Even though Workforce Management Suite is very affordable, some employers still aren’t convinced that it’s worth it and hang onto old school manual timekeeping systems. Today’s article is addressed to employers who are using manual Workforce Management procedures 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 limit 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 staff members, over 30 percent admitted to flagrant time theft.1 The two types they referred to specifically are buddy punching and recording incorrect start and end times.
Buddy punching, entering incorrect 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 employee working at $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 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:
Minimize 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 alerts to notify managers when staff members are approaching or have exceeded their authorized hours. The larger your company, 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 expenses 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
Berndt CPA offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and business.
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 lessen labor costs.
How much can you save? Check our Berndt CPA ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to book a demo.