Boosting Productivity and Reducing Costs In Tough Economic Times

Via Industry Week

By Gregg Gordon

Unprecedented economic challenges are driving manufacturers to find new ways to cut costs and boost productivity. Many have already taken steps to identify inefficiencies and improve supply chain, design and production processes. Unfortunately these changes are not always enough.

Because labor often represents a manufacturer’s most significant controllable expense, a big opportunity for reducing operating costs and increasing productivity lies in more effective workforce management that help achieve quick bottom-line results.

The following six tips offer ways to manage your workforce more effectively for higher productivity and lower costs — even in these tough economic times.

1. Put Systematic Controls in Place to Ensure Fair, Accurate Employee Pay

Without sufficient timekeeping controls, you may be paying your workers too much — or too little. Overpayment eats into profits and underpayment puts you at risk for legal penalties, union grievances and employee dissatisfaction. Manual timekeeping processes require managers to remember complex pay rules — overtime, government regulations, union agreements, and more — an approach that too often results in payroll errors.

An advanced time and attendance system eliminates costly guesswork by capturing company, union, and regulatory rules up front and automatically applies the rule for consistently accurate pay calculations.

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