eliminate time-entry mistakes - workforce software · 5aberdeen group, “improving productivity...

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Contact WorkForce Software at +1 877 493 6723 or visit workforcesoftware.com to learn how our automated workforce management solutions can help boost payroll accuracy and manage your labor spend more effectively. 1 Human Capital Management Institute, “Managing an Organization’s Biggest Cost: The Workforce” 2 As cited by Mie-yun Lee in "Stop wasting time with paper; create an attendance system" 3 WorkForce Software and Workforce, "2015-2016 Workforce Management Trend Survey" 4 Staffing Industry Analysts, “Federal Wage and Hour Lawsuits Up 8% to Record High, Firm Finds” 5 Aberdeen Group, “Improving Productivity and Reducing Labor Costs with Automated Absence Management” 6 Nucleus Research, "Automating Time and Attendance With Biometrics Reduces Payroll Error and Boosts Productivity" 7 Nucleus Research, “Leave Management: Cutting Labor Costs” 8:02 8:05 8:10 8:03 8:05 8:05am 1 2 3 5 6 4 Eliminate time-entry mistakes We’re only human, and manual processes have a higher margin of error. Mistakes include misreading handwritten time data, keystroke errors, and rounding errors. • Manual processes account for payroll error rates as high as 8% 2 48% of organizations only learn about payroll errors when an employee complains 3 Prevent calculation errors Common missteps include noncompliance with national/ local wage and hour laws, overtime calculation errors, and miscalculating gross pay. Errors cost more than money: Federal wage-and- hour lawsuits reached an all-time high in 2015 4 • Automated workforce management drives over- time costs down by 19% 5 Track time-off accruals Could your employees be taking more vacation time than they’ve earned? Empower your team to track their own accrual balances with real-time visibility. • Employee absence costs organizations approximately 75% of replaced workers’ salaries 5 • Without an absence management solution, the average employee takes an additional 1.25 days off 7 Stop intentional time theft … such as ‘buddy punching,’ when employees clock in for their friends who are not present. 3 out of 4 companies experience loss from buddy punching 6 • Buddy punching costs organizations > 2% of gross payroll 7 When employee salaries account for as much as 70% of an organization’s operating costs 1 , there’s no room for expensive errors. Here are 4 ways to boost payroll accuracy across your organization: 324

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Page 1: Eliminate time-entry mistakes - WorkForce Software · 5Aberdeen Group, “Improving Productivity and Reducing Labor Costs with Automated Absence Management ... Here are 4 ways to

Contact WorkForce Software at +1 877 493 6723 or visit workforcesoftware.com to learn how our automated workforce management solutions can help boost payroll accuracy and manage your labor spend more effectively.

1Human Capital Management Institute, “Managing an Organization’s Biggest Cost: The Workforce” 2As cited by Mie-yun Lee in "Stop wasting time with paper; create an attendance system"3WorkForce Software and Workforce, "2015-2016 Workforce Management Trend Survey" 4Staffing Industry Analysts, “Federal Wage and Hour Lawsuits Up 8% to Record High, Firm Finds” 5Aberdeen Group, “Improving Productivity and Reducing Labor Costs with Automated Absence Management”6Nucleus Research, "Automating Time and Attendance With Biometrics Reduces Payroll Error and Boosts Productivity" 7Nucleus Research, “Leave Management: Cutting Labor Costs”

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Eliminate time-entry mistakesWe’re only human, and manual processes have a higher margin of error. Mistakes include misreading handwritten time data, keystroke errors, and rounding errors.

• Manual processes account for payroll error rates as high as 8%2

• 48% of organizations only learn about payroll errors when an employee complains3

Prevent calculation errorsCommon missteps include noncompliance with national/ local wage and hour laws, overtime calculation errors, and miscalculating gross pay.

• Errors cost more than money: Federal wage-and- hour lawsuits reached an all-time high in 20154

• Automated workforce management drives over- time costs down by 19%5

Track time-off accrualsCould your employees be taking more vacation time than they’ve earned? Empower your team to track their own accrual balances with real-time visibility.

• Employee absence costs organizations approximately 75% of replaced workers’ salaries5

• Without an absence management solution, the average employee takes an additional 1.25 days off7

Stop intentional time theft… such as ‘buddy punching,’ when employees clock in for their friends who are not present.

• 3 out of 4 companies experience loss from buddy punching6

• Buddy punching costs organizations > 2% of gross payroll7

When employee salaries account for as much as 70% of an organization’s operating costs1, there’s no room for expensive errors. Here are 4 ways to boost payroll accuracy across your organization:

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