22 Feb 3 Easy Ways to Reduce Labor Costs With Automated Workforce Management
Even though Workforce Management Suite is very competitively priced, 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 practices because they don’t believe that investing in an automated system will yield a meaningful ROI.
Here are 3 essential ways Workforce Management Suite helps companies rein in labor expenses:
Employee Time Theft
If you haven’t caught any of your employees 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 staff members, over 30 percent admitted to deliberate time theft. The two types they mentioned specifically are buddy punching and recording erroneous start and end times.
Buddy punching, logging inaccurate 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 earning $10 per hour, that can be a loss of $45 per week.
Decrease Administrative Costs
With paper timesheets, your managers spend tedious hours troubleshooting timesheet inaccuracies and then manually slinging the data into the payroll system. When your HR staff can submit 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. Pen and paper timekeeping systems don’t have built-in alerts to alert managers when employees are approaching or have exceeded their authorized hours. The larger your business, the more unplanned overtime costs you. Workforce Management Suite customizable overtime alerts are one of the most popular features in our system.
Workforce Management Suite will rapidly pay for itself and continue to save on labor amounts every single payroll!
Payroll Partners offers the Timekeeping and Scheduling Workforce Management Suite, the powerful, fully-integrated Workforce Management Suite that makes it easy to optimize the performance of your supervisors, employees, and business.
Workforce Management Suite includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. Workforce Management Suite 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 Partners ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.