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5 Ways Workforce Management Technology Can Reduce Costs & Increase Productivity

If you’re wondering why your employees aren’t as productive as you’d like, or your bottom line isn’t as healthy as it should be, it could be because you’re not managing your workforce appropriately. It’s an easy mistake to make, especially if you don’t have workforce management technology in place. Businesses with workforce management technology can improve payroll accuracy and free up staff from administrative tasks so they can focus on business outcomes. This helps increase productivity and contribute to the bottom line.

Manual workforce management can leave you open to data inaccuracies and provide little control over regulatory compliance. This can result in overpayments and compliance penalties which can significantly impact the bottom line. Manual processes can also lack clarity and accountability for workers. This can reduce employee productivity and satisfaction.

There are five ways workforce management technology can reduce costs and increase employee productivity:

1. Accurately Calculate Employee Pay Cheques

Workforce management technology can perform complex pay rules and calculate employee cheques accurately. Complex pay rules are difficult to manually calculate and can increase the risk of payroll errors and employee complaints. Automating the process mitigates the risk, and ensures you don’t overpay workers and do comply with the employee awards system.

2. Reduce Administration

Administration can take up a large part of an employee’s working day and reduce their business outputs. Automating administrative processes with workforce management technology can significantly reduce the amount of time spent manually entering and reviewing data. Letting employees serve themselves can reduce the number of queries received by HR and payroll teams. This lets them focus on their core duties.

3. Ensure accurate time clocking

If you rely on manual timekeeping, you may have inflated payroll figures caused by employees estimating their hours worked, or clocking in for absent or late colleagues. Employees can also be frustrated by colleagues that they perceive as less productive. This inaccurate and fraudulent time recording can be costly to the business. Businesses that employ remote staff are particularly vulnerable to fraudulent clocking where the work is never completed. Automated workforce technology can reduce fraudulent clocking by requiring employee verification methods like PIN entry or a badge swipe.

4. Monitor overtime

Overtime hours can help meet business requirements such as a spike in customer demand. However, without proper monitoring, expensive overtime hours can be used unnecessarily. For example, managers often use overtime to cover for work not completed by unproductive or absent staff. Workforce management technology gives you insight into the reasons that overtime hours are being used and can help reduce unnecessary costs.

5. Reduce absenteeism

Unrosterd absences are costly for businesses. HR departments need to spend time on manual administrative tasks to process the employee absence and find replacement staff. Workforce management technology tracks absence patterns and helps to eliminate abuse of time-off rules. It can also make it easier to find available replacement staff. This minimises disruptions to your productivity and bottom line.