Kronos Essentials | Reduce Costs
Reduce Payroll Costs and Increase Payroll Efficiency
Want to reduce payroll costs? Simply by automating your payroll systems, you can achieve a three percent return on investment — fast.1 And that's just the beginning.
Kronos Essentials can also help you increase payroll efficiency, reduce payroll errors and inflation, and control absenteeism. The savings can be enormous: Unscheduled absenteeism, for example, conservatively costs $3,600 per hourly employee per year and $2,650 per salaried employee per year.2
These are just a few examples of the potential savings you can achieve through automating your time and attendance practices. In your first pay period alone, you can find additional savings opportunities when you:
- Reduce unauthorized overtime
- Minimize human error and the associated hours of rework
- Eliminate the time spent keying employee data into payroll
- Reduce the costs associated with printing, handling, and archiving paper timesheets
Already automated? You can still save more.
Your initial automation investment may have solved simple needs, but it's likely you've outgrown its capabilities. Or perhaps you have workarounds in place to maintain compliance or apply special pay rules. These manual workarounds decrease effectiveness and increase room for error.
The good news is that you have the opportunity to further reduce payroll costs and increase payroll efficiency. You'll gain additional benefits with Kronos Essentials if:
- Your solution is homegrown, but your internal resources are too limited to continue to maintain pay rules and compliance requirements, or upgrade/customize your solution. Kronos Essentials removes your IT roadblocks to reduce your risk and increase productivity.
- Your time and attendance solution is part of an HR or payroll solution, but you aren't getting the functionality you need. Kronos Essentials eliminates manual workarounds and duplicate data entry, and adds employee and manager self-service so you can save money.
- You have more than 1,000 employees and you're using a service bureau for payroll. You could save money by bringing your payroll in-house.
How can Kronos Essentials benefit your organization?
View a two-minute demo about time and attendance, employee self-service, payroll processing, absence management (leave management and attendance tracking), or employee data collection.
Call us at (877) 844-1479 to learn more about how thousands of small to midsize organizations use Kronos solutions every day.
Discover more about workforce management solutions that meet your business challenges:
- White Paper: The Successful Executive's Secret Weapon
- How to Select an Automated Time and Attendance Solution
- Visit the Resource Center for additional documents
1Nucleus Research, July 2006.
2Circadian, Absenteeism the bottom line killer, p2, 2005.
How does Kronos fit your needs?
