How Time and Attendance Tracking Could Benefit Your Company
Automated time and attendance tracking isn’t as widely used by employers as you might think. A recent Paychex survey determined that as much as 20 percent of small business leaders – and 34 percent of those with up to 19 employees – still use paper time sheets to track and report employee time.
In today’s increasingly digital world, this outmoded practice can place a small business at a distinct competitive disadvantage. HR teams are well-positioned to make the case for time and attendance tracking solutions that offer significant benefits to both the business and the workforce.
Here are some key advantages to bolster your case for implementing the use of sophisticated time and attendance software:
Saves time and money
Paper-based systems can be time-consuming both for those charged with calculating payroll and for the wait-time for payment, which can lead to employee dissatisfaction. There's also a greater likelihood of payroll delays when an employer must adjust to changes in state and federal payroll regulations.
Time-consuming tasks also translate into resources squandered by the organization. An integrated time and attendance system can sharply decrease expenses related to the collection, management, and data entry involved in a manual system.
Reduces employee errors
Employees using a paper-based time and attendance system sometimes neglect to complete their timesheets when they're supposed to. Later, in their attempts to recall precise information, they end up guessing about the time they arrived at work, the length of their lunch breaks, and what time they left for the day. Such errors can lead to employers paying for time not actually worked.
Automated time tracking and reporting can reduce the risk of data-entry errors by importing employee hours directly into a payroll system. Time collection options like badges, biometric technologies, keypads, web entries, and smartphone apps can also cut the rate of lost-time instances and boost employee productivity.
Time-consuming tasks can translate into squandered resources. An integrated time and attendance system can sharply decrease expenses related to the collection, management, and data entry involved in a manual system.
Tracks time and attendance accurately
Money lost to unscrupulous employee time-keeping practices can be significantly reduced, if not eliminated, by an integrated time and attendance solution.
Buddy punching, for example, "is the act of hourly, non-exempt employees who record their time on a time clock, punching a co-worker in and out when that worker isn't present," notes Payroll HR services area manager Matthew Keup.
State-of-the-art identification equipment, from Wi-Fi biometric-enabled time clocks and iris recognition technology to tablet kiosks and mobile time clocks with GPS technology, can be effective at combating this distressing trend.
Enhances productivity and job satisfaction
An efficient and accurate system enables employees to focus more intently on their job responsibilities. Rather than getting caught up in filling out forms and double-checking to ensure accuracy, employees know their next paycheck will be received on time and accurate. This removes a considerable amount of potential stress and distraction from the workplace.
A small business cannot afford to let manual time-tracking processes drag down productivity. You may want to consider automated time and attendance tracking options like Paychex Flex® Time that can deliver significant benefits to both the business and the workforce.