Leveraging Labor Analytics to Make Workforce Decisions
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In nearly any company of every size, total human capital costs remain the single greatest organizational expense. With payroll costs that are averaging nearly 70% of total operating expenses, it’s important to know if your workforce is your most valuable asset or merely your greatest expense. How might your hiring decisions, employee scheduling methodologies, and strategic growth plans be impacted if you had the ability to analyze fine details of your labor data year over year, month over month, and by location and department? In this free webinar, you’ll learn what labor analytics you are able to capture with stratustime, nettime solutions’ cloud-based time and attendance platform, and you’ll understand how this information can be used to help you make critical workforce decisions that will increase your overall productivity by allocating your labor resources appropriately.
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Leveraging Labor Analytics to Make Workforce Decisions
- 1. Leveraging Labor Analytics to Make Workforce Decisions with automated, cloud-based time & attendance July 23, 2014 @nettime #LaborData
- 2. Webinar Presenters Jennifer Spencer Director of Marketing @jenspencer Ruli Garcia Technical Sales Engineer
- 3. Webinar Overview • Where does the day go? • Project management capabilities • Employee scheduling • Overtime and PTO usage • Q&A
- 4. Human Capital Costs With payroll costs that are averaging nearly 70% of total operating expenses, it’s important to know if your workforce is your most valuable asset or merely your greatest expense
- 5. How Do Workers Spend Their Day? Employees spend 8 hours per week searching for information Time spent in the office does not always translate to productivity. Employees spend 13 hours per week dealing with email
- 6. Common Distractions Workers spend on average 1 hour/day on personal tasks
- 7. How Are YOUR Employees Spending Their Days?
- 8. Time & Attendance Software Time & attendance software allows management teams to analyze time spent by all levels of employees within any given time frame, providing executive-level decision makers with the proper data to make strategic workforce decisions.
- 9. Drilling Down into your Data
- 12. Scheduled vs. Actual Hours Use stratustime labor analytics to compare your scheduled hours to the amount of hours your employees are actually working.
- 13. Visual Scheduler Quickly scroll through different employee groups with the stratustime visual scheduler to make sure you are properly staffed on a given day.
- 14. Overtime and PTO Usage How many employees do you know who consistently work overtime?
- 15. “ ” Employee Burnout Overtime [is] associated with poorer perceived general health, increased injury rates, more illnesses, or increased mortality. Centers for Disease Control and Prevention
- 16. Vacation – Not Just an Employee Benefit
- 17. Reporting on Overtime & PTO Use stratustime labor analytics to view how overtime may be affecting your departments or individual staff members.
- 18. Reporting on Overtime & PTO Are your employees using their time off?
- 19. Time, Money & Toothpaste “Once you squeeze the toothpaste out of the tube, it’s nearly impossible to get it back in.”
- 20. stratustime Alerts With the alerts module we have in stratustime, you can quickly gain insight into the areas most important to you.
- 21. stratustime Alerts Employee is Nearing Overtime Employee is Absent Misses a Punch Comes in Early Skips a Meal Employee’s Certification is Nearing Expiration
- 23. Questions?
- 24. Leveraging Labor Analytics to Make Workforce Decisions For more information, call 800.561.6366 or visit nettimesolutions.com to request a customized demonstration of our time & attendance software.
Notes de l'éditeur
- Thanks for joining us today for “Leveraging Labor Analytics to Make Workforce Decisions.” Attendees are still gathering, so we’ll begin in just a few minutes. Hi, and welcome to “Leveraging Labor Analytics to Make Workforce Decisions.” If you’re on Twitter, our marketing team will be live tweeting throughout the webinar using hashtag Labor Data, or you can follow us directly at nettime. This webinar will be recorded and emailed out to all registrants, so if you need to step away or you have colleagues who would like to view the webinar, we’ll have that ready for you tomorrow.
- My name is Jennifer Spencer, and I’m the Director of Marketing here at nettime solutions. I’m also joined today by Ruli Garcia, who is one of our Technical Sales Engineers here at nettime. (Ruli intro)
- In today’s webinar, first we’ll take a look at exactly how employees are spending their time and what common distractions are keeping us from being more productive throughout the work day. Then, we’ll talk about project management and how time and attendance with the right functionality can really help managers better understand exactly how human capital resources are being spent within an organization. We’ll look at scheduling and the opportunity we have to harvest labor data and use it to create future schedules that best fit the needs of a company, and we’ll show you what scheduling tools we have available within stratustime. Finally, we’ll dive into overtime and PTO usage and explain how, from an employee engagement perspective, these two items can be very similar. And, Ruli will show us how we can use real-time reporting to reduce overtime and encourage appropriate PTO usage with the help of sophisticated analytics and easy-to-use alerts. The webinar will then close with a Q&A session. As questions arise, you can enter them in the control panel of Go To Webinar, and we’ll do our best to answer all of your questions at the end of the webinar.
- In nearly any company of every size, total human capital costs remain the single greatest organizational expense. With payroll costs that are averaging nearly 70% of total operating expenses, it’s important to know if your workforce is your most valuable asset or merely your greatest expense. How might your hiring decisions, employee scheduling methodologies, and strategic growth plans be impacted if you had the ability to analyze fine details of your labor data year over year, month over month, and by location and department?
