Organizations are always looking for ways to improve processes. Many leaders prioritize efforts that increase sales, or maximize ROI on marketing efforts. They also care about enhancing the way employees connect, collaborate, and sync up across different locations, including satellite offices. Time and Attendance Software for Satellite Offices These days, business happens almost anywhere, and […]Read More >
Scrutinize Your Budget: Analyze Time and Attendance Cost
- nettime solutions staff
As we revive ourselves after receiving the holiday shopping credit card bills (whew!), the topic of “budget” suddenly pops into mind. And for businesses, that means looking at your time budget.
With an advanced time and attendance system, you can easily create customized reports to analyze the actual time spent in December 2014, so you’re prepared for the 2015 holiday season.
Let’s consider this past holiday season.
Across business types, various labor scenarios played out:
- The hiring of additional temporary help (“seasonals”)
- Overtime for full-time permanent employees
- Shutting down the business during the two-week gap in normal business activities
For example, did you over-hire temps with too much time on their hands? Or were your full-time employees understaffed and punching in gobs of overtime? Did some employees end up working even though your company was technically closed for two weeks? Customized reports can give you the answers to these questions.
Budget is not about “lowering costs.” Budgeting is about solvency and liquidity –– which means you’re prepared to keep your business in a high-functioning order even during the most frenetic of times.