Spend less time crunching numbers and validating results. Labor Costing gives agencies the ability to modify employee groups, track costs individually, measure total compensation, and confidently validate results for trust-based decision-making.
Empower your organization with Total Compensation Analysis, a feature-rich component of our Labor Cost Analysis module. Understand the complete picture of employee compensation, from salaries and benefits to bonuses and special pays. Make informed decisions that align with your budgetary goals and employee retention strategies.
Dive deep into salary structures, ensuring equitable and competitive compensation for all employees. Assess the impact of benefits on overall compensation, allowing for strategic adjustments. Align compensation strategies with budgetary goals for a balanced financial approach.
Our Labor Cost Analysis module includes powerful What-If Scenario tools to help you plan for the future. Explore various scenarios, anticipate changes, and make informed decisions based on hypothetical situations.
Predict the impact of changes on your labor costs, allowing for proactive budget planning. Test different variables such as salary adjustments, workforce changes, and benefit modifications. Identify potential challenges and develop contingency plans through scenario analysis.
Our Labor Cost Analysis module is built on the foundation of data-driven decision-making. Leverage actionable insights and analytics to guide your organization towards strategic and informed choices.
Access up-to-the-minute data for immediate decision-making. Generate detailed reports for a thorough understanding of labor costs. Navigate a customizable interface tailored to display the most relevant metrics.
Our consultants conduct a thorough analysis of your labor costs, examining salary structures, benefits, and incentives. This forms the foundation for strategic decision-making and resource optimization.
Collaborate with our team to develop a tailored labor cost management strategy aligned with your organizational goals. Benefit from insights into areas for improvement, ensuring your strategy is effective and sustainable.
Receive hands-on support for implementing your new labor cost strategy. Our consultants provide training and continuous monitoring, identifying optimization opportunities and ensuring your organization stays agile in the face of evolving labor cost dynamics.
“It’s not just an actuarial valuation … others can do that … the customized software, the data, educational webinars, and the fact that we have experts available to us when called upon is really valuable and sets GovInvest apartfrom the rest.”
"The time savings has been huge. Before working with GovInvest, if we wanted to model our pension obligation it could take three or four months. Now, we've reached that point of clarity that we can present this information to our board with confidence. GovInvest has given us accurate data at our fingertips in a clear, easy-to-understand and visual way"
"GovInvest has enabled our city to bring our processes for managing pensions out of the dark ages. The software paid dividends during our recent conversation around modeling and analysis regarding potentially issuing Pension Obligation Bonds. GovInvest was an integral part of our evaluation, communicated with us weekly and the expertise proved vital. This is a company that takes the stress, cost and time out of financial forecasting on a massive scale."
"I WOW’d everyone at negotiations. I was able to quickly cost out the union’s very expensive proposal."
"GovInvest has been a phenomenal tool to validate data, as well as increase transparency and trust with our labor union groups. Having access to a team of experts who are focused on financial forecasting and deliver a concierge service has been the greatest benefit. As a client, it has also provided a resource of city best practices available at our fingertips."
"I wanted to reach out and thank you all for your assistance and expertise. It was greatly appreciated. The analyses you had provided and the model itself were instrumental in helping get a state budget passed this year. For once, the pension outlook in CT looks promising - we’ll be contributing roughly 7% of the unfunded liability into the system next year. Looking forward to our training session over the summer."
"The software has allowed us to provide labor costing while in negotiations. After showing the costing with labor groups, there is more trust in the city’s calculations for their proposals."
"The software is very user-friendly, and staff is very helpful in assisting with questions and helping to better understand the software data."
