Provide greater employee flexibility, reduce overtime and increase productivity.
· Reduce Overtime & No. of Temporary Staff
· Improve Productivity and Reduce Costs
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
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
- 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
- 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
Annualised Hours Calculator
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What We Do – The Softworks Story…
From Time and Attendance Tracking to a complete Workforce Management Solution…
” Supervisors don’t have to worry about people forgetting their rosters or about how to communicate roster information out to employees, it’s all there in the Softworks App. “
” Employees find Softworks very user-friendly, they like the fact it’s easy to navigate and it’s updated in real time, they like being able to check their clock cards and track actual time worked and bank time in lieu. “
” The automatic and to the minute flexi time calculations, and the automatic holiday calculations for employees has significantly reduced administration and manual tasks. “
” 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. “
” 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 Toronto
” 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 pay out and storing Personnel information. “