Even though Workforce Management Suite is very economical, some employers still aren’t convinced that it’s worth it and hang onto pen and paper time cards. Today’s post 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 consequential ROI.
Here are 3 vital ways Workforce Management Suite helps businesses rein in labor expenses:
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 personnel, over 30 percent admitted to blatant time theft.1 The two types they mentioned 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 staff member. For one employee earning a wage of $10 per hour, that can be a loss of $45 per week.
Decrease Administrative Costs
With old school manual timekeeping systems, your managers spend tedious hours troubleshooting timesheet inaccuracies and then manually slinging the data into the payroll system. When your HR staff can complete payroll in minutes, they are free to work on organization initiatives that have a bigger payoff. Overtime policing can also be time-consuming, which leads us to number 3:
Control Expensive Overtime
Companies that mismanage overtime for hourly team members can really take a financial hit. Manual time and attendance systems don’t have built-in notifications to alert supervisors when associates are approaching or have exceeded their authorized hours. The larger your business, 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 outlays 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
Advantage Payroll Services offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and company.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is designed 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 Advantage Payroll Services ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to schedule a demo.