7 Ways Manufacturers Use Technology to Simplify Reporting
Posted on March 31, 2014
A recent Paycor survey of small to mid-sized U.S. business shows that as manufacturing has become increasingly high-tech, business leaders are relying more on online reporting tools to manage their people processes, rein in expenses and stay compliant with the changing legal landscape.
Here are seven reporting best practices of manufacturers:
# Create earnings reports by department to monitor and control costs
# Automate tracking of hours and earnings for state monthly payroll and Workers’ Compensation reporting
# Build monthly reports specific to the requirements of controllers and unions to determine benefit eligibility under the Affordable Care Act
# Summarize data for a set period of time to simplify payment of bonuses based on attendance or other metrics
# Customize reports for hourly rates, earnings, overtime and vacation to facilitate communication between finance and executive management
# Develop reports per pay period to calculate 401(k) match and deferrals, insurance payments and loan payments
# Compile birthday and anniversary lists by department to share with managers as an employee-relations tool
How is your company tracking and using data such as labor costs, benefit eligibility and employee information? If you’re still relying on spreadsheets and file folders, take heart—Paycor can help. Our robust Custom Reporting tool empowers you to gather the information you need in one central location to save you time and provide actionable insights into your business’ inner workings.
Want to learn more about how Custom Reporting can work to your advantage? Connect with Paycor today.