How to Decrease Costs & Increase Engagement
In uncertain economic times leaders look to reduce expenses, but cut too deep or trim the wrong budgets, then employee
engagement, productivity and retention can take a hit. You need a strategy that manages to both control costs and increase
overall engagement. Here’s how to do it.
In this book you will find center of
- When you hire and retain new employees from certain groups
of people who may need help finding jobs, you can get tax
credits of up to $9,600 per hire.
- PwC found that outsourced payroll can be nearly 30% less expensive
than in-house. Hidden costs, like installing and maintaining the system
plus the time it takes to collect, approve and prepare employee hours for
payroll processing, drive up the in-house price tag. The other big advantage
is compliance expertise. Even the most innocent payroll or tax filing error
can be costly.
- Human error in timecard prep is between 1% and 8% and three
quarters of companies fall victim to timecard fraud (American Payroll
Association). If your schedule isn’t perfect—if there’s any error in either
direction, too little coverage or too much—then you’re wasting money.
Not all overtime is bad, but when it’s a surprise, it can be expensive.
The only way to solve the problem is to be able to forecast overtime
expenses accurately and consistently.
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