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Importance of navigating cost management in the retail Industry
In April, the NLW (National Living Wage) will increase by 9.8% with an actual increase of around 11.5% to retailer’s annual labour spend when the increases to younger worker’s pay are taken into account. Without effective cost management efforts in place, this increase will have a big impact on retailer’s bottom lines.
Finding the right tools to save time and money is crucial, and S4labour are here to help.
Why is investing in cost management tools so important?
The ACS Local Shop Report for 2023 revealed that only 29% of retailers are investing in technology that can help drive efficiencies and better cost management in their stores.
These numbers indicate that over 70% of businesses are not saving time and money by optimising their workforce and operational efficiency using tech, despite labour being the second biggest cost.
With S4labour, businesses can streamline their people management, from H.R., to rota creation and through to payroll, which handles holiday pay and actual hours worked through our time and attendance system.
Effectively managing costs with the help of technology will not only reduce spending, but it will also allow retailers to focus on growing profits by getting more out of each hour worked.
Hear from leading independent retailers already using S4labour:
Rav Garcha, Nisa retailer: “It’s an affordable and efficient technology solution that is driving us further, and it is allowing us to invest in people.”
Ian Lewis, SPAR retailer: “It really has changed the way we work, and certainly saved on costs.”
Guy Warner, Upton on Severn, together with Morrisons: “In terms of efficiencies, it has driven costs down managerially. It is helping us manage our labour, control our labour costs and it is taking managerial time out of the process.”
How will S4labour work for your business?
S4labour’s tools provide visibility and control of rota cost before the money has been spent. Unexpected costs, such as NI, pension and holiday pay are included in a fully-costed rota, as well as accurate time and attendance, so there are no surprises in payroll.
Planning and scheduling teams is made simple, with rotas in one place that can be shared with staff on the employee app. There’s no more multiple versions and time-consuming rota-writing processes. Holiday accrual and requests are also managed from this single platform, saving you time on admin and allowing you to focus on activities that drive profitability.
Ahead of the NLW increase in April, finding ways to better manage and therefore reduce labour-related costs will be a gamechanger.
For more information, or to talk to one of our experts, please contact us:
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Like-for-Like Hospitality sales experience decline in January
Data from S4labour has revealed that year-on-year sales were down 2.6% in January across the hospitality sector, compared to the same month last year.
Sales saw a decline of 1.3% in London and a slightly bigger drop of 2.9% outside of the capital. Wet-led sites were the driving force behind the decline, with sales falling by 8.1%, in comparison to the 0.4% uplift in dry-led sites.
S4labour’s Chief Growth Officer, Richard Hartley, commented: “Despite high inflation levels, and therefore high prices, sales are in decline, indicating that volumes are down. Operators up and down the country are feeling the strain of rising cost pressures, as people’s disposable income is not what it once was.”
S4labour grows momentum in forecourt and multi-site sector
Following success in the single-site market, S4labour have expanded into multisites and forecourt businesses, picking up Gardner Garages, PriceWatch and Midland Motor Fuels. Businesses can now oversee the performance of multiple sites on one screen and manage rota creation and communication, as well as holiday management and payroll.
The end-to-end solution is designed to help operators manage rotas, payroll and HR across multiple stores, saving them time and money, as well as ensuring accuracy and compliance. The news comes after the company announced their partnership with Nisa Retail in September this year, which saw them working with multisite retailers, such as Rav Garcha and Siva Thievanayagam.
Speaking about S4labour, Nisa retailer Siva Thievanayagam, commented: “Our people are now managed in one end-to-end process, making it easier to onboard, keep track of shifts and pay our teams accurately.”
Garry Craft, Managing Director of Convenience Stores at S4labour, commented: “In the past year, we’ve begun working with single-site stores across the UK, as well as multisites and now, the forecourt industry too. We’ve seen our customers grow in size, and we’re thrilled to be able to support all of their stores. When Zola first started using S4labour, they had 6 stores, and now they are at 10.”
Emma Gardner commented: “The implementation of S4labour made a big difference to our operational procedures at Gardner Garages. The speed of response and support whenever queries arose was great. Now, we’re not just saving time; we’re maximising efficiency and improving the way we work.”
David Chapman, Pricewatch Compliance Manager, said of S4labour: “It’s unified all of the stores so we can see what’s going on. S4labour has given us the ability to see rotas and payroll much clearer across multi-sites, and from a compliance point of view, it’s given us consistency and accuracy in the data.”
Paul Salvidge, Pricewatch, said: “As a petrol forecourt business with multiple sites, investing in S4labour has helped us to better manage our people, from rotas through to compliance and payroll, improving communication and simplifying operations for us.”
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