It’s the end of the year, and many Australian organisations are already well underway with the annual rituals of reporting on the year that was, and planning for the year ahead.
As budgets are being prepared for the New Year, this Mitrefinch blog has a few points that may assist you to build the case for implementing time and attendance software when it comes time to present it to your senior management.
You may already be well aware that an automated Mitrefinch time and attendance system can improve various areas of your business. But are there any other benefits you may not have considered? Here are a few…
- High absenteeism rates and lateness among employees can have a flow-on of negative consequences for your business, ranging from unscheduled overtime to reduced quality and worse. Our system can help cut down on that, and help you track issues better.
- An automated system is easily auditable, boosting compliance and control over how you pay your employees and avoiding litigation, violations and grievances.
- The average payroll error rate for manual, paper-based time and attendance system has been estimated at 1.2 per cent (Nucleus Research) up to 5 per cent (Six Sigma) and even as high as 8 per cent (Robert Half report). If you’re underpaying by mistake, the Fair Work Ombudsman may prosecute the case and it is at the discretion of the Federal Magistrate to penalise underpayment of wages. If you’re overpaying by mistake, lost money can add up quickly. The Mitrefinch automated workforce management solution is a solid step towards improving the accuracy of your payroll. It’s faster for your payroll people to process too!
- Lost a paper timesheet? These things do happen, and they do result in payroll inflation. With the automated system, it’s all recorded properly and things can’t be lost.
- Management seeking an accurate snapshot of job and labour benefit from enhanced visibility, and up-to-date data. Reports can be easily generated on a variety of critical areas.
Mitrefinch can also assist in a number of other areas to improve your workforce management. Why not get in touch with us today to arrange a free, no obligation demo?