With Black Friday and Christmas approaching fast, retailers will face their busiest time of the year, and that means the start of the big recruitment drive for seasonal workers.
But how do you manage overtime through peak periods?
From now on until Christmas business are under pressure to get their infrastructure in place to cater for increased consumer spending, while margins are under pressure due to increasing costs. Retailers will need to adjust shift patterns to cover for late night shopping hours, alongside redecorating and merchandising for Halloween, Black Friday and Christmas. On top of these tasks seasonal workers need to be trained, before the seasonal retail hits its peak. This often means overtime hours increase as some activities can’t be completed within the normal workday.
One of the biggest time savings can be found in optimizing your cash management process. We have worked with a number of retailers and prior to implementing a more automated process, cash management takes between 15-25 hours per week. This time involves setting up cash drawer amounts, reconciling between shift changes, end of day closeout and audits. In real terms this means that each unoptimized retail location in the US spends around $15000 per year on labor, just to count their cash.
Tellermate helps companies worldwide put the right process in place and helps save businesses millions of dollars in unnecessary overtime. Here’s an example of how we helped Media Saturn, a German electronics retailer, with our LiveDrawer solution.
If you are interested and would like to find out more about our solutions, please get in touch.