Even though Workforce Management Suite is very affordable, some employers still aren’t convinced that it’s worth it and hang onto pen and paper time and attendance systems. Today’s article 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 significant ROI.
Here are 3 critical ways Workforce Management Suite helps companies limit the cost of labor:
Employee Time Theft
If you haven’t caught any of your staff members 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 calculated 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.
Minimize Administrative Costs
With paper timesheets, your managers spends tedious hours troubleshooting timesheet inaccuracies and then manually entering 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:
Limit Expensive Overtime
Companies that mismanage overtime for hourly employees can really take a financial hit. Paper time card systems don’t have built-in notifications to inform supervisors when associates are approaching or have exceeded their authorized hours. The larger your organization, the more last-minute overtime costs you. Workforce Management Suite customizable overtime alerts are one of the most popular features in our system.
Workforce Management Suite will swiftly 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
Access1Source offers Workforce Management Suite, the powerful, fully-integrated Workforce Management Suite that makes it easy to optimize the performance of your managers, employees, and business.
Workforce Management Suite includes TimeSource Plus, TimeSimplicity, and TimeWorks Mobile. Workforce Management Suite is designed for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and decrease labor costs.
How much can you save? Check our Access1Source ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.