Chelmsford, Mass. Kronos Inc. has announced a new service to uncover significant labor cost savings through detailed analysis of an organization’s time and attendance information.
The Diagnostic Assessment analyzes an organization’s existing time and attendance data to uncover excess labor costs in areas such as overtime; schedule effectiveness; time that is paid but not worked; and absenteeism.
The tool, said Kronos, also finds trends and outliers in each of these areas, and uses the organization’s own historical performance to identify root causes contributing to the excess labor expense. A report following the assessment details potential areas of savings and recommends actions to reduce labor expense and improve workforce performance.
“The Diagnostic Assessment does not require deployment of any new technology,” said Christopher Todd, VP of services for Kronos. The service is performed using the Kronos Workforce Analytics labor analytics application, said Todd.