Utilizing historical data, significant strategic decisions are made for the present and the future. To track the progress of organizational performance, identify potential development areas, and predict future trends, managers examine historical data.
Learn how to assign multiple rates to staff members so that previous data will remain accurate.
Video Walkthrough
Written Guide
To adjust the rates for a staff member, navigate to the Staff Details page and select the Rates tab.
Here, you can add a new rate by clicking the "Add Rates" button, which will introduce a new row.
If you need to remove a row, simply click on the 'X' button located on the right side of the row you wish to delete.
Filling Out the Rate Row
The row consists of several fields that define the staff's pay parameters:
From Date: The date when the rate change becomes effective. Usually, this is the date when the staff was hired.
Pay Rate: The hourly wage of the staff member.
Overtime Rate: The hourly wage for overtime work. If your organization doesn't have a separate overtime rate, this can be the same as the Pay Rate.
Cost Rate: The total cost per hour your organization incurs from project work, plus the amount you pay the staff per hour.
Charge-out Rate: The hourly rate you charge clients for the staff member's time.
Weekly Availability: The number of hours a staff member is available to work per week.
Inheriting Rates from Roles
Rates can also be inherited from pre-defined staff roles. The rates will reflect the role assigned to the staff member. To check this, navigate to the Details tab and look at the Staff Role field.
If a role is set, return to the Rates tab. Click on the dropdown option under the rate column you want to import rates from and select "Inherit from Role". Click "Save" to confirm the changes.
Verifying Changes in Revenue Forecast
To ensure that the rate changes have been successfully saved, navigate to the Forecasts tab and select Revenue Forecast.
Scroll down to the Staff section and locate the staff member whose rates were changed. You should notice a slight variation in the monthly amount in the table, reflecting the rate change from the first month to the month you added a rate.
