Improving Productivity with Automated Time and Attendance
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According to the US Labor Department and national economists, American businesses are failing to increase their productivity, and in some cases, the rate of our productivity is actually dropping. While the American workforce is taking on more than it ever has before, businesses are quite simply not yielding as much as they can given their workforce resources. Studies have shown that implementing automated time and attendance is one of the most effective solutions for increased workforce capacity, and therefore increased profits. In this informative webinar from cloud-based time and attendance thought leader nettime solutions, participants will better understand some of the hidden costs that exist in manual payroll management, while learning how the latest in automated time and attendance technologies can improve their workforce productivity.
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Improving Productivity with Automated Time and Attendance
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Editor's Notes
- Thank you for joining us for “Improving Productivity with Automated Time & Attendance.” Attendees are still gathering, so we’ll begin in just a few minutes. Welcome to “Improving Productivity with Automated Time & Attendance.” This webinar will be recorded and emailed to all registrants, and it will also be available online.
- In today’s webinar, we’ll first take a look at why improving productivity matters when it comes to time and attendance. Next, we’ll explore a client case study in which a company transitioned from a manual payroll process to an automated time and attendance system, and what kind of impact that transition had on their company. We’ll then take a closer look at the specific features that exist within an automated time and attendance system that will make your employees more productive, and finally we’ll close with Q and A.
- For businesses to truly have a competitive edge, they need both visibility into AND efficient management of their workforce. For example, if you manage a group of people, then you’ve probably thought, ‘My employees seem busy all day long, but I’m not really sure what they are specifically working on,’ or ‘I’m not sure if my team has the capacity to take on yet another project.’ As the former manager of a large, multi-city department where I had 50% of my staff working out of a satellite office, I frequently struggled with the time management aspect of my department. While we had weekly department meetings and regular check-ins where the team could provide feedback on what’s happening in the weeks and months ahead, I was really unable to see precisely where my team was spending their time. This information would have been extremely valuable in managing the team’s workload as it related to some of our long-range initiative and short-term objectives.
- Where can we glean insight into true workforce data? And, how does time and attendance come into play? In organizations that use automated time and attendance, 72% of the employees rate themselves as being highly engaged. These companies also experience an 11% increase in workforce capacity utilization. Meanwhile, when time and attendance solutions are integrated with payroll, payroll processing error rates drop by 30% and time tracking errors decrease by 32%.
- In fact, the need to improve overall workforce productivity through better labor management has been cited as one of the top two business pressures in the US last year. Why? To start, unplanned absences cause an 11% decrease in productivity, and fraudulent time clock usage can cost businesses up to 5% of their gross payroll every year.
- According to a Human Capital Management Trends study from Aberdeen Group, HR and IT departments cite time spent on tactical activities as the number one barrier to being a more strategic partner to the business.
- How do traditional time and attendance procedures — such as those involving paper timesheets and punch cards — affect your organization’s operational efficiency, HR effectiveness, employee engagement, and overall productivity? I mentioned my former role managing a large, two-city department, and we handled time and attendance in an antiquated manner. All of my employees would (hopefully) fill out the paper timesheet appropriate for their type of employment (whether salaried or hourly) and would submit those timesheets to their respective supervisors. But, as you’ve also likely experienced, people forget or projects get in the way, and supervisors are inevitably then chasing down those paper timecards. They then had to be checked for errors (including calculating all time assignments), and all timesheets were signed before being submitted to me as the department director. And, if this doesn’t sound complicated enough, with the two-city split, I had supervisors sending me timesheets via email, fax and interoffice mail. This is only the beginning of the process, but you can already begin to see how this traditional time and attendance procedure was affecting my productivity as a department director and impacting the organization’s overall productivity and profitability.
- This regional transit company had roughly 200 employees — both hourly and salaried personnel. Prior to automating their time and attendance, their employees’ hours were tracked in an Excel timesheet. Then, supervisors manually checked their employees’ coding to ensure that employees coded their hours to the correct projects. And, any overtime hours already served would be manually calculated during this check point.
- The company’s bi-weekly payroll process used to span 5 solid days, with one full day of inputting hours into their payroll system. One employee was dedicated solely to payroll for the company’s 200 employees. The process was extremely interrupted as there was a great deal of back and forth between the payroll manager and the company supervisors.
- So, what happened afterthis transit company automated their time and attendance?
- The company’s payroll process now takes half the amount of time it used to. Instead of one employee spending an entire workday inputting hours in the payroll system, all data is now exported in just 5 minutes. And, where before supervisors and the payroll department experienced a lot of interrupted back and forth during the payroll process, now those supervisors are taking an active role by correcting errors and making adjustments as they occur, rather than a week and a half after the fact.
- Remember that employee who solely managed the company’s payroll? That was her entire job, but now that the company has implemented automated time and attendance, she’s been able to take on additional administrative duties with the time she’s saved throughout her workday.
- And supervisors can now analyze payroll trends to make informed decisions for the future …
- Meanwhile, the company’s HR and IT managers can focus on the company’s strategic initiatives.
- (Pass to Bahan)Let’s explore some of the key features of an automated time and attendance system that make the roles within your organization more productive
- Did you know that companies that use employee scheduling software experience 58% LESS un-planned overtime than other companies?
- How long does it typically take to implement a system like this?How much does it cost?How long are your contracts?What is the long-term ROI?
- Thank you for joining nettime solutions for “improving Productivity with Automated Time and Attendance.” If you’d like to learn more about stratustime and see if it’s the right automated time and attendance system for your organization, give us a call at 1-800-561-6366 or visit us online at nettimesolutions.com to request a customized demonstration.