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EPAY’s Workforce Analytics: A New Way to Save Employers Money… $1,000,000 at a Time

October 24, 2018 By Julie Kramer - Leave a comment

Connections 2018-Q4 Product ManagementChances are, your company would love to find clever new ways to cut labor costs. And improve labor compliance. And shorten payroll processing time. And while you’re at it, you’d love to start leveraging workforce analytics, if only it wasn’t so complicated.

Now you can do all these things, and it’s easy. At EPAY Systems, we’ve developed a unique workforce analytics solution that gives employers unprecedented visibility into what their workers are up to—a must when you manage a distributed, hourly workforce. It’s already saving at least one EPAY client $1,000,000 every year (more on that below). 

We call it our Workforce Performance Indicator (WPI) Dashboard and Reports, and it’s part of EPAY’s time and labor software. Our proprietary business intelligence tool has been a game-changer for our clients, and it can be for you, too.

How EPAY’s Workforce Analytics Solution Works

If your hourly workers clock in and out every shift, you’re already half way there. With EPAY, every time an employee interacts with our time and labor software—whether it’s a worker punching in or out or a field manager signing off on virtual time sheets—the system collects valuable information about it.  

Then, our workforce analytics solution takes this raw data and “crunches” it, so it reveals key findings, which employers can then easily access anytime via our online reports and WPI dashboard.    

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One Client Is Saving $1,000,000 per Year

Our long-time client ISS—a prominent global facility services provider with nearly 500,000 employees in 70 countries—was the first to put our new business intelligence tool to work. As a result, ISS was able to spot and resolve time and attendance issues that were driving up costs and dragging down operations.

For example, workforce analytics revealed that some managers were changing workers’ time cards and pay rates incorrectly…that some workers were improperly compensated for things like meal breaks and overtime…and that others were failing to punch out consistently.

By taking action, ISS was able to slash $1,000,000 per year from its labor costs, while reducing payroll processing time by 95%. Yes, you read that correctly.  

Before using EPAY’s workforce analytics, it took 14 ISS payroll employees 12 hours per week to complete payroll. Today, it takes four employees two hours each per week—a reduction from 168 hours to eight hours per week, or 95%.

Why It Works: Key Performance Indicators  

ISS has been able to realize such dramatic improvements because our workforce analytics solution targets key performance indicators that directly impact labor costs, compliance issues and payroll processing time.

For example, some of our KPIs include:

  • Measuring how long it takes managers to close open punches, which can result in delayed payroll processing when delayed.
  • Pinpointing which managers are exceeding the company’s overtime hours threshold, so employers can fix the underlying problem (staffing? scheduling?) and reduce OT costs.
  • Revealing which managers are changing employee pay rates—a potential compliance violation and possible indication of time theft.
  • Comparing actual and projected labor hours/dollars to budgeted hours/dollars, encouraging employers to stay within budget and also invoice clients more accurately.

Furthermore, our workforce analytics solution makes it easy for the employer to break down results by worksite and/or manager and drill down to the worker level. That’s visibility!

Metrics At-a-Glance: the WPI Scorecard

In addition, our system gives employers a simplified tool for measuring performance: the WPI Scorecard. It works by weighing and tallying each worksite or manager’s KPIs, then issuing a single report-card style “grade.”  

ISS found the WPI Scorecard particularly useful for comparing high and low performing worksites. They were able to identify who wasn’t using the system correctly and retrain managers and workers in a targeted way, resulting in dramatic improvements.

Put Workforce Analytics to Work for You

Chances are, you know that workforce analytics will help you run a more efficient, compliant operation, but you don’t have a real system in place or know where to begin. We can help with that, via our workforce analytics solutions.

EPAY Systems offers the only complete HR solution designed for employers with a distributed, hourly workforce. That’s why we’re the leading provider in this space. Our system helps employers lower their labor costs and optimize their people, while lightening their HR workload via robust, end-to-end HR software.

Eager to learn more about our WPI business intelligence tool? Start by request our informational brochure. When you’re ready, we’re here!

 

Filed Under: Workforce Management