Even though Workforce Management Suite is very affordable, some employers still aren’t convinced that it’s worth it and hang onto old school manual timekeeping systems. Today’s post 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 companies limit the cost of labor:
Employee Time Theft
If you haven’t caught any of your staff members 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 workers, over 30 percent admitted to blatant time theft.1 The two types they indicated specifically are buddy punching and recording inaccurate start and end times.
Buddy punching, entering incorrect start times, and early punch-ins and late punch-outs result in an average of 4.5 fraudulent hours per week, per staff member. For one staff member earning $10 per hour, that can be a loss of $45 per week.
Minimize Administrative Costs
With old school manual timekeeping systems, your managers spends tedious hours troubleshooting timesheet inaccuracies and then manually entering the data into the payroll system. When your HR staff can submit 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:
Minimize 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 alerts to notify managers when employees are approaching or have exceeded their authorized hours. The larger your company, the more unexpected overtime costs you. Workforce Management Suite customizable overtime notifications are one of the most popular features in our system.
Workforce Management Suite will quickly pay for itself and continue to save on labor amounts 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
TriCore offers Workforce Management Suite, the powerful, fully-integrated Workforce Management Suite that makes it easy to optimize the performance of your supervisors, employees, and organization.
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 decrease labor costs.
How much can you save? Check our TriCore ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.