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March 12, 2021 | Time and Attendance | Posted by Ascentis Thought Leadership

3 Ways Workforce Management Tech Solutions Benefit your Bottom Line

Contrary to what the tech industry might have you believe, technology still isn’t the solution to every issue in the workplace. There’s a reason “human resources” still has the word “human” in it, after all. That said, making smart, strategic use of workforce management (WFM) technology is one of the most effective ways your management team can help a manufacturing business improve the bottom line. We’ve pulled together a few crucial areas where workforce management software can improve productivity, cut labor costs, and boost profits all around.

More efficient scheduling

A poorly considered employee scheduling strategy is one of those costs that sneaks up on an employer. Without a carefully planned approach to allocating hours and skills, a manufacturer can end up with unexpected overtime hours, understaffed or overstaffed shifts, workers trying to fill in for tasks they’re insufficiently trained to perform, and other less-than-ideal scenarios. Those types of scheduling errors add up, not just in terms of payroll, but also in potential injuries, compliance violations, and substandard work quality.

In manufacturing, a workforce management software can help an organization avoid scheduling pitfalls and skills gaps with customizable options that make sure that all shifts are fully staffed with qualified employees before a schedule is approved. Data collected from automated scheduling software makes it easier to identify problem areas such as low productivity or excessive overtime hours. An automated scheduling system with an employee self-service option takes some of the burden off your team and gives managers extra support with time and attendance functions and absence management. It also allows workers to take a more direct role in their own workday by more easily swapping shifts, submitting time-off requests, and viewing schedules remotely. All of this boosts your bottom line by facilitating more productivity and reducing the time your valued employees spend on repetitive day-to-day tasks.

Easier compliance

Compliance with federal, state, and local regulations is a constant concern for WFM professionals. From benefits administration to overtime pay to hiring and termination practices to time off and medical leave policies, workforce management touches on a wide range of heavily regulated areas of employment in the manufacturing industry. The reporting requirements of the Affordable Care Act (ACA), the time-off rules laid out by the Family and Medical Leave Act, and the pay regulations of the Fair Labor Standards Act are all too time-consuming and high-stakes to be managed manually. Add in state and local labor laws, industry-specific regulations, and union requirements, and you have a massive undertaking that makes tech solutions a necessity for any business looking to mitigate the risk of noncompliance.

Employing a customizable workforce management solution to assist with compliance not only reduces an organization’s risk of incurring the fines, penalties, and reputational damage that comes with violations, it can also considerably decrease the workload on administrators. A strong WFM system can automatically generate workforce management reports and check your scheduling, payroll, and time and attendance functions for potential compliance issues. That means that your WFM team does not need to devote their time to managing those concerns by hand, or to tracking down and fixing costly errors after the fact.

Reduced turnover

You’ve probably heard the conventional wisdom that it is almost always less costly to retain an existing employee than it is to hire a new one. That notion holds up no matter what industry you’re working in, but it’s especially relevant to fields with consistently high rates of turnover, such as healthcare, manufacturing, and construction. The costs of bringing on a new worker go well beyond their salary. Your team needs to take into account the costs of recruitment, onboarding, orientation, and training, as well as time spent correcting the inevitable mistakes made by inexperienced workers. For each one of those items your business is spending money to pay not just on the new employee, but also the supervisors and administrators who oversee those processes.

Investing in workforce technology helps cut down on the costs of retention by streamlining recruitment and hiring functions to make sure you’re bringing in qualified, motivated candidates who are more likely to stay with your organization for longer. An automated learning management system makes it easier to provide on-the-job training and certification programs that keep your employees more engaged and give them a path forward in your organization. Reliable communication tools allow employees to make their voices heard, allowing them to express concerns, acknowledge successes, and register complaints that management can use to build a more accommodating workplace. All of these measures contribute to a more harmonious and engaging work environment, which goes a long way toward reducing turnover and keeping high-quality employees in their roles for longer.

By shifting more of your time-consuming and complicated tasks to an automated time and attendance software system, your organization can save time and boost productivity across the board. Find out more about the many workforce management tools Ascentis offers, and how we can help you integrate those solutions into your day-to-day workplace functions.

With more than 35 years of experience in providing Software as a Service (SaaS) solutions, Ascentis thought leaders have become a respected source for insights, tips, and innovations in the Human Capital Management (HCM) space.