Choosing the Right Time & Labor Management Solution
Payroll is typically an organization's largest expense; therefore companies should invest in a low-cost, low-risk time and labor management system. There are four major components to choosing the right Time and Labor management solution: compliance, cost control, accuracy and efficiency.
This whitepaper provides a checklist of questions to ask your Time and Attendance Solutions provider that addresses features such as:
- Time and Attendance Data Collection to verify that it will be done efficiently and accurately
- Historical Reporting on each employee to allow managers to track employee compliance and exceptions
- Employee Self Service so your HR manager can save time
- Payroll Interfaces to directly transfer payroll hours
- Comprehensive Reporting
- Scheduling to ensure accurate exception reporting
- Vendor Stability and Credibility to ensure the company has a reputable background
- Cost of ownership to account for the cost to use the system, repair it and upgrade it
You will also learn how tracking and managing employee time can reduce payroll costs and eliminate payroll processing errors. Understand the importance of monitoring hours worked, including overtime, and what is required to comply with the Fair Labor Standards Act. After reading this whitepaper, you will be able to answer:
- What are the critical features of a time and attendance product?
- What factors should I consider in my evaluation?
- What questions should I ask to determine the true cost?