Business owners don’t always look to the HR department for superhuman cost-cutting. But there has never been a better time to do it. HR managers can save business owners big money with the right tools.
Workforce Management Suite from ICON, Inc. has those tools. Reduce labor expenses without sacrificing anything. Not productivity. Not employee morale. Quite the contrary—it saves money and boosts morale at the same time. (I didn’t say it had superpowers for nothing!)
I Decimate Labor Costs. What’s Your Superpower?
Workforce Management Suite saves money by reducing labor costs. Since a large part of your budget is spent on wages and benefits, it’s a logical place to cut the fat. Let’s look at three ways Workforce Management Suite cuts labor costs.
Workforce Management Suite Eliminates Time Theft
Employee time theft can cripple labor budgets. But with Workforce Management Suite and a biometric time clock, it can be virtually eliminated. When an employee misrepresents more hours than actually worked, he or she steals time. There are several different methods:
- Padding hours on a paper timesheet
- Clocking in earlier than authorized
- Clocking out later than authorized
- Failing to clock out for unpaid breaks and meals
- A co-worker punching in for an employee who is not working
Employees can steal time with any system that doesn’t have safeguards. With an automated system, it can be done by punching in earlier or punching out later than authorized. This extends the shift longer than authorized by the employer or manager.
Employees can buddy punch for a friend by sharing passwords and prox cards. Early punch ins and late punch outs are the “Latte Factor” of wage theft. That $8 timesheet padding adds up when committed by many workers daily.
A buddy puncher is a burglar who steals your 75-inch flat screen while you are in the other room. A couple of buddy punchers can really wreck your labor budget—even if they only do it a couple times a month.
The schedule enforcement tools in Workforce Management Suite let supervisors block unauthorized punches. A biometric time clock requires a biological identifier that staff members cannot counterfeit.
Stop Paying Too Much Overtime
The average small organization can save $18,700 in overtime expenses with the overtime tools in Workforce Management Suite.
- Set auto-alerts for straight time hours thresholds
- Find best-fit straight time employees to take over when overtime employees punch out
- Forecasting tools help supervisors design schedules that limit overtime without sacrificing productivity
There is no downside to reducing employee attrition. It saves money while increasing the experience level of your workforce. This, in turns, boosts productivity and workforce proficiency.
This is from the Center for American Progress:
“The cost of turnover for positions earning less than $30,000 annually is 16 percent of an employee’s annual salary.” https://www.americanprogress.org/wp-content/uploads/2012/11/CostofTurnover.pdf
Why do employees quit? The inability to control their schedule is a big reason. Burnout due to understaffed shifts is another.
Overstaffing can drive workers away, also. It leads to low commissions for hourly+commission positions. It often leads to boredom for call center agents and production workers
Workforce Management Suite Solves Scheduling Problems That Increase Turnover
Workforce Management Suite with TimeSimplicity completely transforms your schedule management. Not only will you create schedules faster and easier—you will be able to reduce labor costs with smarter scheduling. Forecasting tools help schedulers minimize over- and understaffing. When there is an unexpected coverage gap, you will be able to fill it quickly with the most appropriate employee.
Let Employees Handle Shift Trades
The online shift trade board gives employees more control over their schedule. They are able to easily swap shifts and pick up additional hours. And they can do it all from any location with a mobile device.
ICON, Inc. offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and company.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, and TimeWorksMobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is developed for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and decrease labor costs.
How much can you save? Check our ICON, Inc. ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to schedule a demo.