Every budget has built-in assumptions. Savvy managers document these assumptions as they go, testing them against last year’s numbers when possible. Example: If you assume a 10 percent employee turnover or a 25 percent reduction in the use of temps, list these items alongside your budget projections. Compare them to last year’s results to evaluate whether they’re realistic, and make adjustments based on evidence. Tracking your assumptions as you go works better than going back later and trying to play catch-up, especially if you’re suddenly asked to explain your budget.
Most organizations still have much to learn and decide upon before the 2015 and 2016 deadlines. How is your organization using the time to prepare? What are your options… and what can you do now to minimize or avoid penalties? How can you estimate the amount of employer penalties to decide whether to offer health insurance in 2015 and beyond?...Click here to find out more.