Benefits of Workforce Management
The general term “workforce management” can mean many things to employers and employees. But within the context of HR solutions and technology, workforce management can carry a more specific meaning that connects directly to workforce planning and tracking, including tools such as employee scheduling software and time and attendance systems. We often hear the term Human Capital Management used similarly or almost synonymously. However, workforce management is perhaps better described as a sub-set of the broader Human Capital Management category and technology.
There is likely no tool available to employers that is more effective in maximizing your workforce investment than workforce management software. For many employers, their workforce is their single, greatest expense. For most organizations, salaries, benefits, employee-related administration, training and managerial efforts are among the greatest investments they’ll make. And in most cases, the workforce is also their greatest asset in producing value and revenue. For these reasons, it is critical that employers maximize the output while minimizing the cost of this tremendous resource.
But tracking employee time, output, engagement and performance hasn’t always been feasible or cost effective, particularly in the realm of employee time and attendance. With remote, in-the-field, and many varieties of work types, for years tracking employee time and schedules in detail wasn’t cost-effective.
Today, this problem is solved, and the opposite is true. The cost of not accurately tracking employee schedules and hours is significant for those who are not yet utilizing workforce management software, time and attendance, or advanced scheduling software. While basic Employee Time Clock Software can address much of this need, a fully integrated workforce management solution that is connected to other critical HR software is essential.
Here's how workforce management can benefit your company:
Control, optimize and reduce your cost of labor
The importance of this benefit can’t be understated. Today’s time and attendance solutions enable employers to eliminate employee punch rounding (in the employee’s favor), employee buddy punching, and reduce overtime, paid late arrivals, early departures and extended breaks. There are numerous sources for employers to save on labor simply (and conveniently) by tracking employee time to the minute.
Reduce administrative time and cost for HR
Managing employee pay is a time-intensive, highly administrative process. Today, through human capital management software that combines payroll, time and attendance tracking, HR, benefits and many other tools into a single platform, processing payroll is far easier. Through workforce management tools, HR can cut hours of administration and difficulty from the payroll preparation while also reducing mistakes.
Increase employee productivity
When employers and employees are given the tools to more conveniently measure and manage their time, that’s exactly what happens. Employers benefits from reduced absences, late arrivals, early departures, extended lunch and breaks, and fraudulent punching. Employees benefit from great visibility and control over their schedule and clear guidelines on how to account for and get paid for their time. Organizations are also able to better identify high cost and activities and adjust labor as needed.
Reduce administrative time for supervisors
Whether it’s creating and adjusting employee schedules, managing the disruption of absenteeism, approving time off requests, reviewing time cards, fixing time card exceptions, and otherwise, it’s very common for supervisors to either ignore these important tasks or spend too much time keeping up. But an online time and attendance solution can reduce all these steps from hours to minutes. Eliminate hours of administration for your supervisors each pay period through workforce management technology.
Minimize Compliance Risk
The risk of non-compliance seems to only increase with time. A time and attendance system is one of the best defenses against this. Much of the risk relates to how employers record employee hours and manage meal and break periods. The Department of Labor, among other departments both at the federal and state level, are charged with ensuring employees are appropriately paid for time worked. Penalties and back wages are awarded on a continual basis for employers who have not properly addressed their wage and hour compliance and risk. Even a world-class organization such as Apple, which recently incurred penalties in California relating to improper pay for meal breaks, can be at risk. Take the simple step to protect your organization through a time and attendance tracking solution.
Our Workforce Ready software is an exceptional tool for employers. Contact one of our Human Capital Management specialist's to learn more about increasing the output of your workforce while minimizing the cost.
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