Cash Management Tips: How to Reduce Labour Costs at Your Casino

    Mar 28 2018

    Topics: Cash Management

    A casino has many expenses. You have to pay for maintenance on your machines, food and beverage services, and, of course, employee wages. Expenses like these can really add up.

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    You may be thinking to yourself, “There has to be a way I can reduce costs without compromising the integrity of my casino.”

    Fortunately, there is. Reducing labour costs is an effective way to save money and it can even improve your customer service. How can you get started? You need a sound plan of action, which should include these six means of reducing labour costs.

    Invest in Virtual Security

    Employing a full security team around the clock can cost you a large sum of money. Instead, switching to virtual security is more cost effective in the long run. While investing in new technology may be a hefty upfront sum, there’s a significant return on investment when you’re not paying various salaries for a security team.

    Facial recognition cameras and online software protection are just two of the ways you can protect your casino without having to hire more security personnel.

    Create a Foolproof Schedule

    Overscheduling and under-scheduling are two major problems when it comes to labour costs. If you don’t book enough employees, other staff members may have to work late in order to keep up. This can lead to employees going into overtime, causing you to pay time and a half.

    On the other side of the spectrum, over-staffing your establishment can be equally problematic and costly. When you over-staff, you’re paying more for the same amount of work to get done.

    In order to avoid both of these problematic situations, you need to perfect your scheduling system. There are many options for scheduling software available for casino owners and managers to get their scheduling under control.

    Incentivize Your Employees

    A motivated employee is an efficient employee. When you set a target for your employees to meet, they work that much harder. Set weekly KPIs for your employees to meet. Offer incentives and reward your employees who are doing a great job.

    Creating a system where your employees can see how they’re performing in relation to other employees can also help motivate employees.

    Automate Floats

    Cash recyclers are an easy way to minimize labour costs. Instead of having your employees count and recount floats, this can all be done with a recycler—the cash that goes in is the same as the cash that goes out. It can also keep track of your funds so there’s no chance for any money to be miscounted or go missing.

    When your employees spend less time focusing on preparing floats, they have more time to complete additional tasks. Automating your cash management systems can allow you to reduce the number of employees in the count room and shorten shifts, thus saving on labour costs.

    Cash recyclers are also a great way to minimize your vault holdings and cut back on armored vehicle costs as well.

    Provide Quality Training to Employees

    Employees who know how to do their jobs well are more likely to be profitable employees. Ensure they know your company processes by providing them with high-quality training. From software training to operations, you’ll be amazed at how much more efficient your employees can be when they know how to properly meet your expectations. You may be able to reduce the number of staff members on the floor when your employees are more efficient.

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    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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