Tracking Your Employees: Is the Right Person on the Right Job?

Visit Website View Our Posts

Part of preparing an annual corporate budget includes the careful evaluation of your employees. There are costs behind employing specific people for the tasks they perform or the projects that they work on. Often businesses will use simple spreadsheets to calculate budgets, including full-time equivalent (FTE) data. There is an easier and more efficient way to track FTEs so that you can be sure you have assigned the right employee to the right task.

Tracking employee costs is an important element for managing departmental and corporate-wide budgets. You obviously can’t hire more people than you can afford and you need to make sure you can afford the people you already have. On top of that, you want to make sure that you have the right people performing the right tasks. Whether you hire laborers or experts, you want to make sure that the salaries match the job description, expected labor productivity, and your budget. Tracking FTEs is a common way to monitor employees and workloads and many businesses use this data to forecast expenses into the future.

Businesses may want to estimate FTE by department, specific positions, and by time periods, then use the data to prepare budgets that protect profit margins and optimize labor productivity. Managing these details with spreadsheets alone can be complicated and confusing, which increases the risk for errors. Streamline FTE tracking by using FTE Manager with your enterprise resource planning (ERP) solution. This solution will make it easier to enter, analyze, and use your FTE data. You can import budget data and export data into Excel to manipulate and use for planning budgets. You can also monitor FTEs in real time so that you manage departmental budgets or other specific budgets in real time. View vacancies as employees leave or are shifted around the business, and use a notification to alert you when a new hire will exceed a set budget.

Spreadsheets are not an accurate nor an easy way to manage FTE data. Use reliable (and automated) tracking software along with your ERP solution to make sure you have the right person on the right job. Contact Integrity Data for more information about using the FTE Manager to accurately manage departmental and corporate budgets.

By Integrity Data, Illinois Microsoft Dynamics GP ISV developing enhancements for Payroll and HR

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Show Buttons
Hide Buttons