Metrics that Matter for Managing Employees

Transcription

1 Metrics that Matter for Managing Employees Laurie McCabe Cofounder and Partner SMB Group Kristen Wylie Product Marketing Manager Kronos Incorporated KRONOS INCORPORATED December 4,

2 Today s Speakers Guest Speaker Laurie McCabe Cofounder and Partner SMB Group Kristen Wylie Product Marketing Manager Kronos Incorporated KRONOS INCORPORATED December 4,

3 Top Business Challenges Shift As Companies Grow Small Business (1-99 employees) Medium Business (100-1,000 employees) Attracting new customers 57% Growing revenue 47% Growing revenue 55% Attracting new customers 41% Improving cash flow 37% Improving customer experience and customer retention 39% Maintaining profitability 35% Attracting & retaining quality employees 35% Improving customer experience and customer retention 28% Maintaining profitability 35% Attracting & retaining quality employees 24% Improving employee productivity 32% Reacting quickly to changing market conditions 19% Reacting quickly to changing market conditions 22% Improving employee productivity 17% Meeting compliance/regulatory requirements 21% Meeting compliance/regulatory requirements 14% Improving cash flow 20% Obtaining financing 13% Obtaining financing 6% Source: SMB Group 2015 SMB Routes to Market Study 3

4 Signs That What You re Doing Isn t Good Enough Anymore Too Much Time, Too Many Errors Poor Visibility Into Data for Decision-making Everyone Has a Different Version of the The Truth 4

5 Cutting Through The Hype of Buzzwords and Jargon Percentage of SMBs that say that figuring out which technology solutions can best help my business is one of their top 3 technology challenges 5

6 Focus First on Key Performance Indicators (KPIs) What are KPIs for? Measures how effective a company is at achieving key business objectives Helps determine whether what you are doing is working or not Helps you more easily see what you need to change to improve performance Sample KPIs Calculate payroll more quickly Track employee time more efficiently Track and manage employee time off and absences more accurately Improve compliance 6

7 KPIs: Reducing Labor Costs With Workforce Ready, we ve been able to reduce our payroll processing time from seven to two days and we re cutting fewer duplicate paychecks. Ryan Baldwin, IT Director, Rehab Resources *Source: SMB Group Study: Cloud-Based Workforce Management Powers Midsized Organizations 7

8 KPIs: Improving Employee Productivity *Source: SMB Group Study: Cloud-Based Workforce Management Powers Midsized Organizations 8

9 Getting Results: Blarney Castle Oil and Propane The Situation Family-owned business with 102 locations Challenges Before No centralized record of schedule changes After Real-time visibility Previously we saw 10 to 15 missed punches when we ran payroll. Now it s rare to see even one open enrollment is now online, and we expect it to resolve 90 percent of the paper issues. Struggling with manual time and attendance, HR, and payroll processes No visibility into employee information Paperless HR Wayne Overla, HRIS manager, Blarney Castle 9

10 KPIs: Increasing Compliance *Source: SMB Group Study: Cloud-Based Workforce Management Powers Midsized Organizations The Affordable Care Act is a huge concern for us. It could make or break us. Workforce Ready gives us the tools to manage it properly. Wayne Overla, HRIS Administrator, Blarney Castle 10

11 KPIs: Reducing IT Overhead We don t have all the IT support that some large organizations have. So not having to manage software and servers for workforce management adds up to big time and cost savings. Jeff Masters, Corporate Controller, Leedo Manufacturing *Source: SMB Group Study: Cloud-Based Workforce Management Powers Midsized Organizations 11

12 KPIs: Growing Business Value Our ability to get hours by cost center to see our efficiency helps us with cost quotations. Seeing the hours helps us to determine manufacturing, packaging, and other costs, which is important to staying competitive. Vicki Bergendal, IT Administrator, Wisconsin Cheese *Source: SMB Group Study: Cloud-Based Workforce Management Powers Midsized Organizations 12

13 Upping Your Game Advantages of Integrated Solutions Automates and integrates employee management processes Better, more confident decisionmaking Saves time, reduces errors Improves collaboration Helps you work smarter, not harder Grows with your business Integrated workflow = One version of the truth 13 10

14 Getting Unstuck Remember the high cost of doing nothing! Keep in mind The end goal is to integrate and streamline processes across the business Automate the most critical/time consuming functions first Turn on new capabilities as you re ready for them Look for a provider with relevant best practices and expertise Build the business case with relevant metrics and KPIs 14

15 Thank you for joining us! KRONOS INCORPORATED December 4,

16 About Kronos With tens of thousands of customers around the globe, Kronos is the leader in workforce management solutions. We deliver industry-focused time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics solutions and services in our cloud and on the go. Kronos: Workforce Innovation That Works. For more information contact your Kronos representative, call (800) or visit KRONOS INCORPORATED December 4,