Payroll & Cost Management Process

🌟 Best Practices for Efficient Payroll Cost Management

1. Adopt the Right Mindset:
   • Treat rosters as cash – they require the same level of attention and care.
   • Recognise that payroll day is too late to discover inefficiencies. Proactively address potential issues.
2. Daily HOD Practices:
   • Morning and Evening Checks: Spend 3 minutes checking payroll details at the start and end of the day.
   • Daily Sign-Off: Ensure HODs sign off daily for the prior day.
   • Stand-Up Meetings:
     • Use the Revenue Dashboard to identify what went well and areas for improvement.
     • Evaluate weekly performance and align on necessary adjustments.
3. Update Rosters Proactively:
   • Make roster adjustments directly in Alkimii. The platform automates the heavy lifting, saving time and reducing errors.
     
     

🔄 Streamline the Process 

1. Forecast Revenues: Use historical data and current trends to predict revenues.
   • How to enter forecast figures in revenue
2. Roster the Team: Build your weekly roster to align with forecasted revenues and ensure team readiness.
   • Building your week roster
3. Agree on Forecast Percentages: Align with team leaders to finalise forecast percentages.
   • Agreeing forecast percentages
4. Freeze the Forecast: Lock the forecast to ensure team alignment and avoid last-minute changes.
   • Freezing the forecast
5. Monitor Performance:Conduct daily performance checks, leveraging Alkimii’s week cost screen.
   • Monitoring performance
6. Daily Sign-Off and Review: Senior managers must sign off daily and ensure accountability for every shift, Every shift must be explained
   • Daily sign-off process

📋 Summary of Best Practices

• Regular communication and daily accountability ensure transparency and control over payroll costs.
• Forecasting and freezing prevent last-minute adjustments and align the team to shared goals.
• Alkimii’s tools simplify roster management, performance monitoring, and reviews, enabling data-driven decisions.
• HOD engagement through daily checks and stand-ups promotes ownership of results and continuous improvement.