First Friday Series: Tough Times Ahead for Small Business?

Nov 3, 2023

Hiring and Applicant Tracking, Human Resources Management, Laws & Compliance, Mobile and Remote Workforce Management, Onboarding, Payroll

Allie Blackham

Adding Scheduling & Hiring Tools that are Unified with Timekeeping to Set Your Clients Up for Success in 2024

Swipeclock had the opportunity to present at NAPEO’s First Friday webinar series on November 4, 2023. Review what we covered and how a Swipeclock partnership is the ideal solution for PEOs.

Challenges Ahead for Small Businesses

Your clients are facing significant headwinds as we race towards 2024. Inflation continues, profits are under new stresses, and talent shortages remain. The following are 10 of the most common challenges faced by small businesses at this time.

Economic uncertainty
Access to capital
Labor shortages
Supply chain disruptions
Digital transformation (moving from manual processes)
Regulatory compliance
Competition
Rising costs
Cybersecurity
Environmental pressure

Let’s review them each and talk about how Swipeclock solutions may offer relief for PEOs and your clients.

Economic uncertainty

Small businesses are particularly vulnerable to economic fluctuations, as they don’t typically have as much cash flow. This fact highlights the urgent need for improved efficiency.

Labor shortages

Increasing difficulty in finding good candidates and competition demand proactive tools. Speed and efficiency win the day. Training and onboarding are the best way to keep employees after hire, making them paramount to success.

Digital transformation

Converting to digital recordkeeping is key for small-to-midsized businesses. Clients using spreadsheets, whiteboards, and other manual processes are behind the times, especially considering that labor management is the largest expense, so it’s the most important area for improvement.

Regulatory compliance

New and more restrictive regulations are forcing companies to shift to compliance-oriented strategies. A focus on automated recordkeeping is vital, relying on automated notifications and alerts to stay in the loop.

Competition

More competition for fewer resources means that manual strategies will lose against digital. Automation and employee empowerment tools helps to spread the load and widen the front.

Rising costs

Economic pressure continues to cause costs to go up, so small businesses are looking to streamline. Efficiency is critical in financial stability, while automation is key to doing more for less.

Automated labor management solutions can even help the indirect challenges outlined above. Digital organization adds viability, which can support access to capital as your clients seek funding opportunities and attract new customers. Effective labor management is more flexible, helping to mitigate supply chain disruptions. SaaS solutions complement cybersecurity efforts, while improved efficiency results in higher productivity to lessen environmental pressure.

Solutions That Can Make a Difference

Focus on time and labor management for success! For small business, labor is typically the largest single expense. Automated labor management through digital transformation is critical for small business who want to build a stronger, longer-lasting enterprise. With automated systems, small business has more time to focus on productivity with streamlined operations helping to save money and resources.

Hiring, timekeeping, and scheduling tools

An automated hiring solution provides access to all the top job boards for a wider reach. Once you find the top candidate, an automated and organized process is a must. Integration with onboarding makes a smooth and efficient transition to the workforce and helps keep employees onboard longer. Once onboard, all data flows to timekeeping and scheduling, allowing your clients to set up shifts and their employees to get to work.

Scheduling tools reduce payroll errors and eliminate unplanned overtime while offering access to employee self-service and shift pickup/swap options. Notifications provide insights into who is nearing OT, missing their shifts, punching in outside the geofence, or otherwise challenging your clients’ small business budget. These tools are helpful in ensuring proper scheduling and staffing, leaving more time to focus on productivity and growth.

Why WorkforceHub is the Ideal Solution for SMB Clients

WorkforceHub by Swipeclock is an easy-to-use solution that includes hiring, onboarding, timekeeping, and scheduling tools. It’s simple to track certifications and licenses, accruals, and time off. Your clients can also take advantage of geofencing and mobile location management tools for remote employees, along with powerful integrations with popular payroll systems and PEO platforms. Swipeclock also provides Intelligent clock hardware that simplifies in-person time tracking with advanced authentication features that help reduce employee fraud.

Within the Swipeclock hiring solution, your clients can easily track the paperwork process, view completion status, and check files to ensure that employees complete all required information before moving to the next step. Onboarding and timekeeping work together, ensuring that all data is captured to one place. After completing new hire paperwork and “roundtripping” through the hiring, onboarding, and timekeeping processes, each employee is ready to move into the payroll system and start working. WorkforceHub automates the entire process from hire to first shift and payroll.

WorkforceHub also offers integration with payroll software for an automated and paperless process that improves accuracy, saves time, and decreases dependency on manual work. Take advantage of the five-step Payroll Review Wizard that includes reviewing time off requests, checking for errors or missing punches, and looking over the entire pay period. A quick check means faster and more accurate payroll processing.

Partner with Swipeclock Today!

Swipeclock launched its integration with PEOs in 2019. Since then, we have experienced significant growth. Our sweet spot is the small-to-midsized business market, although we can serve all vertical markets. With products and solutions that are easy to learn and support, your clients will love what Swipeclock offers. Plus, integration with WorkforceHub saves up to 40% in setup time. Learn more about our flexible partner programs and how each can benefit your PEO.