Effective Scheduling Get The Most Out of Your Time...4. Convert to a Point System a Simple and Effective Employee Productivity Tool...

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1 Beyond the Clock

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3 Table of Contents Effective Scheduling Get The Most Out of Your Time...4 ACA Compliance with stratustime Time and Attendance Software...5 Convert to a Point System a Simple and Effective Employee Productivity Tool...6 Improve Your Labor Attendance Through a Mobile Device...7 What Are Employees Worth?...8 Where Spreadsheets Fall Short...9 How Workforce Analytics Can Take You Beyond The Clock...10 Survey Results Reveal Effective Scheduling and Tracking Will Improve Productivity...12 Key Takeaways...14

4 Effective Scheduling Get The Most Out of Your Time Time. We eat, breathe and live time. Whether there isn t enough time or you re counting the hours until a specific time, there is a constant reminder of how important it is in order to stick to a schedule. Schedule being the key word here which is how an organization like yours maintains its production levels in order to sell, distribute, support and process the product or service it offers. As contributors to your company, every single employee s time matters. In order to do all of this, a business must have a good time management process in place to ensure it runs effectively. Depending on the role you play in your company, it s imperative that you stick to your own internal schedule so your projects are completed and the department goals are achieved. To maintain an effective schedule and make the most use of your time, follow this six-step process: 1. Identify your schedule availability 2. Review the priority level of your tasks 3. Based on the level of urgency and the timeline needed to complete your tasks, allocate time on your schedule to complete them 4. Block out daily catch up periods to focus, regroup and/or review items 5. Set your weekly, monthly or quarterly goals on your schedule 6. Analyze your activity efficiently Aside from following this process, it is important to understand what you can realistically achieve with your time. I once read, Everything tracked improves exponentially. What I learned, in layman s terms, is that tracking your projects and goals gives you a better understanding of where progress is being made, where improvement is needed, and what may be worthwhile delegating and/or outsourcing. Move beyond the clock and track your time to ensure you re using it effectively nettime solutions 4

5 ACA Compliance with stratustime Time and Attendance Software How quickly can you accurately determine which employees qualify for health care benefits? If you re still calculating time and attendance on a spreadsheet, you ll want to demo our Affordable Care Act (ACA) module in stratustime. You ll see firsthand how time data is captured in real-time, with no errors from manual entry. Because stratustime is a cloud-based time and attendance software, we can update and reconfigure it to meet today s changing regulatory landscape. With our ACA module, your company can: Monitor employees schedules, time records, eligibility and benefits enrollment with real-time alerts Rapidly compile accurate reports on workforce data, producing comprehensive audits on when and where employees spend time Effectively schedule the right employees at the right times Learn More... Experience nettime solutions ACA webinar to learn how your HR and payroll department will continue to drive your company forward by working on your strategic initiatives instead of spending their days gathering evidence to prove your ACA compliance efforts nettime solutions 5

6 Convert to a Point System a Simple and Effective Employee Productivity Tool On paper, and according to the Black s Law Dictionary, the term employee is defined as a person in the service of another under any contract of hire, express or implied, oral or written, where the employer has the power or right to control and direct the employee in the material details of how the work is to be performed. To be practical, employees are what make, build and grow a business. Meaning, their success equates to a business success. And success, as we know, cannot occur without going through a few rounds of failures. It s a vicious cycle. The question is, how do you do regulate this? From a management perspective, you can regulate your employees productivity levels with an effective point system. An advanced point system will give you the ability to: Address attendance issues Reward and/or deduct points Enforce policies Merging a point system with your time and attendance program encourages your employees to pay attention to their attendance rules and procedures. Rewarding and deducting points also gives you the ability to motivate an employee to stay productive during business hours. Convert to a point system so you can effectively manage employees productivity levels nettime solutions 6

