Budgeting Your Workforce in Planning Analytics

Dan Swan, October 8, 2021

Planning Analytics allows you to make simple or complex budgeting models that can be effective for any aspect of your business including workforce planning. Your workforce model can be as precise as your requirements, whether you want to budget at a department level, position level, or employee level.

PMsquare has workforce templates that are designed for ease of use and flexibility. Our workforce templates can accelerate the time it takes to go from gathering requirements to implementing a complete workforce budgeting solution.

The workforce model is segmented into three main modules; Input, Assumptions, and Tax & Benefit Calculations.

Table of Contents

Workforce Input

Our model provides you with an input module in which to load your HR data. The HR data can be loaded using CSV files or by directly querying your HR database. The input module also allows modifications to the uploaded data to reflect anticipated changes for the upcoming year.

Some of the input module features include the ability to display and modify:

• Annual or hourly pay rates
• Merit increases
• Status changes such as transfers, retirements, etc.
• Stipend amounts
• Alerts for required data
• Open positions

Workforce Input Module

Workforce Assumptions

We supply an assumptions module to apply company-wide expense drivers like Federal tax rates, state tax rates and other employee-related cost drivers.

Tax and Benefit Calculations

Additionally, we have a calculations module that calculates company-paid taxes and benefits, such as:

• FICA
• Medicare
• FUTA, SUTA
• Employer 401K contributions
• Employer Health Care contributions

Each of the modules in the workforce model can be calibrated to handle the precision your budget requires. As mentioned earlier, you can choose the granularity at which you will base your budget. The examples here show a budget constructed at the employee level.

Budgeted amounts from your workforce model can flow seamlessly to other parts of your model for integration into your G&A budget and/or directly into budget and variance reporting. The illustration below shows the flow of data within the workforce model.

PMsquare has proven templates that can jump-start development and implementation of your workforce planning solution. The templates are customizable to fit your company’s unique budget. The templates are suitable for large or small organizations and are designed to accommodate new features and new regulatory requirements.

Next Steps

If you are interested in or have any questions about a customizable PMsquare Budgeting Workforce template, please reach out. You can also contact PMsquare to provide guidance and support for your planning analytics solution.

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