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 procedures because they don’t believe that investing in an automated system will yield a meaningful ROI.
Here are 3 important ways Workforce Management Suite helps organizations 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 personnel, over 30 percent admitted to blatant time theft.1 The two types they referred to specifically are buddy punching and recording erroneous start and end times.
Buddy punching, recording incorrect 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 worker working at $10 per hour, that can be a loss of $45 per week.
Decrease Administrative Costs
With pen and paper time cards, 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 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 warnings to notify supervisors when employees are approaching or have exceeded their authorized hours. The larger your organization, the more unexpected overtime costs you. Workforce Management Suite customizable overtime warnings are one of the most popular features in our system.
Workforce Management Suite will quickly pay for itself and continue to save on labor costs 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 offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your managers, employees, and company.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, TimeWorks Mobile, and ApplicantStack. We’ve just added recruitment, onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is created for busy employers like you who need to reduce cost-per-hire, streamline scheduling, automate time tracking, maintain regulatory compliance, and lessen labor costs.
How much can you save? Check our SwipeClock ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to book a demo.