Labor is often the largest cost for many organizations – particularly service organizations – and the cost type that is most easily modified to have the greatest impact in the short to medium term. BetterVu’s Labor Planning App provides managers with the tools to easily and accurately determine the right number and type of staff resources needed, at the right time, and place, to meet varying customer demand.
The Labor Planning App determines the right level of human capacity required under various scenarios and assumptions, and compares it to planned available capacity, enabling managers to efficiently and accurately optimize their staffing needs. The analysis can source changing business volume projections from other models, and to feed downstream financial planning models.
This version was developed specifically for Insurance operations but could be customized to meet the needs of any service business.
This 6 min video explains BetterVu's approach to Labor Planning and includes a demonstration of our App in an insurance use case
Home Screen / Main Menu
View current/historical staffing levels and metrics by team and role
View historical and projected business volumes. View and adjust forecasted activity frequency and review forecast activity volumes.
Capacity utilization by staff / role prior to adjustment
Driver-based activity planning uses historical business volumes and applies statistical trends and management adjustments to forecast key business volumes, such as new business or active accounts or policies.
The model then translates that business demand into the required levels of effort using a driver-based approach, to compute activity levels for each team and role, and in each time period. This begins with historical data and can be adjusted for planned changes in activity frequency – such as when an activity can be self-serviced by the customer, or to project changes in seasonality.
Volume Overrides and Seasonality
The model loads historical volumes and can utilize standard override methods to project future business volumes. For insurance organizations, the model can project policies in force based on new business growth and retention assumptions.
Activity Frequency Forecast
The model translates business demand into the required levels of effort using a driver-based approach, to compute activity levels for each team and role, and in each time period. This begins with historical data and can be adjusted for planned changes in activity frequency – such as when an activity can be self-serviced by the customer, or to project changes in seasonality.
Time Standards Analysis
Using Time Standards by activity, role and team, the model accurately projects the required staff resource levels, or capacity, measured in hours of effort. This calculation can be adjusted to deal with changes in effort level, such as when a new system is being introduced.
Workforce Requirements Computation and Simulation
Using Time Standards and projected Activity Volumes, the system computes required workforce levels for each activity at a team and job level. For future work, the model includes workforce routing logic to assign work activity to teams based on specified business rules.
Staff Analysis and Work Routing
Current staffing analysis is provided to measure historical staffing, costs, productivity and team utilization. Staffing projections are adjusted to take into account changes in staffing levels at a team and role level.
The system tracks changes across scenarios to guide managers in balancing future staffing levels against computed required staffing needs. This supports the goal of meeting requirements while minimizing unused capacity.
Operational Metrics and Costing
A full set of output metrics is supported for both historical and forecasted activity, including FTE levels, costs, productivity, utilization and throughput.
BetterVu is a leading implementer of financial and operational Performance Management solutions using Anaplan, with a focus in Services industries including Financial Services, Hospitality, Healthcare and Technology. We bring expertise in best practices for planning, forecasting, costing and profitability in a collaborative approach to deliver value in a rapid time frame.