By Teresa Levis
After more than a year of dealing with a dismal pandemic, America’s construction industry is bouncing back from the COVID-19 crisis with an expected growth rate of 15.6% this year, according to ResearchAndMarkets.com. With this predicted upturn comes the opportunity for construction companies to leverage the right technology to increase their growth, attract new talent, and remain compliant.
As manual tracking of employee time, activities, production, and payroll informaiton can reduce efficiency, leveraging a human capital management (HCM) solution is critical to addressing the evolving complex HCM needs of the construction industry. By utilizing a robust platform to handle a company’s payroll tracking, attendance management, and training to remain compliant gives HR managers more time to focus on what matters: company employees.
For example, construction managers are all too aware that as today’s workforce becomes more complex, so does payroll management. That’s where HCM solutions come in. Rather than burdening HR manager’s with time-consuming payroll management tasks, adopting the right software will alleviate the daunting administrative tasks placed on HR professionals and free them up to focus on value-added tasks for the organization.
Here are three examples of how a robust HCM platform can address the needs of construction companies:
1. INTEROPERABILITY BETWEEN PAYROLL AND ATTENDANCE
Many companies continue to use antiquated technology to manage payroll and attendance separately. Utilizing software that combines the two increases efficiencies and accuracy by automating the application of complex performance based pay structures and addressing each employee’s varying pay, so HR managers don’t have to do it manually.
2. ACCURATE EMPLOYEE CLASSIFICATIONS
Part of managing a complex pay structure is ensuring each employee is accurately classified, whether they be an independent contractor or a full-time employee with an extensive benefits package. Guaranteeing that employees are appropriately classified helps take the burden off the HR manager, but most importantly, it ensures the company is regulation compliant. Misclassification comes with significant penalties from a state and federal tax revenue perspective.
3. EFFICIENT TIME-TRACKING PROCESSES
A time tracking system ensures the time, labor, and production data is collected efficiently and accurately and is the source to valuable business data analytics. Field employees can utilize technologies, such phone-in, mobile, tablet, and portable devices in order to accurately collect activities when and where they occur. Finally, an automatic time-tracking system helps keep companies compliant with the Fair Labor Standards Act (FLSA) regulations.
After reviewing the above capabilities available to the construction industry, companies should remember that the purpose of investing in HCM technology is for the benefit of employees. After all, they are a company’s most important asset. Investing in their people is the best thing organizations can do for their business’s operations, reputation, and functionality.
About the author:
Teresa Levis is the vice president of presales at Ascentis. She has more than 30 years of experience in the HCM industry, with a focus on helping clients meet their needs through change management, technology, and best practices. As a senior leader with Ascentis, her teams’ focus is working with companies to align their business strategies and processes to solutions. For more about workforce solutions, visit www.ascentis.com.
Modern Contractor Solutions, July 2021
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