THANK YOU FOR SUBSCRIBING
With the workforce management tools, employers and employees can effectively measure and manage their time, which increases their overall productivity. This tool can help employers keep track of absences, early departures, late arrivals, extended lunch and breaks, and fraudulent punching.
Fremont, CA: The term “workforce management” may have different implications for employers and employees. However, within the context of HR solutions and technology, workforce management carries a meaning related to workforce planning and tracking, including tools such as employee scheduling software and time and attendance systems. Workforce management involves efficiently forecasting labor requirements, creating and managing staff schedules to accomplish a particular task on a daily and hourly basis.
Let us look at the key benefits of workforce management:
Increasing Employee Productivity
With the workforce management tools, employers and employees can effectively measure and manage their time, which increases their overall productivity. This tool can help employers keep track of absences, early departures, late arrivals, extended lunch and breaks, and fraudulent punching. Parallelly, employees can benefit from improved visibility and control over their schedule as well as clear guidelines on how to account for and get paid for their time. Organizations are also capable of better identifying high cost and adjust labor as needed.
Reducing Labor Cost
The importance of this benefit can’t be undermined. Time and attendance solutions allow employers to prevent employee buddy punching, employee punch rounding, and reduce overtime, early departures, paid late arrivals, and extended breaks. There are multiple sources for employers to save costs on labor by merely tracking employee time and attendance.
Minimizing Compliance Risk
The risk of non-compliance is increasing with time. An appropriate time and attendance system can help mitigate this risk. Much of the risk is related to how employers record employee hours and manage break periods. The Department of Labor is responsible for ensuring that employees are appropriately paid for time worked. Employers who do not properly address employee wage, time and attendance, are likely to face penalties and back wages, which can put their reputation on the line.
See also: Top Accounting Outsourcing Companies