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 message 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 significant ROI.
Here are 3 important ways Workforce Management Suite helps businesses 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 flagrant time theft.1 The two types they indicated 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 employee. For one employee working at $10 per hour, that can be a loss of $45 per week.
Reduce 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 business 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 staff members can really take a financial hit. Manual time and attendance systems don’t have built-in notifications to alert managers when associates are approaching or have exceeded their authorized hours. The larger your business, the more unplanned overtime costs you. Workforce Management Suite customizable overtime warnings are one of the most popular features in our system.
Workforce Management Suite will swiftly 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
SwipeClock LLC 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 TimeWorksPlus Mobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is developed 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 SwipeClock LLC ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.