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7 Hazards Facing Growing Businesses

3/23/18 10:58 AM

Growth is good — right? Your hard work is paying off. Customers recognize your brand and the great products and services you deliver, but at what cost is growth delivered? Is your business facing any of these hazards?

1. Payroll takes days rather than hours to process

As your company grows, so do your employee numbers. Along with this comes complexity in the number of employees you manage, and the time it takes to run payroll. Where previously it may have taken a couple of hours, now it is taking days. Your manual processes for capturing, approving, and processing working time using paper time-sheets or spreadsheets are no longer fit for purpose and are open to fraud and prone to error. Operationally, you may be meeting customer needs, but your payroll department is slowly sinking, which could ultimately mean you fail to pay your staff. You need a solution that can automate the capture and processing of time and attendance data.

2. Managers spend too much time on administrative tasks and too little time focused on customers

A growing team can also mean an increase in time spent dealing with administrative tasks. Planning staff schedules, answering staff work queries, dealing with sickness, managing overtime, handling holiday requests, signing off on time-sheets — the list goes on. At a time when you need your managers focused on delivering great products and services, the last thing you need are manual workforce management processes weighing them down. You need a solution that will remove the administrative burden and simplify the processing of key workforce-related tasks.

3. You no longer have full visibility of staff presence and activity

As your business grows, it becomes increasingly difficult for managers to know which employees are present and which jobs each employee is working on. People may no longer be working in the same physical location, they could be working remotely. A lack of visibility can affect productivity, customer service, and costs. You could be paying for people who are absent and incurring unnecessary overtime costs. You need a solution that delivers real-time visibility regarding the presence and availability of your staff, wherever they may be working, to help your managers make better business decisions.

4. Scheduling employees to meet customer demand is becoming a time-consuming and complicated process

As your business grows and customer demand increases, ensuring you have the right people, in the right place, at the right time, and at the right cost, is critical. The more staff you have, the greater your staff scheduling complexity. Getting the schedule wrong can adversely affect costs, customer service, and staff morale — which in turn affects productivity and efficiency. Manual systems such as spreadsheets will no longer cut it — they waste managerial time and don’t support your business goals.

5. The HR and Payroll teams are drowning in paperwork

Your operational managers may be keeping pace with increasing customer demand, but what’s happening in the back office? Your company is growing, and you appear to be hiring new people effectively and paying them on time — right? In reality, manual systems are causing your back-office HR and payroll teams to struggle. They are finding it harder to manage core HR tasks — recruitment, on-boarding, compensation, performance reviews, skills and certifications — and most crucially, pay staff accurately and on time. Employment related data is held in multiple files and locations — both paper and electronically — making it hard to process and putting you at risk of failing data compliance audits. You need a solution where data is entered once, stored securely, readily accessible and processed with ease.

6. Employee and manager time is being wasted dealing with workforce-related queries

Manual and outdated systems are causing errors in payroll and making it hard for employees and managers to gain access to core workforce-related data such as holiday balances, time off accruals, time-cards, planned work schedules, overtime worked, etc. This results in line managers and HR and payroll departments answering queries, which could be avoided if you were using a system that ensures payroll accuracy and gives staff self-service access to their personal work-related data.

7. Outdated systems are putting payroll at risk

Paying staff accurately and on time is fundamental to all businesses — get it wrong and you risk your business reputation and the respect of your teams. Manual systems often mean you are reliant on certain individuals for their process knowledge and experience. If they choose to leave, you could be in trouble. Running old and unsupported systems puts you at risk of software or hardware failure. You need a solution that is easy to use. With cloud delivery, you avoid installation and maintenance headaches and enjoy frequent software upgrades sooner while allowing your IT staff to focus on core business initiatives.

Position yourself to avoid these hazards by downloading our solution worksheet!

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