Recording time is time-consuming, especially if handled manually or in multiple systems. The time involved in filling out, collecting, and verifying the accuracy of timesheets, multiplied by the number of hourly employees, multiplied by the number of pay periods, adds up to quite a costly operation. Using an electronic time and attendance system that helps automate labor allocations and flows seamlessly into payroll can vastly help in this area.
Training isn’t just for new hires. Providing ongoing learning and development opportunities is also important for all of your employees, as well as checking in on their progress regularly to manage and review their performance. If you don’t have a learning management and performance review system that tie directly to the employee file, this may be an area that increases costs at your organization.
Benefits administration involves communicating benefit options to employees, recording employee elections, ensuring eligibility, and calculating deductions from payroll. Paid time off is a specific benefit that often requires tracking and managing per employee, per request off. This often requires complex calculations that need to be made in a timely manner, and inaccuracies can quickly cause compliance issues.
Hiring a new employee is an exciting time for your organization, but it also entails collecting I-9s, W-4s, credentials, direct deposit information, and other employee documents. These documents must then be maintained and updated as needed over time. When an employee separates for your organization, this also requires its own set of paperwork to process and triggers the need to onboard a new employee all over again.