Human Resources: Virginia State University Expects to Save $200,000+ Annually with Kronos®

CHELMSFORD, Mass., July 22, 2010 — Virginia State University, based in Petersburg, Virginia, recently selected a workforce management solution from Kronos® Incorporated<http://www.kronos.com/> to control labor costs, minimize compliance risk, and improve productivity. Once fully implemented, the university is expected to save more than $200,000 annually with Kronos, which will help Virginia State University meet its long-term objectives as laid out in its strategic "2020 Vision Plan".
News Facts

*   Virginia State University selected the time and attendance<http://www.kronos.com/time-attendance/time-tracking-software.aspx> solution from Kronos to replace its previous labor intensive and manual timekeeping system for hourly and student employees. The primary drivers of the Kronos selection were the projected immediate and long-term cost savings through automation of critical workforce business processes.
*   Through standardization and automation of the time and attendance process, Kronos will minimize payroll error rate by providing accountability of hours worked, attendance, and leave. Kronos will also prevent buddy punching – the costly act of employees punching in for one another – through built-in biometric technology, and minimize payroll costs resulting from inflated timesheets.
*   Additionally, Kronos will help Virginia State University reduce overtime costs by up to 20 percent annually by allowing managers to have real-time access to time records and staff schedules.
*   Kronos will also automate employee leave requests and provide real-time leave reporting to help ensure accuracy and timeliness of the process and compliance with federal, state, and other labor laws and regulations.
*   Finally, the Kronos solution will reduce the time supervisors and managers spend on manual payroll processing by at least 75 percent and help improve overall workforce productivity.
Supporting Quotes

*   David J. Meadows, vice president, finance and administration, Virginia State University
"We are excited about implementing Kronos as it will help us achieve immediate savings as well as enable us to meet our long-term goals without requiring additional resources. Having a standardized, automated time and attendance system for the entire employee population is definitely a best practice to reign in budgets and achieve broader academic and research goals."
*   Christine Carmichael, director of public sector marketing, Kronos
"Higher education budgets are expected to be tight in the next few years and labor related costs can be as much as 80 percent of a university’s operating expenses. Progressive organizations such as Virginia State University are taking the right steps to control this expense by minimizing payroll errors and redundancies. This will enable the university to continue to invest in academics and research even if budgets continue to be tight."
Supporting Resources

*   About Virginia State University<http://www.vsu.edu/>.
About Kronos Incorporated
Kronos is the global leader in workforce management solutions that enable organizations to control labor costs, minimize compliance risk, and improve workforce productivity. Tens of thousands of organizations in 60 countries — including more than half of the Fortune 1000® — use Kronos time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications. To learn how Kronos uniquely delivers complete automation and high-quality information in an easy-to-use solution, visit www.kronos.com<http://www.kronos.com/>.

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