Whether you run a small, midsize or large organization, chances are, you will be impacted by the proposed minimum wage hike in Ontario and several other jurisdictions across Canada. And, similarly, US businesses are grappling with the same challenges.
As an organization, you have several options at your disposal, and as such, get to decide how to handle a wage hike. For the purpose of this blog, we will discuss two options:
- Decrease your workforce: As a company, you might decide that in order to remain viable the simplest solution is to decrease your number of employees. Another possibility is to simply hire employees on a part-time basis, in the hopes that this will help you decrease payroll costs.
- Raise prices: When payroll and other operational expenses go up, businesses can choose to pass them onto their customers. And, depending on the market and product offered, this can sometimes be a tough pill for customers to swallow, and some of them may end up speaking with their dollars by going elsewhere.
What if instead of loosing sleep (and with good reason) over the wage hike, your company automates manual business processes, thus, enabling employees to work smarter and more efficiently, while keeping your profits intact?
ATS Workforce Management HCM Solution can streamline payroll costs and improve workforce productivity. Some of these solutions include:
ATS Workforce Scheduling for retail, hospitality and healthcare is a robust and powerful solution designed specifically for organizations with hourly paid employees across multiple jurisdictions. ATS Workforce Scheduling uses data from your core business to create real-time analytic reporting and on demand-based schedules avoiding any over or under-staffing.
With ATS Scheduling you can:
- Accurately report key performance indicators (KPIs) such as labour costs, employee attendance and absences, and workforce compliance.
- Align employee schedules to financial budgets, payroll and labour to-sales ratios and the allocation of hours for a single entity or across the organization.
- Improve employee productivity through optimized resourcing, employee and supervisor self-service. Managers can create schedules and send it to employees through interactive dashboards and workflows.
ATS Time and Attendance simplifies the tedious tasks involved with monitoring employee time and attendance, labour tracking, and data collection. That means, if you are using paper timesheets, outdated tracking and spreadsheets, you will likely not save much money unless your time tracking is fully automated. ATS Time and Attendance System — works in tandem with our best-in-class time clock/data collection devices — to help your organization control labour costs, minimize compliance risk, and improve workforce productivity.
Manage overtime costs ATS Time and Attendance helps you account for hours accurately, and minimize overtime to protect your bottom-line. You will have immediate access to employee attendance and get reports, in real-time on overtime trends, tools to manage overtime requests and approvals, and time card review. In other words, this means less administrative burden and fewer errors.
The wage hike is coming and will be felt by organizations and employees alike. If you are looking to improve your employee efficiency, streamline payroll costs, and make better business decisions, ATS Time and Attendance could be the right tool for your organization.