In recent years, enhanced by the economic crisis, we have seen a growing awareness of the need to better manage labor costs, and in service oriented industries improve customer service, as a mean to expand organizational profitability. Time and Attendance solutions represent one way of addressing the concerns of the organization about the productivity and efficiency of their workforce. Automating workforce management represents the leap that organizations are required to make to gain more control over their labor costs.
Benefits of an automated solution:
Reduce payroll error rate and processing time
Automated data collection and processes, interfacing to other software packages such as ERP and Pay systems, reduces the need to establish and maintain employee information within different organizational systems. As a result the amount of human error that can increase payroll costs is eliminated. With the elimination of manual intervention, organizations can move towards more an administrator-rule environment to create consistency between union agreements, as well as federal, provincial/state, and local regulations and different types of payment for employee work categories. Data automated transfer between employees, managers and payroll administrators increase accuracy, reduces re-work and reduces payroll overpayments.
Reduced overtime
Minimizing overtime is crucial to controlling work costs, which must be taken into consideration when allocating work or shift time to an employee. With reporting capabilities of automated time and attendance, solution managers are able to assign work more cost-effectively, based on who is least likely to incur overtime rates. A rules-based solution governing work agreements and regulations assures that payments will be made according to employee schedules, preventing unnecessary payments of overtime due to unauthorized early arrivals and late departures.
Eliminate costs of time sheet and time cards:
Savings are gained in any organization based on paper elimination by reducing storing, archiving and restoring of time sheets and time cards. Significant savings occur in organizations with more than once-a-month pay periods. Gartner offers a calculation of $0.03 savings per time sheet, multiplied by the number of employees and pay periods. There is also less of an opportunity for these records to be lost, damaged or destroyed.
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