Even though Swipeclock Workforce Management Suite is very economical, 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 significant ROI.
Here are 3 vital ways Swipeclock Workforce Management Suite helps businesses limit labor costs:
Employee Time Theft
If you haven’t caught any of your employees 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 staff members, over 30 percent admitted to calculated time theft.1 The two types they indicated specifically are buddy punching and recording inaccurate start and end times.
Buddy punching, recording erroneous 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 working at $10 per hour, that can be a loss of $45 per week.
Minimize Administrative Costs
With pen and paper time cards, your managers spend tedious hours troubleshooting timesheet inaccuracies and then manually slinging the data into the payroll system. When your HR staff can complete payroll in minutes, they are free to work on business initiatives that have a bigger payoff. Overtime policing can also be time-consuming, which leads us to number 3:
Limit Expensive Overtime
Companies that mismanage overtime for hourly employees can really take a financial hit. Pen and paper timekeeping systems don’t have built-in notifications to alert managers when associates are approaching or have exceeded their authorized hours. The larger your business, the more last-minute overtime costs you. Swipeclock Workforce Management Suite customizable overtime warnings are one of the most popular features in our system.
Swipeclock Workforce Management Suite will rapidly pay for itself and continue to save on labor outlays 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
Horizon Payroll Solutions offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and organization.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is established 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 Horizon Payroll Solutions ROI Calculator.
We can get you up and running with Swipeclock Workforce Management Suite in minutes. Contact us today to schedule a demo.