Turn hidden labor expenditures into measurable long term savings
Deloitte’s industry insight suggests employers may be overpaying up to 2 percent of total payroll expense through ineffective management and configuration of time and labor management practices. Laborwi$e™ can help resolve these issues and uncover bottom line savings of $200 to $800 per employee per year.
Laborwi$e™ is a cloud-based, real-time workforce analytics platform that captures and analyzes timekeeping, payroll, scheduling and policy data. Designed to enable Deloitte’s groundbreaking Labor Cost Optimization service offering, Laborwi$e™ puts cost savings strategy into action.
Laborwi$e™ is designed to help COOs, CHROs and CFOs at organizations apply root-cause analyses to identify and quantify unintended or unexpected overpayments of labor expenses. Using proprietary data algorithms, benchmarking, and data visualization technology, Laborwi$e™ provides uncommon insight into costly labor management issues that are often so hard to isolate and measure.
Accelerated extraction, analysis, visualization, and monitoring of previously hidden labor cost issues
Laborwi$e™ extracts data from timekeeping, scheduling, absence, and payroll systems to determine root causes of payroll leakage, such as inflated hours and premium pay, clocking abuse, poor controls, and scheduling. Laborwi$e™ then uses advanced data visualization techniques and specialized algorithms to put labor activity and pay practices into context and exposes the sources and cost of payroll leakage.
Actionable visualization of insights with built-in corrective action plans
Once the underlying practice or design flaws are identified, Deloitte’s proprietary remediation methodology and workforce management advisors quantify the financial impact and establish data-driven corrective action plans. Performance at every level is monitored and measured real-time. Internal and external industry data are provided to serve as benchmarking for continuous improvement.
Sustained improvement and accountability
Laborwi$e™ provides performance and accountability measures for managers and employees. Monitoring and quantifying the outcomes institutes decisions and actions focused on achieving and sustaining the savings.
Supported by the Deloitte Team
Deloitte was named the Kennedy Vanguard Leader in human capital strategy consulting services, based on breadth and depth of capabilities in HR Transformation. With Laborwi$e™, you are paired with the guidance of Deloitte professionals and the market’s leading labor tool to help your organization turn expenditures into savings.
Sign up Today
Every employer should know what their payroll leakage is and have a tool to recover unwanted costs. Reach out to our key contacts today to schedule a live demo on how Laborwi$e™ can help your organization turn hidden expenditures into savings.
Deloitte Consulting LLP