7 Improve Your Labor Attendance Through a Mobile Device With over 450 million mobile workers globally, it is no longer superfluous to have access your labor management systems via a mobile device - it is necessary. Effective communication between employees and managers is essential to resolving tasks quickly and accurately. With advanced time and attendance software that has mobile functionality, you can easily respond to shift requests, PTO requests, and view department schedules and key performance indicators in case you need a quick update on your weekly or monthly statistics. Having this access while you re traveling or are working outside of the office gives you the ability to manage projects while you re on the go. And it s not just built for managers. Employees can: View their time cards Clock in/out Request time off Review and/or assign job costing Notify managers of completed tasks It s time to improve your labor management and get on-the-go access for all of your time reporting and management needs. Upgrade to an advanced time and attendance system that has a mobile interface nettime solutions 7

8 What Are Employees Worth? It s no secret that for the past two centuries, the economy has evolved into a talent-driven, knowledge-based, asset community. To many investors, analysts and even employers, assets are loosely defined into cash flow measurement systems. From a strategic viewpoint, many companies understand the value of human capital and how it lays within the experience and efforts of their employees. How do you measure your employees worth? This can be done through talent measurement scorecards. Scorecards are based on a set of advanced metrics that are linked to financial results that can quantify value creation and/or destruction. Human capital management and workforce analytics can work cohesively together to help quantify an employees worth. What do these measurements look like? The value of an employee is measured by: Mobility What the ratio of promotions to total movements are within the company. This includes transfers, lateral moves, and demotions. Leadership and Management What does your quality of new hires look like? Measure the number of direct reports per manager the lower the number, the higher the costs. Training What is the retention rate of high performing employees before and after training? Performance/Engagement Rate the level of engagement of each employee. Decide what the engagement estimate is worth and how it impacts the employee s performance. Turnover/Retention Calculate your turnover against your employee retention rate. According to Deloitte Consulting, who surveyed a total of 2,572 human resources and non-hr leaders, 38% cited leadership as an urgent priority and 26% revealed retention and engagement was next on their priority list. With these types of figures it s know wonder why well-known companies are seeking to achieve the best places to work votes. Evaluate your workforce analytics to help quantify employees worth with measurement scorecards based on your company s goals and mission statement nettime solutions 8

9 Where Spreadsheets Fall Short Every company s finance team is responsible for creating an accurate forecast. It can be comical watching your finance team race around the office discussing the latest spreadsheet and how it affects the companies forecast agenda. And therein lies the risk. Though valuable, spreadsheets often lack the functionality to automate accounting processes and streamline your budgeting and planning processes. What specific functionalities are missing? Spreadsheets often fall short in two areas: version control and privacy. Version Control Specifics Every time an employee touches a spreadsheet there is a chance an error is made. It s often the case that 10+ employees can access the same spreadsheet, creating opportunity for a huge number of potential errors. This risk is exacerbated by the fact that each one of those errors may go unnoticed. Without a system of checks and balances (otherwise known as quality control), your forecasting budget may be skewed. Privacy Specifics Regardless how thick your firewalls are, spreadsheets still present privacy concerns. Among your payroll, ledger details, and cost of benefits, you don t want any proprietary details of the business out there. You may come across members of your finance team viewing information that don t necessarily need to know it. Having a reliable solution enables your team to collaborate and provide cohesive visibility in real time. Efficient solutions should include: Data that is consolidated across all departments Reports that create income statements categorized by department Dashboard to review balance sheets and cash flow statements Reports that can be used for presentations The ability to view detailed reports for line-level managers Reports that automatically consolidate and save all transactions 2015 nettime solutions 9

10 How Workforce Analytics Can Take You Beyond The Clock Workforce analytics help businesses define, predict, and enhance their performance. When applied to the HR world, workforce analytics help HR staff analyze data relating to productivity levels, performance, training effectiveness, and can even predict turnover. To understand just how significant workforce analytics are in your organization, below are three questions to consider: 1. How can you reduce turnover and increase employee retention? 2. What are you doing to increase employee engagement? 3. Are you addressing your talent gaps? 2015 nettime solutions 10

