4 Ways Workforce Management Supports Accurate Forecasting

A contractor at a job site using a phone to plan.

Planning ahead is critical in construction, tying together all aspects of an organization, from financials to rostering. Construction workforce management (WFM) answers many of the questions associated with forecasting, such as where your people are going next, how closely you’re sticking to budget, what your backlog looks like and much more.

Let’s dive into 4 key ways cloud-based WFM supports accurate forecasting.  

1. Holistic Labor Planning View

“The LaborChart program allows us to forecast out the work that we need and that was a big driver in us selecting the platform. Just knowing how many people you’re going to need six months from now is very valuable.” - Dustin Burns, Vice President, IT, McCownGordon Construction

Accurate forecasting starts with a holistic view of every stakeholder, dollar and material. A solid labor plan provides a deep understanding of your people and processes. When paired with the right technology, your team is set up for success. Construction WFM makes it easier to choose the right person for the job every time by providing clear insight into who is qualified, certified, available and ready to work. A solid labor plan further informs earned value analysis and helps teams avoid margin fade. 

2. Hiring, Training and Retaining with Workforce Management 

“As a PM, I’m particularly interested in the forecasting standpoint of LaborChart. Building out a job when I get the schedule from the GC and then tracking that job from every request for labor that myself or our superintendent fills and having a record of that versus the original contract is my focus.” - Casey Corbin, Project Manager, Legacy Mechanical

When done correctly, proper construction WFM supports the understanding of where gaps exist in current workers and who needs extra training. In turn, this allows organizations to retain the right people and seek out new employees where needed. Cloud-based WFM keeps track of who has active certifications, who needs to renew them and who is ready for further development, making it easy to identify qualified employees to get the right person on the right project.

3. Staying on Budget Ahead of Time 

“The workforce management platform gives us a snapshot of where we are today, where we're going to be in 30 days, and then maybe it’s 60 or 90 days out that we need more work. Having the platform makes it very clear to the entire team that we’ve got to pick up some work.”- Chris Martinez, President, Central Electric 

Proper forecasting also allows teams to stay on time and on budget by looking ahead with a solid labor plan. Cloud-based WFM provides the right team members with visibility at appropriate permission levels to look into the future and make smart financial decisions. Especially during the construction labor shortage, every dollar needs to make a real impact on each project. With digital construction WFM, teams can identify down to daily burn, making every cent work to create the best project with the right people.

4. Learning From the Past to Plan for the Future

“LaborChart is phenomenal. The job forecasting is really what’s helped us out. It helps us when we want to go after prospective jobs or know what our workforce is looking into the future, three months, six months, so we don’t overbook or we go more aggressive on other jobs.” - Matt Lacek, Project Lead, Trinity Electric 

Whether teams are looking a week, a month or even a year ahead, they can learn from the past. Construction WFM allows contractors to look into their backlog and make educated decisions about future labor planning based on how their teams performed on previous projects with similar circumstances and deliverables. Whether pre-fabrication was a factor, or superintendents needing to bear in mind who’s retiring, there are a variety of aspects to consider, and cloud-based WFM is here to support every one. 

To learn more about construction WFM and how it can help your organization forecast ahead, book a demo today.

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Sr. Workforce Advisor
Gary Fuchs is a Senior Workforce Advisor at LaborChart. Prior to LaborChart, Gary was VP of Construction at Westphal Electric. He and his wife Cheryl are proud parents of three daughters and 10 grandchildren. Gary enjoys woodworking, golf, hunting, fishing, and working with LaborChart. In his past, Gary was a volunteer firefighter and basketball official.

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