Even though WorkforceHub is very economical, some employers still aren’t convinced that it’s worth it and hang onto paper timesheets. Today’s article is addressed to employers who are using manual Workforce Management practices because they don’t believe that investing in an automated system will yield a worthwhile ROI.
Here are 3 vital ways WorkforceHub 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 personnel, over 30 percent admitted to blatant time theft.1 The two types they referred to specifically are buddy punching and recording incorrect 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 worker earning a wage of $10 per hour, that can be a loss of $45 per week.
Minimize Administrative Costs
With paper timesheets, your managers spends tedious hours troubleshooting timesheet inaccuracies and then manually slinging the data into the payroll system. When your HR staff can process payroll in minutes, they are free to work on company initiatives that have a bigger payoff. Overtime policing can also be time consuming, which leads us to number 3:
Minimize Expensive Overtime
Companies that mismanage overtime for hourly staff members can really take a financial hit. Pen and paper timekeeping systems don’t have built-in warnings to alert managers when associates are approaching or have exceeded their authorized hours. The larger your business, the more unexpected overtime costs you. WorkforceHub customizable overtime notifications are one of the most popular features in our system.
WorkforceHub 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 WorkforceHub, the powerful, fully-integrated WorkforceHub that makes it easy to optimize the performance of your managers, employees, and organization.
WorkforceHub includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. WorkforceHub is created for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and decrease labor costs.
We can get you up and running with WorkforceHub immediately. Contact us today to request a demo.
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