Today’s business environment, irrespective of industry, is fast paced and continually fluctuating. This has made labor management a real challenge for many employers, as it requires a good mixture of performance, monitoring and reporting in a manner that can boost the productivity of the workforce. Below are some ways that businesses can enhance their labor management procedures in a constantly changing world.
Believe it or not, some HR departments are still processing their timesheet records by hand. While this is common among smaller businesses, there are a number of downsides to doing so, and these disadvantages will become more serious as the company grows in size. Below are some reasons why you should phase out manual timesheet records.
Some businesses may be reluctant to switch to an online time and attendance system, particularly those that have been in operation since before the internet was introduced. These businesses typically use traditional clocks where employees have to punch in manually. However, below are some key advantages you will gain by transitioning to the newer web based systems.
Time is without a doubt one of the most valuable resources we have. Many things in life, including money, can be recovered if lost, but once time is gone it is gone forever. Those who want to succeed in life, in any endeavor, must learn to love their time and manage time in the wisest way possible. By doing this you will maximize your success and make life work for you rather than against you.
A time card of some type is a necessity for every business, as you must be able to record when your employees punch in and out. The hours they work must also be accurately recorded so it can be sent to the payroll department. In the past, many businesses used analog time cards, but today a growing number of businesses are switching to online time cards.
Work life balance has become an important issue for many employees today. Employers have discovered that poor work life balance is a leading cause of stress and anxiety which erodes the productivity of the workers and in turn reduces the profitability of the company they work for. Companies which utilize tools such as TRAXTimeCard have been found to increase employee productivity while also helping them to achieve better work life balance.
There will be periods where time & labor tracking is a necessity for employees, even when they are paid by salary. Knowing the government rules and standards will better enable employers to utilize time tracking for workers who are non-exempt and exempt.
Employee self-service is a system that ensures that communications are as streamlined as possible. It is a must have component of HRIS, or human resource management systems. Once an employee has signed into their self-service account, they will be able to access data which is related to benefits and taxes. They can also review their paystubs and perform other functions without having to leave their desk.
Time & labor management tools can provide crucial insights in regards to productivity, cost management and compliance. They can also assist you in the establishment of KPIs, or Key Performance Indicators for attendance within your organization. Having access to this information will enable you to make better decisions which are driven by data. The most important metrics to consider are overtime, labor costs, and absences.
Logistics professionals are in a constant search to discover new ways of leveraging their time and labor management system. The capabilities of such systems are increasing while becoming more oriented to both decision support and management. Here are the most important things that a labor management system should provide.