Investing In Workforce Management Tech Is Not Just Smart. You Get An $8 Return Per $1 Invested

Investing in workforce management technology is something that every business knows they should do.

These technologies include, solutions such as payroll, and human resources management, and time and labor management technology as an attractive investment opportunity, a spokesman for HR tech firm SaasHR.com, told me.

What you might not know is that companies are finding they are getting back nearly $8.00 for every $1 investing in workforce solutions.

“A growing number of small to mid-sized businesses are recognizing that investment in workforce management technology not only helps to manage a company’s resources, but also creates returns that are vital in the current economic climate,” explained Bill Loss, CEO at SaaShr.com. According to Nucleus Research, a leading information technology research firm, the average company gets back $7.88 for every dollar invested in workforce management applications.

SaasHR.com’s spokesperson went on to tell me that:

  • Business payroll functions like customer’s payroll calculations, tax withholdings and deductions can be handled with ease.
  • From job board integration to video resume posting, integrated online background screening to skills testing, and performance reviews to retirement planning, human resources management software allows managers and HR administrators to focus on more business-impacting initiatives.
  • Time and labor management technology provides for fast and accurate time and attendance data capture from various web timesheet formats and virtually any data collection device.

Combining these three solutions to formulate a platform of workforce services means an integrated workforce management system that effectively and efficiently manages a company’s workforce, without the manual, time-consuming labor usually associated with these processes.

If you’re company is growing and you are not leveraging technology to manage your growing workforce, I’d bet your are LOSING money each week. Your hiring is not as efficient as it should be, you could be losing money with each check sent out and you could be hiring the wrong employees and keeping them too long.

Let technology help you.

 

 

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About Ramon Ray

Ramon Ray, Marketing & Technology Evangelist, Smallbiztechnology.com & Infusionsoft. Full bio at http://www.ramonray.com . Check him out on Google Plus, Twitter or Facebook

  • http://twitter.com/InsperityNick Insperity TimeStar

    Ramon,
    As someone in the workforce management industry this is a great article.  It helps showcase the very real (hard dollar) value a workforce management system can bring to a company’s bottom line.

    Thanks,
    Nick

    • http://Smallbiztechnology.com Ramon Ray

      Nick, thanks for your comments. I sure do hope this helps someone! :)