Staffing Cost Projection Plan   Excel template (XLSX)
$45.00

Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Staffing Cost Projection Plan (Excel template (XLSX)) Preview Image Log in to unlock full preview.
Loading preview images...
Arrow   Unlock all 10 preview images:   Login Register

Staffing Cost Projection Plan (Excel XLSX)

Excel (XLSX)

$45.00
This Accounting tool was crafted by an Accountant and Financial Modeler with over 10+ years of global experience. He has served 750+ clients, from small family offices to billion-dollar corporations, across a multitude of industries.
Add to Cart
  


Immediate download
Fully editable Excel
Free lifetime updates

BENEFITS OF DOCUMENT

  1. A framework to forecast staffing costs for small and large organizations.

DESCRIPTION

This product (Staffing Cost Projection Plan) is an Excel template (XLSX), which you can download immediately upon purchase.

My goal with this template was a robust framework for both large and small operations. There are up to 900 staffing slots to enter data into, spread across 20 different departments. Each department has 45 unique slots for varying job types. I've included inputs for the Start Date, Payroll Taxes(%), Benefits (%), Annual Base Salary, Annual Increase. Reporting is on a monthly and annual view, with summaries by department. You will also see headcounts by department over time and visualizations for all high level data. Finally, the user can input a global monthly budget to see how the forecasted staffing plan compares, make adjustments, and ensure there are no overruns.

Not conducting a staffing cost projection model can pose several risks to an organization. These risks include:

Budgetary Overruns: Without a clear projection, it's challenging to accurately budget for staffing costs. This can lead to overspending or the need for unexpected adjustments in other areas of the budget.

Inefficient Staffing: Without a model, it's difficult to anticipate the need for additional staff or the redundancy of current staff, potentially leading to either understaffing or overstaffing. Understaffing can strain existing employees and reduce productivity, while overstaffing can unnecessarily increase costs.

Impaired Strategic Planning: Staffing costs are a significant part of organizational expenses. Not projecting these costs accurately can impair long-term strategic planning and decision-making.

Reduced Competitiveness: An inability to forecast staffing needs and costs can put the organization at a disadvantage compared to competitors who are better equipped to allocate resources efficiently.

Compliance Risks: In some industries, there are regulatory requirements regarding staffing levels (such as in healthcare or finance). Failure to project and maintain appropriate staffing levels can lead to compliance issues.

Inability to Respond to Market Changes: A staffing cost projection model helps organizations adapt to market changes. Without it, the organization may be slower to respond to changing market demands, technological advancements, or shifts in customer preferences.

Impact on Employee Morale: Uncertainty regarding staffing can affect employee morale and job security, which in turn can impact productivity and employee retention.

Fluctuations in Service or Product Quality: Inconsistent staffing levels can lead to fluctuations in the quality of service or products offered by the organization, potentially harming the business's reputation.

Operational Disruptions: Sudden changes in staffing, which could have been anticipated with a proper model, might lead to operational disruptions and inefficiencies.

Difficulty in Talent Acquisition and Retention: An inability to project staffing needs can make it difficult to attract and retain the right talent, as potential employees may view the organization as unstable or lacking in growth opportunities.

Overall, not having a staffing cost projection model can hinder an organization's financial health, operational efficiency, and strategic agility.

Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: Best Practices in Staffing Excel: Staffing Cost Projection Plan Excel (XLSX) Spreadsheet, Jason Varner | SmartHelping


$45.00
This Accounting tool was crafted by an Accountant and Financial Modeler with over 10+ years of global experience. He has served 750+ clients, from small family offices to billion-dollar corporations, across a multitude of industries.
Add to Cart
  

ABOUT THE AUTHOR

Additional documents from author: 170

I graduated in 2011 with a Bachelors degree in Accounting. From there, I worked at a few small businesses doing financial reporting and some bookkeeping. After a few years of that, I started doing freelance financial consulting work on Elance and Upwork.

After over 400 jobs completed with a 100% success rate, I now run my own modeling/consulting practice and continue to build new financial models every few weeks. [read more]

Ask the Author a Question

Must be logged in

Did you know?
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.
Bundle and save! You can save up to % with bundles!

View bundle(s)




Trusted by over 10,000+ Client Organizations
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes, from startups and small businesses to the Fortune 100, in over 130 countries.
AT&T GE Cisco Intel IBM Coke Dell Toyota HP Nike Samsung Microsoft Astrazeneca JP Morgan KPMG Walgreens Walmart 3M Kaiser Oracle SAP Google E&Y Volvo Bosch Merck Fedex Shell Amgen Eli Lilly Roche AIG Abbott Amazon PwC T-Mobile Broadcom Bayer Pearson Titleist ConEd Pfizer NTT Data Schwab




Read Customer Testimonials




Save with Bundles

This document is available as part of the following discounted bundle(s):

Save %!
Accounting Trackers - Tools for Accountants

This bundle contains 20 total documents. See all the documents to the right.

$249.00


Add Bundle & Save


Your Recently Viewed Documents


Customers Also Like These Documents

Related Management Topics


Integrated Financial Model Staffing Real Estate Mining Industry Loans ROI Agriculture Industry Debt Employee Benefits Logistics Transportation

Download our FREE Organization, Change, & Culture, Templates

Download our free compilation of 50+ slides and templates on Organizational Design, Change Management, and Corporate Culture. Methodologies include ADKAR, Burke-Litwin Change Model, McKinsey 7-S, Competing Values Framework, etc.