8 Business Boosting Benefits of Time and Attendance Software
On average, Americans work an average of 34.4 hours a week.
If you run a business, your time is valuable. When time is lost, a company suffers from a lack of efficiency and productivity.
But tracking time is time-consuming itself. Fortunately, there are time and attendance software tools that can help you out with this problem.
Here are five reasons why time and attendance software will benefit your business.
1. Reduces Time Spent on Timekeeping
When manual timesheets are no longer needed, employees can spend their time more productively.
And because it’s easy to track employee hours and attendance data with automated software, managers have the information they need without having to dig through stacks of paper or sift through multiple spreadsheets.
When there is less “data entry” involved for you as an employer, you’ll put more time into the essential elements of management, such as planning and decision-making.
2. Improves Accuracy
Timesheet errors are a huge problem.
With manual timesheets, there’s no accurate way to track employee hours or attendance data. You’ll depend on employees to provide accurate information, which isn’t always the case.
However, using employee time tracking software that automatically calculates the number of hours an employee has worked means, it’s virtually impossible to make any mistakes.
Employees can also sign in or out for breaks and lunches with the click of a button, which means you don’t have to worry about lost timecard data anymore.
With this information at your fingertips, you’ll be able to make informed decisions about your employees’ schedules and even save money by hiring the right number of workers for each shift.
3. Keeps Employees on Task
When employees know they are being monitored, their behavior changes.
This is beneficial to your business because you’ll have more focused workers who care about getting the job done right. For example, if an employee knows that their manager will see when they leave work early on a Friday afternoon, there’s less chance that person will clock out early.
Employees will also take fewer breaks and work at a more consistent rate, resulting in the same amount of productivity over time. You won’t be experiencing cases of bursts of energy followed by long periods where nothing gets done.
4. Provides Easy Access to Information
You can’t make decisions without the correct information.
When it comes to managing your employees, you need detailed and accurate reports about their productivity and attendance habits. This is where the best time tracking software shines. All of this vital information will be available at a glance in one simple viewing platform.
You’ll no longer have to rely on spreadsheets or stacks of paper for tracking time-off requests, lunch breaks taken, work hours logged, absences documented, sick days used up, and more!
With everything organized into an easy-to-read format that lets managers see each employee’s schedule by day, week, or month — along with any overtime worked — they won’t miss anything important anymore.
This allows you to plan and determine the best scheduling options for your business, which will allow it to run more smoothly.
5. Accurately Measures Productivity
Managers have to keep an eye on their employees’ productivity.
Productivity is key in growing a business, so you need tools that let you measure it accurately and consistently. When timesheet software tracks employee hours, the information will be more dependable than ever before.
With accurate productivity data, you can make decisions that will keep your business on track for success. You’ll know what employees are worth their salary and which ones deserve a raise or promotion.
6. Saves Money
You have to watch your bottom line.
It’s a simple fact of business ownership that you need to keep costs low for profits to rise.
Timekeeping software is an easy way to reduce expenses while increasing productivity at the same time. If employees are clocking in and out accurately, you won’t have to worry about paying them for the time they didn’t work.
Also, accurate attendance data lets managers schedule the correct number of workers for each shift, meaning there’s no wasting money on unnecessary labor costs.
7. Helps You Comply With the Law
Depending on where you live, it could be illegal not to keep track of your employees’ time.
This is another reason why automated project time tracking software is so important. You need to keep records of all the hours your employees put in each day, including overtime. Without accurate information about who worked what and when they did it, you could end up with thousands of dollars in fines.
The Fair Labor Standards Act (FLSA) requires employers to keep accurate records of employee hours. As a business owner, you are responsible if any of your workers claim they didn’t get paid for time worked. Or say their employer failed to pay them the minimum wage required by state and federal laws.
Keeping an eye on time with software helps avoid these sorts of legal issues. In case of disputes, managers can pull up the relevant data and show that employees were paid for every minute they worked.
8. Integration With Payroll
The best timekeeping software is fully integrated with payroll processing.
When buying a time tracking program, be sure to choose one that can send data directly to your current system for payroll processing. This will save a ton of time and effort because employees won’t have to fill out paper forms or submit reports for their paycheck calculations.
Integrating time and attendance tracking software with payroll will get everyone paid on time every pay period. This is a key factor for employee retention, too — especially in today’s competitive job market.
Get the Best Time and Attendance Software
Automated time and attendance software is the future of business management. With all its incredible features, you’ll wonder why you didn’t make this switch sooner.
Thanks to timesheet programs, every aspect of your business — from productivity to legality — will be improved with accurate data at hand. You can rely on this type of information when making crucial business decisions.
Are you looking for time and attendance software that fits your company’s needs? PriceItHere.com is the best place to get unbiased advice from experts about all things business-related. We’ll help you connect with suppliers, get valuable buying advice, and even help you choose the best service.
If it sounds like we’d be a good fit together, contact us today to start building your dream business.