Labor is one of a company's largest expenses. Fortunately, it is a controllable expense, especially if you use an automated time and attendance solution to track and schedule your workforce.
The Labor Management Institute (LMI) is a leading research, education and consulting organization for time and labor management, productivity optimization and scheduling automation in organizations of all sizes and industries for the past 30 years. In this new white paper, LMI founder and president ChrysMarie Suby shares insights on the correlations in worked and non-worked time that contribute to the abuse of labor hours. and lays out 10 best practices to help avoid extra and unnecessary overtime, conflicts between practice and policy, cost overruns, and adverse outcomes to employees and customers.
You will learn:
- Why all overtime is not created equal - and how to spot the difference
- How staffing ratios for part-time and full time employees impact overtime - and what ratio you should maintain for maximum efficiency
- 10 critical indicators you should monitor for effective labor cost control
- and more!
Organizations leave themselves vulnerable to missed opportunities and risk without tools and processes to track time and attendance activity. The right time and attendance solution can help organizations operate more efficiently and effectively by having the right employees in the right place at the right time for the right cost and in ways that engage both employees and customers. Automating time and attendance processes and implementing these best practices in your organization can help payroll, HR, and time and attendance professionals make better decisions related to variable workload, labor shortages, employee competencies and skill shortages while adhering to organizational budgets.
Download your complimentary white paper today and contact your local ADP representative to learn more about ADP's Time & Attendance solutions.