Automation for Labor Costing
Our labor costing solution, TruCost™, supports organizations during budget development and bargaining unit negotiations by generating detailed forecasts of future personnel costs based on proposed “what-if” alternatives.
TruCost™ allows an entity to build complex alternate position cost models, generate detailed costs for each alternative, and compare the financial impacts across alternatives all in a very short period of time. Using TruCost™, accuracy increases and work that usually takes weeks is cut to hours.
TruCost™ forecast models serve a variety of purposes:
Negotiation Support
Cost models serve as the foundation for bargaining unit negotiations through accurate forecasts of proposed contract alternatives.
Budget Development
Cost models provide detailed salary, special pay, and fringe cost projections for the analysis, comparison, and approval of proposed budget alternatives.
Decision Support
Questions from management regarding position costs and alternatives can be answered quickly with a high level of confidence.
TruCost™ simultaneously models multiple impacts across a selected employee population in single or multiple fiscal years for salaries, special pay, and fringe benefits. Results generated by the forecasting engine, detail and categorize the impact of every alternative specified in the model. The origin of every cost is precisely linked to a specific modeling decision. In addition, TruCost™ tracks and details secondary impacts such as cost increases of percentage-based fringe benefits resulting from salary increases and the compounding effect of multiple increases.
Questions, such as, “What is the third year impact if we grant firefighters a 3% salary increase in June and convert $125 monthly EMT special pay to 5% of base pay in October?” can be answered in a matter of minutes.
TruCost™ is:
Fast
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Produces results in minutes
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Calculates on the fly – behind the scenes or at the bargaining table
Accurate
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Uses actual salary, special pay, and fringe benefit data
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Calculates direct and indirect costs as well as compounding impacts
Flexible
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Considers multiple bargaining units with ease
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Develop costs at an individual or group level – your choice
Defensible
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Every cost traceable to the corresponding decision
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Builds trust with decision makers and at the bargaining table
Download a TruCost™ Data Sheet to find out more.