- How Do Workers Spend Their Day? — Unfortunately, only 88% of the day is spent actually working Studies have shown that … Employees spend 8 hours per week searching for information they need in order to do their jobs effectively. Employees spend 13 hours per week dealing with email. That’s 28% of their workweek. Time spent in the office does not always translate to productivity.
- There are quite a few distractions throughout the workday that keep us from our jobs. In fact, workers spend on average an hour a day on personal tasks such as … Reading News Websites – 65 minutes Checking Social Media – 44 minutes Socializing with Colleagues – 40 minutes Searching for New Jobs – 26 minutes Taking Smoking Breaks – 23 minutes Placing Calls to Partners/Spouses or Friends – 18 minutes Making Hot Drinks – 17 minutes Text/Instant Messaging – 14 minutes Eating Snacks – 8 minutes Making Food in the Office – 7 minutes All of these distractions contribute to disengagement in the workplace, but self-service time management systems combat these issues by engaging managers and employees and encouraging users to make use of existing workforce data.
- Maybe you don’t want to put your employees on total lock down and prohibit them from taking these small breaks throughout the day. But, if you DO manage a group of people, then you’ve probably thought, ‘My employees seem incredibly busy all day long, but I’m honestly not sure what they are specifically working on,’ or ‘I’m not sure if my team has the capacity to take on yet another project.’ And really, how do you know? Most departments have weekly meetings where team members check in and provide feedback on what’s happening in the week and month ahead, and some even use project management software to organize all of the moving parts that go into successfully completing a job. But how do you as the overseeing manager really understand where your team is spending their time, and is there anything you can do to increase your team’s productivity and affect your company’s profits?
- While time clocks have largely been used for hourly employees clocking in and out as they appear for work, take breaks, and depart for the day, time and attendance software allows management teams to really analyze the time spent by all levels of employees within any given time frame. This valuable information is providing executive-level decision makers with the proper data to make strategic workforce decisions. As a manager of a large department, I previously had full-time salaried employees tell me that they couldn’t possibly add anything else to their workloads. I could see that these individuals were working well over 40 hours each week; they always appeared to be extremely busy and on task; and they frequently came into the office or worked from home on the weekends just to keep up with their duties. It would be easy to explain to my superior that our team was at our maximum capacity and the work would have to either be outsourced, turned down, or that we would need to hire additional employees. Here’s where a sophisticated time and attendance system can take perceptions and flesh them out with data-driven facts. In fact, Ruli is going to share some of the project management capabilities we have in stratustime that showcase labor allocation reporting that can be extremely beneficial for workforce decision marking.
- Quick reporting widgets allow you to quickly drill through your company labor levels Customized reporting widgets are available through the manager’s dashboard and alow you to quickly drill through your company labor levels. For example, the following image shows the hours dedicated to my 2 location. By clicking on a location, I can then see the hours allotted by my next labor level, which in this case is department. Stratstime will allow you to quickly click through your companies labor levels, all the way down to an individual employee
- Don’t just use reporting to see OT against your bottom line, use stratustime labor analytics to view how overtime may be affecting your departments or individual staff members. Are certain depts or locations in your company being over worked or stressed?
- Here I have a report showing 2 different depts within my company. As you can see, one dept has used a considerably larger amount of their PTO than the other. What type of affect is that having on your employees, dept, and company productivity
- Alerts – There’s a saying you’ll hear around our office comparing time and money to toothpaste, “Once you squeeze the toothpaste out of the tube, it’s nearly impossible to get it back in.” If you’ve ever had to sign off on thousands of dollars in overtime, you know what we mean. Once the time is spent, you can’t get it back. And, as you know, time is more expensive than toothpaste. This is why we have the tools that we do for time and labor management.
- We’ve covered a variety of data points (and Ruli’s going to show us a few more in just a minute), but the thing is, data is just data unless you are able to apply it. We find that alerts are extremely beneficial. With the alerts module we have in stratustime, you can quickly gain insight into the areas most important to you in an appealing and intuitive approach. Our goal is to present you with the right data at the right time – before money and productivity are lost.
- Here are some common alerts that we see across many industries: An employee is nearing overtime An employee is absent, misses a punch, comes in early, or skips a meal An employee’s certification is nearing expiration RULI: stratustime alerts can be linked to email addresses and text messaging to create as many contact points as needed.
- We know you don’t have time to analyze labor data all day long. That’s why the tools we have available are intuitive, easy to use, and are focused on helping you make critical workforce decisions that will increase your overall productivity by allocating your labor resources appropriately.
- Now I’d like to open the webinar up for any questions you might have. You can go ahead and enter those questions right into Go To Webinar’s control panel, and we’ll answer them as they come in. Sample Questions: Are there contracts? How does pricing work? How do you collect employee data? Time clocks? Time sheets, etc? How many different labor levels can the system accommodate and can you report off of all of those levels?
- Thank you for joining nettime solutions for “Leveraging Labor Analytics to Make Workforce Decisions” We’ll be emailing all registrants a recording of this webinar, and it will also be posted on our website and YouTube Channel. If you’d like to learn more about stratustime and see if it’s the right automated time and attendance system for your organization, you can give us a call at 1-800-561-6366 or visit us online at nettimesolutions.com to request a customized demonstration. Thanks, and have a wonderful rest of your day!