Managing a small business is a complicated endeavor, and is prone to many types of failure. However, you can head off many of these failures by using the right software. Software enforces the major decisions you make, and keeps you constantly abreast of both major points and small details. This software can be used whether it is part of your core operation or not.
Keeping your workforce scheduled properly can be a full-time job in and of itself. However, with the right kind of software, you can keep the schedule balanced and keep your staffing solid. From there, it can become far easier to keep track of payroll and control what may be your largest expense item.
Time Off Management
Time off is a tricky subject. There are times when people need time off so they do not burn out, and losing good employees to attrition is often bad for business. However, tracking who has time off and when can be challenging. This is why software makes the process into an easier one, because this way you can track who has time off and who most likely needs it. Beyond the law, this is a valuable perk that can help you to keep the best workers on your team.
Labor Cost Estimation
Labor costs are a major portion of small business expenses. Whether you are at a stable level of workers for the time being or are in an aggressive expansion phase, labor costs can quickly turn your account balance from in the black to in the red. Particularly if you operate with many lines of credit and notes receivable that may not be fulfilled for a few months, being able to keep your labor costs in check is crucial to your success. Software that helps in this regard is a major component of running your business effectively while having time to make the big decisions. Remember that you can only save capital if you can first acquire it.
Your core business is as variable as anything, particularly during that rough start-up phase. However, if you are not a tech company at your core, it may be beneficial to resist the urge to keep your IT setup in house. Not only does this expose your servers to the same potential losses as your building, such as if there is a fire, vandalism or a localized natural disaster. Allowing your systems to be administered over the cloud, and hosting your data on virtual servers far away, can actually be far more cost effective for you than having an entire IT department with well-paid professionals who need benefits, payroll taxes and the other costs of doing business. Simply paying a routine fee can end up saving you significant amounts of capital.
Attendance is a difficult matter. On the one hand, you want your workers working as much as possible. On the other hand, you do not want to pay them unnecessary overtime, nor deny them time off that they have accrued as per their contracts. The former can be very costly, while the latter can cause serious morale issues. Using the right software can help you avoid attendance issues, while maintaining morale fairly.
Legally, you need to keep compliant with certain time off requirements. These may include FMLA, disability, military leave, and a host of other times when absence is justified. Software can help with legal compliance by keeping you abreast of what the law permits, as well as what it requires. This software can save you from potentially costly lawsuits.