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Time is money!
In today’s competitive marketplace, every dollar counts.
Tracking employee time is unfortunately treated as an afterthought at many organizations. However, your choice of time and attendance tracking solution can have a significant impact on workforce efficiency, compliance risk and organizational profitability.
Efficiency: For many businesses, increasing efficiency and improving labor utilization are not simply “nice to do,” they’re a matter of business survival. Accurately measuring employee work time allows you to calculate workforce utilization, efficiently schedule your labor force, and control unnecessary overtime.
Risk: The Fair Labor Standards Act requires you to accurately record the work hours for overtime-eligible employees (both hourly and salaried). Failure to do so can lead to budget-busting fines and penalties. Wage and hour related lawsuits make up the largest and fastest-growing segment of employment law. Maintaining reliable and accurate employee time records helps protect against both costly lawsuits and adverse Department of Labor audits.
Profitability: Labor is typically the largest cost component for many businesses. Every day, organizations everywhere lose money to “time theft.” Employees arrive late, leave early and take longer breaks than they should. Even a few minutes a day per worker can add up to thousands of dollars in wages paid to employees for time they are NOT working. A time and attendance tracking system, properly installed and regularly used, can greatly reduce or even eliminate “time theft.”
In this lively session, we will discuss the various time tracking methods available, their impact on your business and how to select the right workforce management solution for you. We’ll also offer tips for best practices to ensure a smooth implementation and maximize the effectiveness of a new system.
Technologies for tracking employee time and attendance.
How to choose best system for your business from a wide range of options.
Impact these choices can have on your company's profits, labor costs and risk management.
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