A recent article in the Toronto Star newspaper, based, on a blitz by the Ontario Ministry of Labour into workplace violations by some companies, revealed, that a staggering number of these violations had to do with poor record-keeping, unpaid overtime and holiday pay. The issue of unpaid overtime is one that has lingered over some companies for the past several years. ATS cloud-based time and attendance was designed with built-in Canadian work-rules, can be deployed in only a matter of weeks and will help your company eradicate manual paper-based time tracking. And the best part, overtime is tracked and paid in accordance with jurisdictional pay policies.
If your company is considering deploying a time and attendance solution but remain ambivalent about its advantages, below, is a list of the three top benefits of an ATS time and attendance solution:
Reducing costly calculation errors is just one reason to consider automating time and attendance management. Recent surveys from Aberdeen, Canadian Payroll (CPA) and American Payroll Association (APA), report that human error in manual time-card calculations is likely to cost a business between one and one-half to eight percent of its gross annual payroll. The manual calculation of employee time sheets takes an average of five minutes of administrative time per time sheet, equating to a loss of more than eight hours of productive time per pay period for an organization with 100 employees. These are alarming statistics, and frankly, not many companies would want to use valuable resources to track employee time manually, when this time could be spent with their customers, generating revenue.
Reduce Compliance Risk
ATS Time and Attendance has a set of built-in Canadian work rules to ensure pay compliance through automated wage and hour rules. ATS time and attendance will improve transaction times and information access through an intuitive user experience, thus, increasing profit margins while enhancing employee productivity. In other words, the tracking and paying of the appropriate; overtime, vacation, and other time-off request can be managed by our cloud-based time and attendance with ease.
An ATS time and attendance solution provides both direct and indirect investment returns. Automating your time and attendance process results in ongoing cost savings, such as a reduction in human-generated payroll errors, elimination of time theft from “buddy punching” through the use of biometric time clocks and overtime costs, as saved wages from enhanced productivity.
For example, when tracking time manually through spreadsheets or outdated methods, it’s not unusual to have employees claiming missed overtime and hours worked on their pay. Attempting to rectify this issue by counting hours collected on paper time-sheets can lead to additional errors. Perhaps the answer to this prevailing issue; is to automate the collection of employee hours, thereby gaining valuable data analytics, to help your organization, make effective business decisions that impacts, payroll cost and the bottom- line.
Through the use of an ATS robust time and attendance solution, organizations are able to fully automate pay rules, work rules and benefit accrual rules as well as leave management, collective bargaining agreements (CBA), and exception-time (such as overtime) reporting. By having up-to-the-minute access to this information, organizations will gain complete and accurate visibility into their operations, thus, enabling them to meet production, forecasting and scheduling demands and stay compliant with the many federal and provincial, municipal and state laws, as well as company policies.
To learn how ATS time and attendance solution can help your organization keep accurate records of employee hours, pay overtime hours based on company’s pay policies and assign the requisite statutory holiday, you can download the white paper titled “Benefits of an ATS Automated Time and Attendance Solution”. And to view a demonstration, go to our website. To reach one of our account executives, call: (866) 294-2467.