Saving Money with a New Time and Labor Management System
Important Features that Save Money
Most automated time calculator systems offer many different features that may not be important or relevant to your company’s needs. However, if your intention is to use an automated system to save your company money there are 5 distinct ways to do so. You will also find a few questions to ask prospective companies to see how they measure up.
1. Integration with Payroll
One of the most time-consuming aspects of labor management is entering employee timecards into a payroll application. Manually, this can take up to 3 minutes per timecard and may even be longer depending on sick and vacation calculations. Regardless, human error, in this case, is inescapable. Studies have shown that payroll error factors are between 1% and 4% of total payroll.
2. Schedule Features
Scheduling Software is one of the most invaluable features in an automated time calculator & labor management organization. Scheduling can be used to identify those who are violating company policy. Solutions that offer scheduling sometimes even include the ability to lock employees out of the clock until their scheduled shift, which reduces overtime. In addition many scheduling features can help you manage your overtime by warning you when someone is approaching the overtime threshold.Get some updated news from https://www.forbes.com/sites/brettsteenbarger/2017/10/20/finding-our-greatness-fresh-perspectives-on-time-management/#41cfed171c42
3. Automated Policies
One aspect of payroll preparation that affects productivity is policy management. This includes the policies, as they effect employee change based on specific factors, including how long the employee has been with the company, position in the company, pay type, vacation time, overtime limitations and other variables. In some cases, these complex calculations, policy adjustments, time changes, etc. can add hours upon hours to the payroll preparation process. It’s important that you choose a system that will be able to manage all of these aspects easily and effectively.
4. Eliminating what we call Buddy Punching
Several businesses are not aware about the common problem formerly named the “Buddy Punching”. This problem is simply one or more employees clocking in for one another. This is commonly done with manual punch clock systems, badge systems and computer systems where the information is easily available to other employees. Commonly, when one employee is running late or not physically at work, they will communicate with another employee to clock them in fraudulently.
5. Detailed Analytics and Reporting
Reporting of labor data is extremely important in any business and having to run reports yourself on a regular basis can become time consuming. In fact, it can take an average supervisor over 30 minutes a day to log in, configure the report and then print it. Even more time is used if it has to be emailed to multiple people. To avoid this time killer, choose a system that allows you to pre-configure reports in addition to being able to automatically email them to anyone at any time on a regularly scheduled basis. This can be especially helpful if they are emailed before supervisors and administrators come in to work, making it the first thing they see and address. In addition, reports need to be able to accomplish complex analysis in an easy to read report. While you should definitely make sure that the system you purchase provides the reports you need, it’s important to make sure that you are getting analysis, even on things you don’t currently track but may need to be tracking.