Most companies today appreciate the benefit of outsourcing and automating Payroll and HR functions. They partner with companies that provide specialized services and solutions in those areas in order to:
- Reduce costs
- Expedite processing
- Enhance accuracy
- Mitigate the risk of non-compliance
- Increase employee satisfaction with reliable payouts
- Ensure that taxes are paid correctly and on-time
These are just some of the reasons why companies choose to partner with a payroll provider. They see the benefits and they want to leverage that expertise and protection to their best business advantage.
That’s all well and good. But is Payroll the only consideration? What about Time and Attendance (also known as Time and Labor Management – TLM)?
Historically, TLM took a back seat to Payroll. Payroll was seen as the “must-have” service, while TLM was typically relegated to a “nice-to-have” service status. That trend was partly due to the Payroll providers who sell and provide payroll. From their point of view, Time and Labor is an “add-on”; it is not their core business or focus.
But in fact TLM is a foundational sub-set of Payroll. The two services go hand-in-hand, each one feeding information to the other. And because of that, companies are now realizing that if they take their automated Payroll and HR system and feed it with either a manual process or an outdated TLM solution, they are certain to encounter problems such as:
- A lack of seamless integration
- No checks and balances for DOL compliance and internal policies
- A slowed Payroll process of gathering, compiling and calculating data
- Inability to capture historical data
- PTO requests and the related tracking and approvals are often manual, tedious and error prone
- No simplified scheduling tool to integrate with time sheets or Payroll
- Lack of visibility between locations; failure to take advantage of Cloud technology
So with all of these challenges and limitations looming, your automated (and expensive) Payroll solution can become bogged down, inefficient and less accurate. It stands to reason that if you are automating only one side of the equation (and not the other), you are likely losing money! The rationale for partnering with a Payroll company stands true for Time and Labor as well. You need to manage one of your biggest expenses: your people.
TLM delivers the best return on your investment when it is integrated with Payroll and/or HR, not as an add-on, but rather from the ground up, built to manage and track your people’s time.
The two processes work together seamlessly, and it is an affordable and preemptive strategy that keeps the DOL out of the picture so that your business can be more focused on growth, profitability and scalability.
Not only does TLM eliminate most problems on the front end, but it also serves as an amazing tool to handle anything from an employee inquiry, to a Union dispute or a full-on DOL audit. Imagine having anyone’s punch data, from any time frame, with a full audit trail at your fingertips, without ever leaving your desk.
Now imagine if you could do that in a minute or less?!
So rather than asking “Why Time & Attendance”, I urge you to consider the more obvious question, “Why not?” Why wouldn’t you integrate TLM solution alongside Payroll?
The truth is, you would be foolish not to…
To speak with a TLM Consultant or to learn more about SaaSTime and their comprehensive TLM solutions, be sure to visit booth number 236 in the Resource Partner Showcase at SHRM-Atlanta’s Annual Conference March 13 &14 at the Cobb Galleria Centre in Atlanta, GA.
David Nixon is a Workforce Management Sales Consultant with SaaSTime. He has spent the past 16 years in the Payroll outsourcing world. Half of that time was spent as implementation specialist and support specialist for 200+ companies, and the last 8 years have been spent as a Workforce Management Sales Consultant, helping companies cut costs, streamlining internal processes and staying in compliance with the Dept of Labor. David was formerly a top producer at ADP, a Solutions Engineer and Subject Matter Expert at Perquest, and is now the Sales Consultant for the SaaSTime WFM product line.