Better Budgeting with Position Control
The landscape of the Health and Human Services industry has changed drastically in recent times. The growing age of U.S population has put a lot of pressure on organizations to meet the increase in industry demands, and executives are scrambling to build their workforce to take advantage of the new opportunities these demands have created. Before executives begin the building process, they must first make certain that they have sophisticated budgeting tools in place to ensure their organization is financially sustainable.
While there are many budgeting tools available to Health and Human Services executives, Position Control has proven to be the most helpful to organizations within the industry. Position Control is a rare, sophisticated HR software feature that provides executives with unparalleled insights into the costs associated with their workforce. Reports such as vacancy reports, roll-ups, and daily-lost revenue reports allow executives to complete in-depth labor analysis with extreme precision. An HR software with Position Control allows you to analyze budget performance and control payroll costs without compromising quality of care.
Since labor costs
are the leading expense for healthcare organizations, it is extremely important that executives within the industry have a clear understanding of the costs associated with each employee. Position Control makes this information incredibly easy to track by enabling executives to assign specific, inheritable attributes, such as salary range, cost center, funding source, and program, to each position within their organization.
Position Control also ensures that organizations within the Health and Human Services industry don’t make the mistake of hiring any unbudgeted employees. In an industry where budgets are tight and resources are limited, executives must make sure that their new hires don’t jeopardize the organization’s financial health. With Position Control, each new employee must be placed in an “approved to fill” position. In other words, new employees can only fill positions which have been through a Workflow Approval Process and have received the “go ahead” from appropriate authorities within an organization.
To make intelligent, impactful financial decisions, Health and Human Services organizations must set realistic budgets based off accurate, relevant data. In an industry that spends most of its budget on labor, understanding the exact labor costs within your organization is essential. Position Control makes tracking these costs and their financial impact simple.
To dig deeper into the budgeting powers of Position Control, and many more benefits, download our free eBook
on the Powers of Position Control.
This DATIS Blog
was written by James Clark, DATIS
, on May 1st, 2017 and may not be re-posted without permission.