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Why is it Important to Use a Labor Management Tool for Your Portfolio of Hotels?

Why is it Important to have a Labor Management Tool?

Labor management tools are extremely important in the hospitality industry to help maintain, streamline and standardize your processes. This time-saving technology increases productivity and supports training and mentoring opportunities, while also being easily accessible and customizable to all users. Labor Management and Modeling tools are created with end-to-end coverage of employee efficiency and often use features beneficial for not only employees and GMs, but also corporate level staff.

What Are the Benefits of a Labor Management Tool?

Over the past few years, hospitality companies have been moving toward more unified systems for their labor management activities to effectively manage their largest expense: Labor.

Current day Labor Modeling systems offer numerous benefits, some being:

  • Easier Shift Creation and Shift Monitoring, allows for GMs and team leaders to monitor time sheets, track PTO requests and approvals, and allows employees to view their schedule.
  • Personalized Dashboards, allow real-time insight into daily labor costs, and can be customized according to what data is important specifically to you and your organization.
  • Flexibility, allowingan employee a self-service tool – where they can pick and choose what works best for them.
  • Cleanliness, offering anorganized platform that is easy to navigate, search, and find information.
  • Data & Reporting,that helps to manage labor costs while also proactively preventing them from spiraling out of control.
  • Mitigates the Risk of Human Error, by leveraging the approval process inherent in the tools.
  • Integrations, are beneficial to labor modeling and management tools because they can connect to identified payroll systems which help streamline HR processes.

What Problems Can Be Solved Using Labor Management?

Problem: “I am always stressed creating and managing hotel employees’ schedules.”

Solution: Labor Management tools simplifyPDO/PTO requests for both employees and managers. The tools also give managers the capability to determine, in advance, based on occupancy forecasts and labor standards, the number of employees that are needed for each shift at a hotel. Overall, Labor Management tools increase flexibility and responsiveness.

Problem: “I have a difficult time tracking time and attendance for my employees.”

Solution: Time capture and tracking is critical in any industry but especially in hospitality since it is what predicates an employee’s pay. If you are utilizing manual processes for that, it can be error-prone. Labor Management tools offer a better way to record employees’ time worked through cloud-based technology.

Problem: “My overtime is out of hand, and I am not sure how to fix it.”

Solution: ManyLabor Modeling tools can typically predict potential overtime in advance, so that you can revise schedules and eliminate, or reduce, overtime wages before they occur.

Labor management systems help provide hoteliers the tools that assist in reducing labor costs by allocating resources and scheduling shifts efficiently. With labor being the largest expense for a hotel, managing how labor is deployed is critical when it comes to operations.

Who Do Labor Management Platforms Help?

Labor management systems deliver many efficiencies and benefits to employees and managers. These tools are typically intelligent, easy-to-use, and will help reduce total labor costs and facilitate dynamic work schedules. They also provide real-time and actionable insight into how your hotel is performing and can often compare your hotel against similar properties.

Hotel Labor Management Platforms, help many personas in hotel management, some being:

  • Hotel Employees
    • House Keepers, Front Desk Agents, Bar Tenders, Waiters/Waitresses, Maintenance, Kitchen Staff, Event Planners, Porters, Door Attendants, Valet, Laundry Attendants, and more
  • General Managers and Assistant General Managers
  • Corporate Staff
    • Associates, Partners, C-Level Staff, Accountants, IT, Directors, Guest Experience Staff, HR, and more
  • Owners/Operators

Take Aways

Due to the intricacies of the hospitality industry, hoteliers should make every attempt to work with a specialized labor management and modeling provider, that focuses exclusively on the hospitality space. Your labor management software should allow you to monitor daily labor costs through features such as: attendance tracking, scheduling, reporting, and more. With this type of solution, you can gain control of your bottom line and reign in labor expenses. Invest in a platform that is best suited to manage your company, and that will provide you with proactive and informative labor modeling and management.

About M3

Built by hoteliers, exclusively for hoteliers, M3 is a powerful cloud-based financial platform and services company serving over 7,000 properties across North America’s hospitality industry by driving cost savings, revenue enhancement and business insight. After 24 years in business without increasing prices, M3 touts a 95 percent customer retention rate without contracts. Used by over 1,000 management groups and owner operators and hotels of all sizes, the platform works seamlessly with other key systems and tools in the hospitality industry and offers robust accounting and financial analysis across entire portfolios with optional operations and time management features. M3’s Professional Services team provides on-demand support for hotels of any size by offering a full range of customized accounting solutions to scale with a hotel’s needs. Privately held and employee owned, M3 continues to enhance products and services at no additional charge to its customers.

Haley Wolf
Marketing and Public Relations Manager
+1 770 533 0545

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