Wage Control Module 4: Managing Wages
In Module 4 we'll begin to manage wages. We'll finalize our monthly Wage Margin Goals and create our Weekly Wage Report. These tools will allow us to track our wages daily, and allow us to control wage expense in real time.
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Introduction to Managing Wages
Open to view video.
Open to view video.
Manny will show the 4 step process to managing wages on a daily basis. He'll discuss the impact this will have on profit, and how the system can be passed on to a supervisor.
Review of Wage Margins and Goals
Open to download resource.
Open to download resource.
In this short component, Manny reviews Wage Margin Goals one more time.
Connecting Sales and Wages
Open to download resource.
Open to download resource.
Manny explains how combining your Sales Forecast and your Wage Margin Goal creates your wage budget for the week. He'll also touch on how to manage wages based on the daily sales.
Weekly Wage Report
Open to view video.
Open to view video.
Manny introduces your 2nd Most Important tool to drive profit: The Weekly Wage Report. He also tells you to "relax, you got this" as he goes through a sample Weekly Wage Report.
Weekly Wage Report Instructions
Open to download resource.
Open to download resource.
This component will give you the detail instruction from the previous video component regarding the Weekly Wage Report.
Managing Wages Daily
Open to view video.
Open to view video.
In this video, Manny explains how to enter daily sales and wage information into your wage report each day. This real time review and analysis will allow you to make critical decisions to achieve your goals.