11 Turnover and retention Though easily measurable, historical data has not always been easy to retrieve or access. In previous years, managers have only been able to deal with situations in a reactive state. An example would be when an employee turns in a resignation and the manager has to reactively figure out how to cover that employee s workload. With workforce analytics, you can understand retention or turnover by proactively evaluating: Hours worked versus time off Salary and benefits Performance Employee level, title, job description and location Recognition or achievements Talent Gaps The talent you hire is going to be the driving force for creating, implementing, selling, maintaining and organizing your business products and/ or services. That is a lot of pressure. Not just from a recruiting perspective, but also for the employee who is ultimately going to drive his/her own projects or activities on a daily basis. You can measure how well an organization is managing their candidate pipeline, by reviewing where your productivity levels are at within the first 6 months of a new hire. New hire metric focus on: Pipeline and success rate Training programs during on-boarding process Hire date, manager, department and location Hours worked both regular and overtime Employee Engagement Engaged employees are committed to your company s values and overall wellbeing. They re productive, high performers can lead even if they re not in a seniority level. Understanding the values of an employee s engagement will help provide insight into overall productivity, retention, skill set and acquisition. Team members who quickly and accurately get the job done, don t require a lot of overtime and stay with the company past their sixth month benchmark are considered to fall into the successful bucket. With workforce analytics, payroll and HR data becomes critical for reviewing business insights. These metrics can help translate and transform your entire organization s performance beyond the clock. These metrics are derived from: Performance Hire date Completed training and certifications Regular hours versus overtime 2015 nettime solutions 11

12 Survey Results Reveal Effective Scheduling and Tracking Will Improve Productivity Time. Whether there isn t enough time or you re counting the hours until a specific time, there is a constant reminder of how important it is in order to stick to a schedule. Depending on the role you play in your company, it s imperative that you stick to your own internal schedule so your projects are completed and the department goals are achieved. In a recent survey we conducted, 88% of the organizations that partook in it reported that they schedule their employees attendance based on the priority level of a project. Tracking your projects and goals will give you a better understanding of where progress is being made, where improvement is needed and what may be worthwhile delegating and/or outsourcing. Move beyond the clock and track your time so you re using it effectively. How quickly can you accurately determine which employees qualify for health care benefits? Only 35% of the companies who were recently surveyed declared that they were able to accurately determine which employees qualify for health care benefits. ACA compliant cloud-based time and attendance software can help regulate your internal processes automatically with out effecting work productivity. For many, productivity is a concern within the workplace. In fact, 12

13 From a management perspective you can regulate your employees productivity levels with an effective point system. An advanced point system will give you the ability to: Address attendance issues Reward and/or deduct points Enforce policies Another productivity consideration is the use of spreadsheets within the workplace. Though valuable, spreadsheets often lack the functionality to automate accounting processes and streamline your budgeting and planning processes. What specific functionalities are missing? Spreadsheets often fall short in two areas: version control and privacy. 28% of companies rely on spreadsheets for budgeting and payroll. Having a reliable solution enables your team to collaborate and provide cohesive visibility in real time. Speaking of measuring and evaluating data on spreadsheets, how do you measure your employees worth? 61% of organizations measure their employees value by the individuals skill set alone versus experience, training and education. Scorecards are based on a set of advanced metrics that are linked to financial results that can quantify value creation and/or destruction. Human-capital management and workforce analytics can work cohesively together to help quantify an employees worth. 40% of organizations rely on workforce analytics for employee engagement and 37% count on the data for employee retention. Workforce analytics help businesses define, predict, and enhance their performance. When applied to the HR world, workforce analytics help HR staff analyze data relating to productivity levels, performance, if training is effective, and can even predict turnover. 60% of the companies, who we recently interviewed, reported that employee retention could increase if salary and benefits were a top priority for employers when evaluating an employee s performance. Engaged employees are committed to your company s values and overall well-being. They re productive, high performers and lead even if they re not in a seniority level. 39% of organizations offer continued education as an incentive to keep employees engaged. 13

14 Key Takeaways 1. With an ACA Compliant Time and Attendance Software you can monitor employees schedules, time records, eligibility and benefits enrollment, compile accurate reports on workforce data, as well as produce comprehensive audits on when and where employees spend time. 2. Comprehensive employee engagement data will help provide insight into overall productivity, retention, skill set and acquisition. 3. Evaluate your workforce analytics to help quantify employees worth with measurement scorecards based on your company s goals and mission statement.

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