By Oliver Mitchell, ACA
It baffles me that despite all the talk across the globe in recent years of spending cuts, budget constraints, slimming margins and so on, that companies still neglect to consider the effect of properly managing their workforce. To those that have recognised this and are actively engaging in the effective management of their workforce, this blog may not be for you as you’ll have already seen the improvements in workflow processes, employee attendance and often staff morale amongst other things… although by reading on, you may just learn something new or simply reaffirm your decision to implement workforce management tools.
However, for those of you on the fence:
Here’s the simple part! By implementing effective workforce management software, you can determinably set about saving your business money, whether it’s by intelligent management of staffing requirement rosters or real-time monitoring of employee absenteeism and sick leave there is no denying that workforce management software can streamline processes and save time and money. For example, a simple 1% reduction in absenteeism levels in a company with 1,000 employees would purport to save in the region of €350,000 per year. Similarly, reducing overpayment errors by 15 minutes per employee would save approximately €1,000,000 a year. It’s worth pointing out that an effective and top end workforce management solution would only cost a fraction of this, resulting in real, measurable savings that can contribute straight to your bottom line margins.
There are a number of other interesting workings and calculations that you can explore by downloading our free white paper ‘How efficiencies & consolidation could shave up to 5% off your payroll’ here
Of course, without the right tools in place, it’s impossible to accurately determine the level of payroll errors and over-staffing within your workplace. By selecting the right workforce management software, you can collate and strategically analyse all the relevant data to enable better decision making and ultimately, operate a more effective and efficient workforce.
Don’t sit on the fence any longer, get in touch with Softworks today to find out more
Thanks for reading!
Further blogs from Oliver Mitchell
- Finance and its role in Workforce Management
- Are you tapping into the potential of your workforce?
- To Clock or not to Clock!