A short YouTube video by Louis Massaro offering operational advice for moving companies: track weekly payroll as a percentage of weekly revenue (example: $100,000 revenue and $25,000 payroll = 25%). He urges establishing a weekly benchmark and monitoring deviations to detect problems such as high overtime, theft, or off-the-clock work.
Every week. You want to run your payroll percentage, okay? You want to know what your percentage is on a weekly basis. So let's say you did for round numbers again, I'm just going to say 100,000 in the week, right? Good size company, right? Doing 100,000 a week. And you're spending 25,000 in payroll. That's 25%. Okay? So start tracking that number, whatever it is for you, and establish your benchmark from there. You want to monitor that every single week because any dip or any increase in that number tells you that there's something that's changed, there's something that's different. This will help you identify all kinds of things. High overtime, theft, people working off the clock. There's a lot of different things that that's going to help you to identify. Start tracking it, and you'll see for yourself week after week how it all plays out.
