Timerack

The concept of fluid workforce is not new. Today, its prominence has grown tremendously with the rise of the millennial workforce that juggles multiple jobs. While this new generation of employees comes with flexibility and adaptability, on the flipside, the shift toward multi-employer focused workforce has put businesses under tremendous pressure to adapt their cultures, processes, and systems to capitalize on the potential of the liquid workforce.

The question that thus arises is: how can businesses build and retain the desired corporate culture when 30 to 50 percent of their workforce is not permanent employees? The answer lies in building an employee-centric, engaging work culture that also boosts retention.

Since 2013, North Carolina-based Timerack is at the forefront of helping businesses seamlessly accommodate the needs of the fluid workforce. “Within the HR workforce management industry, there is this payroll-HR trinity, a three-legged stool of payroll, human resources, and time and attendance. We provide two of those core legs: human resource and time and attendance systems,” says Adam Day, president and CEO, Timerack. Their all-in-one solution serves as a rule-based system that steers clear of prejudice and ensures each employee is treated equally. This ultimately builds a trust level between the employee and employers.

In essence, the Timerack platform enables businesses to automate timekeeping and payroll as well as manage HR administration, all in one place. Companies can leave behind spreadsheets and time-consuming manual data entry and get real-time dashboard reporting and full analytics of all employee hours. As a cloud-based solution, the time and attendance software comes with the advantage of scalability and can easily accommodate geographically distributed remote and in-office employees. Timerack collects the data required from various sources such as web-based clock systems, biometrics, facial recognition, pin entry, badge readers, and more.

Besides, the platform’s mobile version—with geo-fencing and GPS location tracking capabilities—enables simple time tracking and real-time monitoring of employees out in the field. What’s more? Timerack can also be easily integrated into all major payroll systems, allowing clients to automate payroll coordination.

In essence, the Timerack platform enables businesses to automate timekeeping and payroll, manage HR administration, all in one place

“Having accurate, unprejudiced work data ensures that the employees are paid right, unlike manual entry, which is prone to errors,” informs Day.

From an HR perspective, Timerack effectively manages the entire employee lifecycle and has built-in integrations with payroll systems for payroll management, cheque creation, and benefits tracking. “Businesses can handle all their employees’ needs, from applicant tracking to onboarding, performance reviews, and workers comp administration within Timerack HR,” avers Day. Furthermore, the HR administration system also integrates seamlessly with the Timerack time and attendance platform, providing an end-to-end time tracking and HR solution.

Timerack’s foundation is built on three primary tenets: listen, adapt, and serve. “We listen to our clients and our employees and adapt to the current marketplace based upon the requirements of our customers. We avoid building roadmaps that have no relevance or return for our clients, even if it is using a cool technology. And, we stay very focused on client retention by serving back to our client base,” highlights Day.

A testament to Timerack’s competency in helping businesses better manage their most valuable resource—time, can be seen in their payroll referral or reseller relationships. A payroll company was looking for hooks to retain their client and increase their revenue per client. “By partnering with us, they were able to improve their annual revenue by over $100,000. Besides, they were also able to service larger types of clients and retain them by adding our service to their portfolio,” reveals Day.

Moving ahead with many such success stories under its hood, Timerack is poised to revolutionize the HR space even further in the coming months. To that end, the team is looking to launch a new AI-based punch system, Intela Punch, for the staffing industry. The system will leverage AI/ML to gather information on the history, patterns, and assignments of an employee. “In the staffing industry, there is a very high turnover rate. Many of our clients spend their precious time training employees how to punch at the terminal. We are eliminating that by simply offering the employee a card identification number. All they have to do is show up at the terminal, key that number in, and we guide them through the process. There is no training involved,” states Day. Timerack will roll out a mobile version of the software at the end of Q3 this year and a kiosk version in Q4.