Filed under Business partner updateMonday, 08 April 2019
These days, technology has become integrated in almost every aspect of our lives - we rely on it for everything from communication and education to travel. And with innovations constantly developing, using technology to improve business and processes are becoming ever more popular. So, how can your back-office benefit from modern technology?
If your organization is still handling onboarding, time management, payroll and employment law compliance manually, then now is the time to start thinking about how technology can work for you. Using a system such as our custom technology Precision can transform your back-office processes whilst increasing productivity and removing some of the chance for human error. If you're looking for other ways to improve processes at your staffing agency, read this blog Five key areas to monitor when growing your staffing agency.
PGC’s experience in working with staffing agencies has given us plenty of insight into these internal processes, and just onboarding a new worker alone can take up to 30 minutes to complete manually. The more workers you bring on, the more this time factor increases. Now, factor in timesheets, payroll, invoices, support requests and every other requirement, and it’s a wonder if your team has time for anything else!
All of that adds up to significant labor cost. A study by Oracle shows that leveraging a technology platform that streamlines these processes can realize savings between 6-10% of total payroll costs, on average. Three-quarters of companies that took part in the study reported that these savings were achieved within a year of the technology being implemented.
Whether it’s $8M in GDPR lawsuits against Facebook and Google, $5.7M for a FLSA case against Kellogg, or a $50M class-action suit against MetLife, employment law compliance has the potential to do serious harm to your organization without the proper guidance.
By using a company such as PGC to help you with this, you not only benefit from a range of services but have access to a team of experts with the knowledge and experience to deal with these challenges. This combined with technology that has been specifically designed to support these processes, increases productivity and removes some of the risks of human error. For example, if you submit a timesheet in Precision for a Non-Exempt worker, the system will automatically parse out the submitted hours into their correct overtime buckets. No mistakes, no worries…and more importantly, no liability.