Employee management is the process of handling employee-employer relationships and interactions to better achieve the stated goals and mission of a particular company. Easy right? Well, if you run or manage a business, you know that employee management is one of the toughest and often more frustrating items on your to-do list. Employee management can be complicated and convoluted if you don’t first equip yourself with the proper tools.
You know your business is only as good as your employees. After all, employees are the lifeline of any business. With the right tools (like an effective employee management system) you can elevate your business and retain satisfied customers while simultaneously reducing administrative burdens for you as the business owner. Perhaps, more importantly, the implementation of the right tools can also increase employee satisfaction and engagement, as well as the overall health of your business.
Let’s look at how to automate your company’s employee management, making your life easier and your business more profitable in the process.
What is an employee management system?
An employee management system is a system designed to simplify employee record keeping throughout an organization. Basically, it simplifies the process of, well, managing your employees. Through employee management systems, you can standardize and automate specific management tasks, such as employee monitoring and payroll.
You can integrate an employee management system into your point of sale (POS) system. By keeping track of your employees through an objective, automated system, you can improve employee management, encourage goals, and watch your business run more smoothly, all while increasing your sales.
Let’s look at some ways an employee management system can improve your business (and your stress level).
Streamline timekeeping and payroll.
Everyone’s favorite — timekeeping and payroll. (Kidding, of course). Tracking your employee time clock and running payroll is not exactly on your or your employees’ favorite things-to-do lists. However, with the right employee management system, you can streamline and automate these functions, easing administrative burdens, while also keeping you in compliance.
For example, by implementing employee management systems in your business, you can enable your employees to access a time clock directly through your POS system. Your employees can then clock in and clock out by using unique employee codes assigned to them.
Additionally, your employees can check their hours throughout the work week by logging into their profile or viewing a public dashboard. No more piles of timesheets. That alone, makes an employee management system worth its weight in gold!
Further, as an employer, you don’t want to get in hot water with payroll and overtime laws. With an automated employee management system, you can create and maintain timely and accurate payroll records, especially during peak times - such as the holidays - that may demand overtime hours from your team. By keeping appropriate records of payroll, you can reduce errors and discrepancies in your employees’ pay, keeping your employees happy while you do it.
Assign employee roles & ease scheduling.
Another perk of employee management features now being built directly into POS systems is the ability to assign employee roles, giving specific employees access to your point of sale. For example, you can assign roles such as “administrator,” “manager,” “cashier,” or “staff,” giving each position a specific level of access.
Employee management systems also allow you to ease scheduling burdens. Your employees’ schedules can be maintained and tracked through your POS, letting you know who needs to be at work on what day or for which shift. Need to make a last-minute scheduling change? Not a problem! Just log into the system and make an update.
In an employee management system, you can track your employees’ goal progression, for example, the number of sales or interactions with customers. By setting benchmarks for each employee (and then tracking their progress toward achieving these goals) everyone will have a sense of ownership related to your business. Employees will know what’s expected of them and you’ll know what to measure.
According to the Association of Certified Fraud Examiners, businesses lose 5% of their annual revenue to fraud and abuse. Small companies are typically more vulnerable to fraud as they lack the appropriate internal controls needed to identify such risks. With an employee management system, each transaction is assigned to the employee who assisted with or completed the sale. With each task monitored closely, employees are less likely to commit theft or fraud while on the clock.
“If you can’t measure it, you can’t improve it.” Truer words have never been spoken. However, these words have even more weight as they were uttered by “the man who invented management,” Peter Drucker. By way of example, you can keep tabs on your employees and profits with easy-to-understand reports created from anywhere, at any time. You can track employee performance by volume or number of transactions. You can create flash reports on employee’s discounts, payment methods, net sales, taxes, tips, and voids. Additionally, you can filter transactions by employees, giving you more insight into each team member’s role and contribution to the business.
By understanding each employee’s contribution, you can more easily (and more objectively) determine your top performers. For example, who is generating the most sales? Who isn’t hitting their monthly goals? By objectively measuring your employees’ performance, you can more readily make needed staffing changes, offer additional training, or reward employees in a timely manner. Robust and accurate reporting lets you analyze your employees and your business at a glance, while also providing you with an objective basis for decision-making regarding staffing or employee conduct.
Team up with experts.
With the right employee management system, you can get access to the employee hiring, scheduling, and management tools you need to get your staff firing on all cylinders. First, however, you must find the right merchant services provider.
At North American Bancard, we partner with merchants of all types and sizes, reducing fees while helping them grow their businesses. We can help guide you through the setup of your POS and employee management systems for your brick-and-mortar or online store. We have the technology you need to adapt to consumer behaviors by accepting payments in the modern world, providing you with seamless integration. We’ll even help you tailor your POS and employee management system to specific business needs, giving you peace of mind. To set up a consultation, contact us here or give us a call at 877.840.1952.