Business owners don’t always look to the HR department for superhuman cost-cutting. But there has never been a better time to do it. HR managers can save business owners big money with the right tools.
Swipeclock Workforce Management Suite from Horizon Payroll Solutions has those tools. Reduce labor expenses without sacrificing anything. Not productivity. Not employee morale. Quite the contrary—it saves money and boosts morale at the same time. (I didn’t say it had superpowers for nothing!)
I Decimate Labor Costs. What’s Your Superpower?
Swipeclock Workforce Management Suite saves money by reducing labor costs. Since a large part of your budget is spent on wages and benefits, it’s a logical place to cut the fat. Let’s look at three ways Swipeclock Workforce Management Suite cuts labor costs.
Stop Time Theft In A Single Bound
Employee time theft can cripple labor budgets. But with Swipeclock Workforce Management Suite and a biometric time clock, it can be virtually eliminated. When an employee misrepresents more hours than actually worked, he or she steals time. There are several different methods:
- Padding hours on a paper timesheet
- Clocking in earlier than authorized
- Clocking out later than authorized
- Failing to clock out for unpaid breaks and meals
- A co-worker punching in for an employee who is not working
Employees can steal time with any system that doesn’t have safeguards. With an automated system, it can be done by punching in earlier or punching out later than authorized. This extends the shift longer than authorized by the employer or manager.
Employees can buddy punch by sharing their system pass codes, swipe cards, or fobs. Early punch ins and late punch outs are the “Latte Factor” of wage theft. That $8 timesheet padding adds up when committed by many workers daily.
A buddy puncher is a burglar who steals your 75-inch flat screen while you are in the other room. A couple of buddy punchers can really wreck your labor budget—even if they only do it a couple times a month.
The schedule enforcement tools in Swipeclock Workforce Management Suite let supervisors block unauthorized punches. A biometric time clock requires a biological identifier that personnel cannot counterfeit.
Cut Overtime Faster Than A Speeding Bullet
The average small organization can save $18,700 in overtime expenses with the overtime tools in Swipeclock Workforce Management Suite.
- Set auto-alerts for straight time hours thresholds
- Find best-fit straight time employees to take over when overtime employees punch out
- Forecasting tools help supervisors design schedules that limit overtime without sacrificing productivity
Lower Employee Attrition
There is no downside to reducing employee attrition. It saves money while increasing the experience level of your workforce. This, in turns, boosts productivity and workforce proficiency.
This is from the Center for American Progress:
“The cost of turnover for positions earning less than $30,000 annually is 16 percent of an employee’s annual salary.” https://www.americanprogress.org/wp-content/uploads/2012/11/CostofTurnover.pdf
Why do employees quit? The inability to control their schedule is a big reason. Burnout due to understaffed shifts is another.
Overstaffing can drive workers away, also. It leads to low commissions for hourly+commission positions. It often leads to boredom for call center agents and production workers
Swipeclock Workforce Management Suite Solves Scheduling Problems That Increase Turnover
Swipeclock Workforce Management Suite with TimeSimplicity completely transforms your schedule management. Not only will you create schedules faster and easier—you will be able to reduce labor costs with smarter scheduling. Forecasting tools help schedulers minimize over- and understaffing. When there is an unexpected coverage gap, you will be able to fill it quickly with the most appropriate employee.
Let Employees Handle Shift Trades
The online shift trade board gives staff members more control over their schedule. They are able to easily trade shifts and pick up additional hours. And they can do it all from any location with a mobile device.
Horizon Payroll Solutions offers WorkforceHUB, the Human Resources Management System (HRMS) that makes it easy to optimize the performance of your supervisors, employees, and company workflows.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, TimeWorks Mobile, and ApplicantStack. We’ve just added applicant tracking, onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB was developed for busy employers like you who need to reduce cost-per-hire, streamline scheduling, automate time tracking, maintain regulatory compliance, and lower labor costs.
How much can you save? Check our Horizon Payroll Solutions ROI Calculator.
We can get you up and running with WorkforceHUB immediately. Contact us today to book a demo.