According to TLNT, manufacturing contributed $2.08 trillion to the U.S. economy in a recent year, accounting for 12.5% of the gross domestic product. The average manufacturing worker earns $77,506 per year – and yet HR faces unique challenges in the manufacturing industry:
- The workforce is shrinking: The average age of a highly skilled worker in this industry is 56, with retirement not far into the future.
- There are many positions to fill and a scarcity of talent: Manufacturing is an overlooked sector of employment. With an aging workforce and not enough invested in training, highly skilled applicants are becoming more difficult to find.
- Worker retention is a challenge: With the high demand and scarce supply of manufacturing workers, it has become a worker’s market. Instead of sticking with one company for the duration until retirement, in the current environment, more manufacturing workers are drifting from one company to another, seeking better working conditions or higher wages.
Manufacturing and Human Capital Management Software
In spite of these challenges, EPAY Systems can help reduce administrative costs and streamline HR tasks in the manufacturing industry. Our human capital management solutions can help companies recruit, staff, manage, and pay employees, easing HR’s administrative burden. Our software automates time-consuming HR processes and reduces non-compliance risks. It includes:
- Recruiting and applicant tracking: access to social networks, leading job boards, and background checks
- Onboarding: new employee onboarding videos, I-9 and tax filing, customized workflows, and e-signature
- HR management: education, OSHA and EEO reporting, and employee self-service skills
- Benefits administration: open enrollment, FMLA, FSA/HSA, workers’ comp
- Time and attendance: mobile time tracking, time clocks, IVR, compliance, scheduling budgets
- Payroll and taxes: payroll processing, payroll tax filing, garnishments, W-2s, instant gross-to-net and GL interface
- ACA: compliance tracking, 1094/1095 forms, hours worked reports
- COBRA: benefits notifications, payment administration, and compliance
Human Resource Management in the Manufacturing Industry
EPAY Systems offers comprehensive software and services for human capital management in manufacturing and other industries, with a focus on mid to large businesses.
Our software allows manufacturing businesses to mitigate compliance risks, decrease time rounding overpayments, reduce staff hours spent on HR and payroll activities, monitor budgets in real time, and take advantage of WOTC tax credits. We excel in providing solutions to HR matters such as:
- Field and hourly employees
- Complex labor rules
- High turnover
- Margin pressures
- Limited IT or HR resources
We take the time to thoroughly understand your manufacturing enterprise, so you can offload HR and payroll and focus on key business issues. Our HCM solutions can help you lower admin costs, reduce overtime exposure and labor costs, improve compliance, drive workforce efficiency, and increase the bottom line.