Searching for staff to fill open positions is a very time consuming and costly process. In a manual scheduling environment, it is difficult to determine the most cost-effective resource to place in an open position. Many times, overtime is utilized when there are other qualified candidates available who have not yet exceeded their standard weekly hours. iNOVAR® assists in reducing overtime by quickly providing a list of qualified resources that have not exceeded their maximum work hours for a given week.
The example below calculates potential cost savings based on overtime reduction.
Overtime Cost Savings
| Position | Avg.
Hourly
Rate | Overtime
Rate | Overtime $
per/hour | *Avg.
Overtime
Hours
per/week | Overtime $
per/week |
| Secretaries | $10 | $15 | $5 | 60 | $300 |
| Nursing Assistants | $20 | $30 | $10 | 100 | $1,000 |
| Registered Nurses | $25 | $38 | $13 | 100 | $1,250 |
| | | Total Monthly Overtime Cost | $2,550 |
| | | Total Annual Overtime Cost | $132,600 |
| *Average Overtime Hours are an estimate. |
| Proposed Savings based on Overtime Reduction | Annual Cost
Savings |
| | 30% Reduction of Overtime Hours | $39,780 |
| | 40% Reduction of Overtime Hours | $53,040 |
| | 50% Reduction of Overtime Hours | $66,300 |
| | 60% Reduction of Overtime Hours | $79,560 |
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