How to Align Your Year-End Staffing with Budget Goals

Looking to align your year-end staffing plans with your budget? This is an important step to ensure your workforce is managed in an effective, yet cost-efficient way. To help you, here are a few tips to keep in mind:

5 Tips for Staffing in Your Budget 

Understand your company’s staffing data.

Throughout each year, you should be gathering and tracking staffing data. Metrics to analyze include productivity, turnover, overtime, number of hours worked, customer retention, and revenue per employee. Through this data, you can then identify trends, look for potential challenges, and better forecast your staffing and hiring needs for the year ahead. 

Set goals for 2024 that are realistic.

Setting goals is another important part of aligning staffing and budgeting. This includes any new hires you’re planning for the year ahead, as well as related metrics, such as pay and benefits, skills and qualifications, and the number of people you’ll need to hire. Also take into account factors, like seasonal fluctuations, yet be flexible enough to adapt to unexpected circumstances.

Consider a mix of workers.

Keep in mind too that not all new hires need to be full-time employees. Optimize your workforce with a mix of contractors, part-time employees, and temporary workers. This will provide you with the flexibility needed to manage through upticks in demands, slowdowns, and other different situations. 

Keep communication open.

When you’re hiring and bringing new people on board, whether on a full-time or temporary basis, communicate with your existing staff. Collaborate with them ahead of time so you can gai insight into any skill gaps or staffing-related challenges. Also, discuss goals and expectations for your team in the year ahead and ask for feedback. Look for ways to resolve challenges together before they escalate next year.  

Measure progress.

As the new year begins, set checkpoints for evaluating where you are with staffing goals and outcomes, as well as your budget. This will help you adjust courses if needed and ensure the company stays on track in terms of hiring and budgeting.

Need Help? Turn to Gill Staffing

If you need help with the process, Gil Staffing is here for you. As one of West Michigan’s leading staffing agencies, we can ensure your business is optimally staffed, all year round, while staying within your budget. Let us help you reach new heights of business success. Contact us to get started and learn more.