Many businesses will have a busy season and know exactly when it is. If you’re in retail, it’s probably the rush for holiday sales. If you work in hospitality, it might be the annual ramp-up for summer vacations. Whenever you hit a recurring peak, it’s critical for you to understand the trends that shape your seasons so you can plan accordingly.
Here’s how to get a handle on seasonality as an employer of hourly workers:
Use data and analytics to predict busy and slow seasons. You likely already have some idea of your business’ seasonal peaks and valleys. According to a Wells Fargo Survey, 45% of business owners reported having predictably busier or slower times of the year.
To effectively plan for peak seasons, business owners and managers should clearly identify when the season typically hits, as well as its impact on revenue, foot traffic, and staffing needs. By collecting and analyzing historical data, you can gain a clearer understanding of these elements (and more).
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Is your busy season really just December? A retailer might assume that your busiest period is right before the holidays. However, an Indeed analysis suggests, the holiday season may be getting longer, with 2017 being one of the busiest years for seasonal hiring.
So dig deep into specific data to get a clear picture of your needs. As you look at your sales logs from previous years, were you busier on certain days of the week or at certain times of day? Did certain products always fly off the shelf? Talk to your staff and listen. Did they have enough team members throughout last year’s busy season?
Getting granular with what’s happening in your business can help you predict costs, monitor whether you’re hitting targets for your next peak season, and make sure you’re adequately staffed to meet demand.
