Even though Workforce Management Suite is very reasonably priced, some employers still aren’t convinced that it’s worth it and hang onto paper timesheets. 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 worthwhile ROI.
Here are 3 important ways Workforce Management Suite helps businesses rein in labor expenses:
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 mentioned specifically are buddy punching and recording incorrect 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.
Minimize Administrative Costs
With pen and paper time and attendance systems, your managers spends 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 business initiatives that have a bigger payoff. Overtime policing can also be time consuming, which leads us to number 3:
Limit Costly Overtime
Companies that mismanage overtime for hourly employees can really take a financial hit. Manual timekeeping systems don’t have built-in notifications to alert supervisors when employees are approaching or have exceeded their authorized hours. The larger your business, the more unexpected overtime costs you. Workforce Management Suite customizable overtime alerts are one of the most popular features in our system.
Workforce Management Suite will promptly 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 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 designed 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 ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to book a demo.