Annualised Hours

Provide greater employee flexibility, reduce overtime and increase productivity.

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· Increase Flexibility to Seasonal Demands
· Reduce Overtime & No. of Temporary Staff

· Deploy Quickly in Times of High Demand
· Improve Productivity and Reduce Costs

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What are Annualised Hours?

Annualised Hours are an effective way to remove overtime and increase flexible working time. It is a system that many industries have adopted as an alternative to traditional methods where employees are paid hourly, weekly or monthly.

In simple terms, annualised hours system calculates employees’ hours based on a whole year, rather than monthly or weekly. It is an arrangement where an employee works a specific number of hours a year, which can vary from month to month or even week to week.

Annualised Hours Formula

No. of weeks * No. of hours per week = Annual Hours

EXAMPLE

Typically, annualised hours are based on a 35-40 hour week. For example, a person working a 39-hour week, with annual leave of 5 weeks and 1.8 weeks of public holidays, equals 45.38 working weeks.

Annual Hours = 45.38 weeks x 39 h/per week = 1,770 h

PROS

Increased flexibility to cope with seasonal demands
Cost-effective due to the reduction/elimination of overtime
Rapid deployment in times of higher demand
Improved productivity, greater customer satisfaction and increased profits
Reduction in the number of temporary staff and the associated training costs
Higher level of regular and stable pay for employees
Greater security for staff as the threat of lay-offs due to business fluctuations is reduced
Opportunity for employees to balance work with commitments outside of work
Most importantly – Steady income for the employee and fixed costs for the business

CONS

It can be difficult to accurately estimate future work demands
It can happen that employees get paid for the hours that they might not do in the end
It is hard to stay in contact with the employees over periods when they are not working

What We Do – The Softworks Story…

From Time and Attendance Tracking to a complete Workforce Management Solution…

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What we have gained is better rostering, better control, comprehensive records, better reports and functionality to make changes or to test if proposed changes would work.
Bon Secours Health System

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The automatic and to the minute Flexitime calculations and the automatic holiday calculations for employees have significantly reduced administration and manual tasks.
Jewelcast

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The System allows us to operate at multiple sites with the data being transferred to a central server.
Newbrook Nursing Home

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Softworks has had a tremendous impact on the organization’s ability to be more efficient with time tracking, reporting, legislative compliance around confidentiality and privacy, and have better business outcomes.
Aids Committee of Toronto

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Team leaders appreciate the fact that they can now plan more easily and that it’s much simpler to manage holidays and flexitime for their teams.
Fusion Antibodies

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Employees find Softworks very user-friendly, they like the fact it’s easy to navigate and it’s updated in real-time, being able to check their clock cards and track actual time worked and bank time in lieu.
Aran Biomedical

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Overall we are very happy with Softworks as it provides a much quicker and more accurate way of controlling everything from clock-in to wages payout and storing personnel information.
Dortek