This question always gets a defensive response when our account executives are engaged with prospective customers. One of the most common responses is: “Of course, we know our payroll costs. We get reports once a week from our payroll software.” If your company’s measuring its payroll costs on a weekly or monthly basis, chances are you do not have the right tools in place to help you stay competitive.
Today’s businesses need to be agile, flexible and responsive. Using paper time cards to track employees’ time is one of the best ways to accumulate inaccurate data. ATS time and attendance provides a full set of tools to help you forecast, record, track and control your payroll costs. We ensure visibility throughout your entire organization and provide a full integration with other systems that helps departmental managers get on-the-spot business intelligence data. Here are three ways in which an ATS employee time management solution can streamline payroll costs:
Improve operational efficiencies-Traditional methods of collecting employee time through time cards can lead to manual errors and employees either getting over or under paid. In contrast, using a 21st century time and attendance solution can significantly reduce efficiencies throughout the enterprise, affecting manufacturing line workers as well as plant managers and administrators. Time consuming manual business processes silently erode worker effectiveness.
Cost control and tracking – Enables the capture, tracking and analyzing of project tracking activities and highlights profitability in real-time. ATS TimeWork provides expected versus actual costs for job costing, overtime equalization and workforce absence requests data is easily extracted for regulatory reporting requirements.
Workforce planning and employee scheduling – ATS workforce scheduling provides proper execution of re-scheduling activities when business priorities and plans change. ATS workforce management scheduling allows for optimized scheduling utilizing demand forecasts, employee skills data and labor standards; individual and team performance tracking (with identification of training needs); and incentive calculations determined by client rules and governmental regulations.
So the question remains, why don’t more of today’s businesses track their labour costs in real time? One of the most common answers given by companies, is that such a system would be very costly, take too long to implement or that it would not fit with their corporate culture. When you consider how the 2008 global recession impacted many businesses, in particular the manufacturing sector, controlling labour costs should not be an afterthought.
To get a free copy of our ROI on the implementation of a time and attendance solution, call us at 866.294.2467. To view a demonstration, go to our website and to join the conversation, join us on LinkedIn or on Twitter.