One of the hardest tasks in management is making good decisions that benefit both your employees and your business. As businesses grow and change, many are paralyzed by the fear of making the wrong move which can damage their business growth and employee morale. The time and attendance data offered through workforce management software is one way that managers can gain extra knowledge of their business needs and make smart decisions. These are just five ways time and attendance data can help you make better business decisions.
Hire Smart
Creating a new position is a huge cost to businesses. Whether it's an executive team member or an hourly front-line employee, training, benefits, and salary add up to a huge cost that can be completely wasted if spent on the wrong position. Time and attendance software allows employers to identify where new employees are most needed by monitoring staffing levels and overtime hours. Rather than relying on employee complaints and managerial gut instinct, time and attendance data can pinpoint where and how new positions are necessary. Managers can make smart decisions about hiring with their time and attendance data.
Get Lean
Many times, a new hire isn't the answer to business problems. Instead, better scheduling and training can address business needs. However, lean initiatives can be hard to identify and harder to justify. Time and attendance data can identify where employees are overstaffed and where they are understaffed. Rather than hiring a new position, time and attendance data can identify where employees can be cross-trained and moved to meet business needs.
Identify Future Issues
One of the best ways to prevent slowed growth is to identify where you'll feel pain points in the future. Time and attendance data can give the ability to forecast those future issues by highlighting where staff are stressed and where business is booming. By tracking these trends, managers can address pain points as needed without disrupting normal operations.
Stay Ahead of the Competition
Staying at the top of your industry and ahead of your competition is essential in business, but you don't want to overspend to do it. Time and attendance data is one way to identify coming trends and needs with solid data rather than just a hunch. You can analyze where and when you have the most need for employees and transition that data into research on why. When you can present upcoming needs with solid data, you can make better and more confident business decisions.
Meet Business Goals
Growing businesses understand the importance of clear business goals and meeting those business goals is essential to growth. Time and attendance data can help you meet business goals by identifying places within your staffing that would achieve those goals. You can increase cross-training to meet demand and eliminate excessive staffing and ensure that management staff are complying with staffing goals.
Managers don't need to make decisions alone. In fact, with the right data, they can accurately make important business decisions that advance business and are fiscally conservative. Time and attendance data is a huge benefit to managers and time and attendance software is the easiest way to gather and examine that data.
