How automated systems maximise workforce management ROI
Employees represent 70 percent of an average organisation’s total operating costs. Facility management businesses looking to manage this expense more tightly should turn to automated workforce management systems to strategically manage staff spend and gain a higher return on investment (ROI).
Time and attendance tracking, workforce scheduling, leave management, workforce analytics and fatigue management should all be automated. Even by conservative estimates, a successful workforce management project can save a business millions in annual recurring expenses, freeing up budget for other strategic initiatives. There are six ways automated systems can maximise a facility management business’ return on workforce management investment:
1. CONTROL COSTS
Automated systems can capture, combine and analyse data on workforce scheduling and staff activities, and other enterprise systems, such as financial applications. This deep analysis can provide detailed snapshots of business processes and help identify best practices.
Visual reports make it easy for businesses to identify patterns in organisational processes and outputs, and put them into action. This lets companies better assess how current practices need to change to meet business goals.
Real-time visibility into workforce capacity and deployment can help managers identify where they can implement cost-saving measures more quickly. Automated systems can significantly improve labour costs and drive total overtime costs down by 19 percent.
2. INCREASE EFFICIENCIES
Data analytics can help businesses make better informed decisions. Data offers unbiased insights and reduces the influence of human emotion in workforce management. The depth of insights delivered by analytics tools grows as data is continuously captured by automated systems. Businesses should start to implement workforce management analytics as soon as possible to achieve a competitive advantage.
Eliminating manual processes can reduce errors in pay calculation and data collection, and help organisations to quickly process accurate retroactive calculations. Automated systems with self-service tools let employees manage their own shifts and time off. This helps to reduce administrative task workloads for HR (human resource) teams.
3. BOOST MORALE
New research from LinkedIn shows that many Australians who leave their job do so because they are unsatisfied with management. Workforce management software can improve management processes and help prevent valuable employees from leaving.
Understanding employee preferences and customer demand patterns can also help the business improve scheduling. An automated workforce management system makes it easy to get a clear view of each person’s preferences and managers can make rostering decisions accordingly. Balancing the demands of customers and employees improves satisfaction, which is linked to the bottom line.
Organisations with automated systems can promote work-life balance by giving employees real-time visibility into time-off accruals, and letting them bid for and swap shifts. When employees feel more in control of their own destiny, it makes them feel as though management is doing a better job.
This leads to less chance of a valuable employee moving on, and can actually increase loyalty and longevity among staff. In an environment where some skills are at a premium, this can provide a competitive edge for many organisations, as well as reducing the costs associated with replacing experienced staff members.
4. SIMPLIFY COMPLIANCE
Automated systems manage a full range of national and local wage laws, leave regulations, union rules, corporate policies and regulations specific to an organisation’s industry. This helps to reduce human error in keeping records up-to-date and reduces compliance risks.
Using an automated workforce management system means businesses have a clear audit trail and proof of how employees have been treated. It also means that businesses are less likely to make mistakes, for example, when ensuring staff have adequate time off and are rostered fairly.
5. EXTEND THE VALUE
Organisations that integrate the real-time data from automated workforce systems with existing technologies, such as enterprise resource planning (ERP) and payroll systems, will gain maximum value for their investment. Sharing workforce management data with other applications can give the organisation deeper insights into workforce trends and help to drive processing efficiencies.
6. SAVE TIME AND MONEY
Workforce management technology can free up time and money from human resources departments. When it
is delivered as a cloud-based service, it can also reduce organisational overheads relating to hosting and IT maintenance, so it can save a business even more time and money. Cloud-based solutions also ensure organisations remain up-to-date via incremental updates.
To maximise investment in workforce management, facility management businesses should consider the strategic role technology is able to play. Having an automated, cloud-based workforce management system in place can significantly reduce costs and increase value for businesses, giving them a competitive edge.