Even though Workforce Management Suite is very reasonably priced, some employers still aren’t convinced that it’s worth it and hang onto paper timesheets. Today’s article is addressed to employers who are using manual Workforce Management methods because they don’t believe that investing in an automated system will yield a meaningful ROI.
Here are 3 critical ways Workforce Management Suite helps companies control labor costs:
Employee Time Theft
If you haven’t caught any of your associates fudging on their time cards—it’s only a matter of time (pun definitely intended). In a survey of over 500 retail and service industry workers, over 30 percent admitted to blatant time theft.1 The two types they recognized specifically are buddy punching and recording erroneous start and end times.
Buddy punching, entering erroneous start times, and early punch-ins and late punch-outs result in an average of 4.5 fraudulent hours per week, per worker. For one worker working at $10 per hour, that can be a loss of $45 per week.
Reduce Administrative Costs
With pen and paper time and attendance systems, your managers spend tedious hours troubleshooting timesheet inaccuracies and then manually slinging the data into the payroll system. When your HR staff can process payroll in minutes, they are free to work on company initiatives that have a bigger payoff. Overtime policing can also be time-consuming, which leads us to number 3:
Minimize Costly Overtime
Companies that mismanage overtime for hourly team members can really take a financial hit. Paper time card systems don’t have built-in notifications to inform supervisors when staff members are approaching or have exceeded their authorized hours. The larger your organization, the more unexpected overtime costs you. Workforce Management Suite customizable overtime notifications are one of the most popular features in our system.
Workforce Management Suite will quickly pay for itself and continue to save on labor rates every single payroll!
1“Employee Theft No Longer an If-It Is Now How Much!,” Kessler, https://investigation.com/2013/04/26/employee-theft-longer-now-much/, accessed March 6, 2017
Payroll Solutions offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and organization.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is created for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and reduce labor costs.
How much can you save? Check our Payroll Solutions ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.