ROI already calculated at more than $4 million per year
Scottsdale, AZ — May 17, 2004 — Employee relationship management (ERM) provider Kronos Inc. today announced that Cendant Corp., a worldwide provider of travel and residential real estate services, has expanded its Kronos rollout by purchasing an additional 40,000 Workforce Central suite licenses to accommodate its current workforce and further organic growth. Cendant is now licensed to accommodate 100,000 employees on a single database, using Kronos' centralized, Web-based time and labor solution.
"MyTime," the internally branded name for the Kronos solution, is currently being rolled out to Cendant's entire workforce across its 40 different business units, including its real estate services such as Century 21 and Coldwell Banker; hospitality services such as Days Inn, Howard Johnson, Ramada Inn and Super 8; vehicle services such as Avis and Budget; financial services such as Jackson Hewitt Tax Services; and travel distribution services such as CheapTickets.com.
With the goal of every employee using the Kronos solution on a daily basis, Cendant said it is using the system in every possible way to support its best practices approach across all lines of business.
The director of project integration within Cendant's Human Resources Technology Solutions team, Susan Story, will present the Cendant "MyTime" story at the 2004 Time and Attendance Symposium this week in Scottsdale, Ariz.
She commented that the Kronos implementation team has done, and continues to do, a good job in setting best practices within Cendant. "Cendant is an extremely unique company with large and diverse employee populations. We realize that each of our business units — our internal customers — have unique needs and that we have to respond accordingly while also keeping our 20,000 managers on the same page by standardizing our processes enterprise-wide," continued Story.
Cendant said it has already realized a return on investment (ROI) from the solution, mostly derived from calculating accurate accrual balances for employees. By tracking paid time off (PTO) in real time, Cendant explained that it is able to minimize the liability of paying out inaccurate leave balances. Adding to the return is the elimination of printing and distributing paper timesheets, and eliminating expensive support of decentralized locations with multiple interfaces.
An additional $1 million per year has been calculated from a boost in employee productivity with "MyTime." Cendant said thousands of employees are able to maximize their time spent on high-value activities and minimize time spent on low-value, manual timekeeping.
Overall, Cendant has used Kronos to drive cultural change, including manager self-service, time accrual and human resources policies represented online. Providing managers and employees with self-service functionality to verify time records, PTO, schedules and approvals is eliminating errors, such as miscalculation of overtime and shift differentials.
Cendant also said that better decision-making and proactive workforce management are two additional results of managers' access to Kronos' extensive reporting capabilities and real-time actionable labor information.