PTO tracking software offers an unmistakable return on investment for business owners and positive impact on the employee experience. As a business owner, you are responsible for the bottom-line results. So it’s your job to make sure that any investment in technology and automation delivers a return on their costs.
Certainly, your employees’ time off can be tracked and calculated manually, so it’s a common assumption that sticking with spreadsheets saves you money. However, companies that have introduced advanced time-off tracking software quickly discover that their original assumption was wrong.
Automated tracking platforms like Time Off Cloud offer a rapid return on investment in the form of eliminated manual tasks, reduced timekeeping errors, increased compliance, and improved employee engagement.
The High Cost of Relying on Manual Absence Management Processes
When you run a business, you know that the old adage is true. Time really is money, and every moment spent on mundane manual tasks and correcting errors impacts your company’s productivity and profitability. Does this time off tracking process sound familiar?
- Your HR administrator creates a PTO policy and communicates it to your workforce
- Managers spend hours figuring out which employees are eligible and how much PTO they are eligible for
- Every time a team member needs time off, there is a flurry of phone calls and emails
- Managers pull out their employee vacation tracker spreadsheets and paper calendars to see whether the date can be approved
- If so, they notify employees of the approval, enter the hours into the spreadsheet, and add the absence to the attendance tracking calendar
- One of these steps goes wrong – team members are frustrated because their request was lost or they never received a response from their manager, PTO balances are miscalculated or the attendance tracking calendar isn’t updated
- Chaos ensues. There are complaints to your HR administrator, overpayments must be corrected and no one knows who is coming to work on a given day
- By the time year-end reporting is due, everyone is exhausted. Managers must manually calculate a year’s worth of data, and they inevitably discover employees took too much PTO or not enough
- There is a flood of PTO requests, and you end up short-staffed through the holidays
- Worst of all, you discover your business was not in compliance with state regulations around protected time off
In short, the paper spreadsheets and calendars intended to save you money cost you far more than an investment in PTO management software. Between the time your HR and management staff spent on the process, the expense of errors, and the lost productivity of disengaged employees, you can see an impact on your bottom-line results.
Time Off Cloud: Absence Management Software that Saves Time and Money
First, you eliminate manual data entry and complex calculations that inevitably contain errors – bearing in mind that if those errors cause a violation of labor laws, there may be legal and financial consequences.
Second, the increased efficiency and automated reporting mean you have full visibility into your employees’ use of paid time off benefits. You don’t have to wait for your HR administrator to pull year-end reporting together. You can have a look at how paid time off is being used in your business whenever the urge strikes you. That means you are more likely to identify inefficiencies and make adjustments to absence management in a timely manner – before you lose another dime.
Third, manual processes for requesting, approving and tracking time off requests and unplanned absences take time away from your HR professionals, managers and supervisors. It also takes your employees away from their work. Automating this process can be up to 10 times faster than manual request, approval and tracking processes. More importantly, your employees have a better experience, which contributes to stronger levels of employee engagement.
The Bottom Line
The bottom line is that PTO tracking software saves you time and money–and it delivers a better experience for your HR administrators, managers and employees. That means increased employee engagement which builds your reputation as an employer of choice.