3. Reduce Employee Turnover
Employee turnover accounts for a significant portion of labor costs. Turnover costs not only apply to worker wages but also hundreds of hours that are spent on sourcing, hiring, and onboarding new employees.
The average business spends $110,000 to replace a mid-level employee with an annual salary of $80,000. By reducing turnover and retaining talent, companies will cut a dramatic portion of their labor costs.
Having an easy to use workforce management system keeps employees engaged, especially when they can request for time off or additional shifts and get responses in real time with the InfiniTime messaging system.
4. Automate Redundant Tasks
Automating redundant tasks lowers labor costs while improving efficiency and quality. As computer software becomes more robust and less expensive, companies need to empower employees with these tools. Payroll processing is one job function with a copious amount of tasks that can be automated.
While investing in software appears to be just an additional labor cost, in the long-run, this investment will pay off, as the tools will speed up and simplify the work. Companies see an ROI within the first 3 months of use. There is no more dual entry. Errors in scheduling, calculating hours accrued, and job costing are eliminated. There is less need for overtime and employees will appreciate being relieved of dull, manual tasks.