Many of today’s companies recognize that their employees are the key to their success. Whether their people help drive innovation, create great customer experiences, or follow through on efficiencies, engaged and productive workers typically lead to a successful business. Right now, retaining employees is a hot topic. The Right Point System is a Reward In […]Read More >
You Try to Avoid it: Its Name is Overtime
- nettime solutions staff
Got overtime? A lot of businesses do, and very few plan for the extra expenses as a result of overtime, some of which aren’t as easy to spot as an extra hour on a timesheet. According to our latest survey, only 23% said they specifically budget for overtime expenses and 48% said they avoid scheduling overtime if at all possible.
While many expressed concerns about the cost of overtime, both to budget and sanity, only 16% shared they are not as proactive as they need to be about overtime. One of the reasons that businesses are not able to be proactive about overtime, you guessed it, is time. 74% said they either don’t have an HR department or that one person is solely responsible for all HR-related responsibilities. In the case that an HR department doesn’t exist, that means extra administrative work for each manager.
One way to help reduce overtime is to plan for sufficient staffing, so no one employee is overworked and clocking overtime hours. 74% agreed, saying sufficient workforce staffing is an important part of managing an efficient business.
The ability to generate employee schedules quickly and easily allows you to ensure you have the right people, and amount of people working at the right time. 64% who took the survey also believe that it is important to be able to generate employee schedules quickly, meaning no time lost on erasing numbers on spreadsheets.
Getting straight time and overtime hours correct, the first time around, is extremely important for employee productivity as well as your company’s bottom line. These numbers are crucial to projecting accurate payroll taxes. 60% who took the survey understand this, saying it is important for their company to project accurate payroll taxes.