The number of people in the U.S. filing first-time jobless claims reached a 26-year high while companies squeeze more productivity out of their remaining staff, underscoring the deepening deterioration in the labor market.
“It’s astonishing how quickly American businesses are laying people off,” Roger Kubarych, chief U.S. economist at UniCredit Global Research in New York, said in an interview with Bloomberg Radio. “They’ve learned that they have probably had too much staff for the kind of economy they foresee and they’re laying people off left and right.”
It seems that every day there are reports about 1000's of additional layoffs. In an ever-depleting market it is vital for organizations to ensure they are being paid for every billable hour possible.
After a reduction in workforce the remaining team members are juggling even more tasks, are in additional projects and need to stay on time and on budget in order to allow the organization to continue normal operations. This is one of the key advantages of using an application like timesheet software for time and project tracking where users can see where their tasks and projects stand at any time with much of the administrative work of project management removed due to the automation of mundane tasks.
Managing employee transition and reassignment, even in good times due to health or personal circumstances, can be very costly with project timelines slipping and knowledge being lost due to the nature of on-premise solutions. A good time sheet application will allow you to manage all resources in one centralized solution that is accessible by anyone with permissions, removing the hassles associated with employee reassignments to any project or task.
In our volatile and financially stretched economy, an automated time tracking solution would have a near immediate ROI for organizations of any size. Replicon’s time tracking software, Web TimeSheet, has continued to be adopted by small to medium enterprises as well as global leaders such as Barnes & Noble, Deloitte, Ernst & Young, Fujitsu, Shell, Siemens and Verizon.
We recommend you check out Web TimeSheet in action by taking a free trial or quick tour to see how it can enable your business address time tracking problems effectively and efficiently.
