Four Ways Time & Attendance Systems Improve Business for Employers in the Manufacturing Industry
Running a business is no child's pay. Especially when the business is part of the manufacturing industry. But you already know that, don't you? As a manufacturer, you must have a first-hand experience of the complex firefighting that goes on daily. You must have seen how the workforce – which is supposed to be (and indeed is) your biggest asset – can turn out to be your greatest liability. Quite literally.
The myriad of complex wage rules, local regulations, federal policies, and union tactics make workforce management quite the headache for employers in the manufacturing industry. Navigating the web of rules and complying to them is time- and labor-intensive. It is also prone to several errors, costly errors in fact, that can hurt your business and reputation deeply.
And it doesn't even end there! As a manufacturer, you face additional complexities if you run facilities at different geographical locations. Managing workforce at all those locations; complying with the different local, state, and federal laws of each location; and tying wages, overtime, bonuses or other payments at these locations to the central HR or Payroll division is time consuming, labor intensive, and prone to costly mistakes.
Mitrefinch is the global pioneer and leader of automatic time & attendance tracking systems. The Mitrefinch Time & Attendance System (Mitrefinch TMS) is an intelligent system designed for manufacturers to simplify and streamline workforce management. More than 4,000 manufacturing businesses across North America, Europe, Australia, and the Asia-Pacific bear testimony to the fact that Mitrefinch TMS helps manufacturers boost productivity and save money.
1. Mitrefinch TMS helps you manage and control labor costs
Because our time and attendance system is intelligent and automatic, it captures accurate timekeeping and attendance data, ensuring immoral employee practices such as buddy punching or logging in more hours than one has actually worked, do not lead to overpayment from your side. It eliminates any chance of data double entry or other errors, controls labor costs, and also proves valuable as an efficient tool for accurate labor costing.
2. Mitrefinch TMS provides scheduling precision, thereby reducing the impact of absence
Unplanned absenteeism hurts production and profitability. But not if you use the Mitrefinch time and attendance system, which is designed to help manufacturers minimize overtime and therefore, the expenses incurred due to it. With Mitrefinch, you can easily allocate the overtime hours across the entire workforce at different factory locations. The system tacks accepted and refused overtime hours, profiles workers by their suspected overtime sick leave/overtime abuse, and provides valuable insight into the punctuality and trustworthiness of workers. You can leverage the information during work planning, project scheduling, and work allocation to get the most from your workforce.
3. Mitrefinch TMS aids in continuous improvement
Mitrefinch TMS delivers accurate real-time visibility of labor, machines, and work-in-progress, thereby allowing you to get a comprehensive picture of workforce performance. You can leverage the insight from your Mitrefinch TMS reports to identify areas where productivity can be improved, and also gain perspective on the workforce or allocation changes needed to actualize the increase in productivity.
4. Mitrefinch TMS keeps employees happy
Mitrefinch simplifies labor compliance for you and payroll processing for your HR and Payroll departments. Errors are reduced. Non-compliance is eliminated. Accurate wages and compensation are calculated. And, employees are given the perfect paycheck on-time, every time. This keeps them happy, increases motivation, boosts personal productivity, instills loyalty and reduces turnover.
Together, these benefits (and the ones that we haven't listed here) transform workforce management for your manufacturing company, adding productivity and profitability in the process.
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