collaborate with department heads to create staffing plans that align with business objectives and operational needs.
- Ensure workforce planning reflects peak periods, seasonal trends, and business growth initiatives.
- Optimize scheduling practices to reduce unnecessary labor costs while ensuring adequate staffing levels.
Budget Management:- Assist in the creation of labor budgets, working closely with finance and operations teams to ensure alignment with overall financial goals.
- Monitor actual labor spending against the budget and take corrective actions when necessary to stay within financial targets.
Compliance with Labor Laws and Company Policies:- Ensure all labor practices, including overtime and shift differentials, comply with local, state, and federal labor laws.
- Stay updated on changes in labor regulations and implement necessary adjustments in labor planning and control processes.
Cross-Departmental Collaboration:- Work closely with HR, operations, and finance teams to align labor planning with overall business strategies.
- Act as a liaison between management and employees to ensure clear communication of labor cost initiatives and scheduling changes.
Reporting and Insights:- Prepare detailed labor cost reports, including workforce productivity metrics, labor-to-revenue ratios, and cost-saving initiatives.
- Provide actionable insights to senior management to improve labor efficiency and reduce costs.
Continuous Improvement:- Identify opportunities to improve labor planning processes, enhance labor cost control, and increase workforce productivity.
- Implement best practices for labor management and cost forecasting.
Qualifications:
- Bachelor's degree in Human Resources, Business Administration, Operations Management, or a related field.
- 3+ years of experience in labor cost management, workforce planning, or scheduling, preferably in a retail or multi-location environment.
- Strong understanding of labor cost forecasting, budgeting, and analysis.
- Excellent analytical and problem-solving skills.
- Proficiency in Microsoft Excel, data analysis tools, and workforce management software.