Retailers Achieve Fast Payback with Kronos® Workforce Management Solutions
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30 September 2009 — From ensuring an optimally scheduled store to selecting the best-fit associates, retailers must make effective workforce decisions. Retailers are increasingly turning to Kronos® to control labour costs, minimise compliance risk, and grow revenue. And they are increasingly citing fast payback as a result.
News Facts
- Kronos helps retailers automate workforce management business processes such as time and attendance, budgeting, forecasting and scheduling, absence management, hiring, and labour analytics.
- Automation of these processes can result in immediate payback and ROI by minimising payroll inaccuracies, increasing conversion rates and sales, reducing unnecessary overtime, and decreasing employee turnover.
- According to a recent study by AMR Research, retailers reported 3.8 percent of lost sales due to non-optimised labour scheduling, and 3.5 percent decrease in payroll costs as a result of implementing a workforce management solution.
- Using Kronos, a mid-size grocery retailer cut overtime expenses to half, saving £60,000 in one year.
- Using Kronos, a large consumer electronics retailer with more than 1,000 locations in the USA and more than 90,000 employees, reduced hourly staff churn by 30 percent and reported ROI of £1.5 million in less than 12 months.
- Kronos works with retailers around the world including Best Buy, Somerfield Stores, The Co-operative, and IKEA.
Supporting Quotes
- Adrian Peace, head of simplification and productivity, Somerfield UK
"With Kronos now holding all employee information including hours worked, availability for work, and skills, we now have complete visibility into the workforce. We rely less on overtime now that absence levels have reduced and can identify when working additional hours will take a colleague into premium overtime payments. Our premium overtime bill has decreased by £2.3 million per year."
- Nicholas Hess, senior vice president, operations, Dunn-Edwards Paint Stores
"Kronos helps us optimise our most important asset and largest controllable expense – labour. With Kronos, we are able to optimise store scheduling, leverage historical sales, customer traffic, and store profile data to derive accurate weekly sales and labour plans. No other workforce management vendor has such a comprehensive suite to enable enterprise visibility and control of store productivity."
- Kara Barker, director of retail industry marketing, Kronos
"Retailers that continue to think strategically about labour through the downturn will be better prepared to profitably handle the influx of customers once the economy improves. Based on our knowledge of hundreds of successful retail implementations, we are committed to helping our retail customers improve hiring practices, enhance customer satisfaction, and boost employee productivity to ultimately sprint – not limp – out of the recession."