Myth:Bottom line is something that only sales can improve and no one else. This is wrong:Every employee in the organization can help improve bottom line, being on time is one of the major indicators for a healthy business. It is either communicating with peers on time or sending documents on time or anything that is related to business. Regular visits to garage will not just improve car performance. There are many other factors that can help which includes but not limited to driving careful, getting serviced on time, clean car so on.
Adopting a good workforce software can help you
When everything is online, reminders and alerts takes care of follow up’s and tasks are assigned to each of the employee on what they have to do and by when they have to do then I am sure your labour costs will spiral down.
Usually a workforce software is built integrating all modules so that you can setup, configure or mirror your business in there. Schedule timesheets as per your business need, it can be either weekly or monthly or semi-monthly or bi weekly. Set up an approval process and whenever an employee submits his timesheet along with client signed timecard, approve it for an invoice to get generated automatically and on time. Reducing errors and sending client invoices on time will certainly impact company bottom line.
Approve every document that you upload into the system, configure your workforce software in such way that a payroll is not generated when LCA criteria is not satisfied. Let your employees access their documents and let workforce software alert them as well when their document expires. Prevention is better than cure, saving millions of dollars by being complaint is saving a lot to the company.
It is called a workforce software and software should define what each employee has to do. If you are from immigration then which document expires when is something that your software should notify and you know how many documents you have to renew. When each employee knows what they have to do then what else? Productivity should boost up helping bottom line
One of the that HR like the most is to increase engagement with employees because they can get more referrals and close more positions. Run referral campaigns in your workforce software, let your employee know that they will be rewarded. Close more positions, do more business, get more money.
When you know how many hours your employee work, then there is no scope for errors. You get their time sheets along with client signed time cards, you approve them and an invoice is sent to them. Reducing payroll errors will not just help improve bottom line, they will also improve employee satisfaction.
When you reduced data entry errors with self-servicing time hours, automated invoices and achieved on time sending and receiving invoices, Then your receivables and payables are also going to be on time. Receiving client payments on time will help you forecast accurately and mitigate risk.
I have covered major of the points, however feel free to leave your feedback or any point that you think I missed here.
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