Over the last 30 to 40 years, an increasing number of American companies have been moving their manufacturing production to Mexico. It hasn’t been until recent years, though, that this has gained a lot of national attention.
The main reason for moving a company’s manufacturing to the neighboring country to the south is the significant reduction in operational and labor costs that are realized. U.S. companies can realize operational savings in lower purchase or lease costs for industrial office space. In fact, some studies suggest companies can see an 11 percent to 12 percent reduction in tax rates by moving manufacturing operations to Mexico.
From a labor standpoint, Mexico offers a pool of workers who are becoming increasingly educated, but still work for far less than those in the United States. Compared to the U.S., companies could possibly save anywhere from 50 percent to 70 percent on labor costs, depending on where the company’s manufacturing operations would be located in the United States.
In today’s very competitive business marketplace, every dollar counts. As the saying goes, a dollar saved is a dollar earned – except, today, it might be better stated as a dollar saved is $10 earned.
Moving your company’s manufacturing operations to Mexico certainly wouldn’t come without challenges and barriers to overcome, of course. In addition to dealing with compliance, regulations on accounting, governmental and environmental regulations, companies that move their manufacturing to Mexico also have to deal with managing a complex workforce from a remote location.
In these situations, it’s essential for companies to have a robust time and attendance software system in place to make the process of managing employees and deploying schedules as easy as if all the workers were in the same location in the United States.
How Mitrefinch’s Time and Attendance Software Can Help
There are large companies in the United States that are dealing with similar challenges as the ones mentioned above. They may have close to 1,000 employees stationed at manufacturing facilities in Mexico that they need to deploy a schedule for, and then effectively track their production and manage their time.
What Mitrefinch offers is a cloud-based solution to handle everything these companies may need. From managing time and attendance, to payroll integration, to regulating access to sites, to using the cloud effectively, to HR management, companies can do it all remotely by using an impressive platform.
Companies that have a large staff that works from a remote location often face challenges of not only creating and deploying a complex work schedule, but also providing an easy way for employees to clock in and out of work, while at the same time ensuring the employees are where they say they are. This becomes even more difficult for U.S. companies who move their manufacturing operations to Mexico.
Mitrefinch’s time and attendance software solves all of these problems for these manufacturing companies from one simple platform.
First, the software allows the company’s leaders to create and disseminate the work schedule to the entire workforce, allowing each employee to view his or her schedule from a computer or mobile device.
Second, the software allows employees to clock in and out of work various digital ways, with even impressive options such as biometric scanning.
Third, the software allows companies to track their employees in real-time, if they wish, by using GPS tracking technology on the employees’ devices.
Mitrefinch’s software then collects all this data, sorts it and feeds it to other systems such as payroll or for reporting purposes back to the company’s leaders.
Time and Attendance Software Cuts Down on Costs and Makes the Process More Efficient
The biggest benefit to time and attendance software platform is it actually saves companies money while making their operations more efficient in the meantime. In the U.S. alone, the annual cost of lost productivity due to absenteeism exceeds $84 billion. This software tool can help eliminate the headaches associated with managing time and attendance, especially for companies that must deal with complicated hurdles such as manufacturing in Mexico.
The platform also provides an easy way for companies to designate particular groups of employees on different pay scales, and with different benefits such as more or less paid time off. Built-in Business Intelligence of time and attendance platform also allows employers to manage and track not just regular working hours, but also overtime hours and PTO that each employee requests and takes.
One of the biggest benefits to using the cloud-based platform is leaders can manage and monitor every aspect of the system from wherever they are in the world, from computers, laptops and even mobile devices. And, at the end of the day, since the platform can integrate directly with your company’s payroll system, it cuts down significantly on the time normally spent manually managing written timesheets – reducing impossible-to-avoid mistakes that are made along the way.
Mitrefinch is uniquely positioned to serve U.S. companies that move their manufacturing operations to Mexico, as their time and attendance software interface can be localized in Spanish for the workers in Mexico, if needed.