Benefits of Implementing Time Clock Software into Your Business
Time is money, right? Well, not entirely, but it’s still important enough to implement clock software into your business. By adopting advanced time and attendance tracking systems, you will gain access to a number of benefits from both a personal and a professional perspective.
1. Employee Accountability
Employee accountability is the idea that a business owner can hold his or her employees responsible for the work they produce. When employees are held accountable for their time, accuracy, and productivity, they’re more likely to be on time to work and perform their duties as expected. Achieving employee accountability in a small business is important for measuring employee success and improving overall performance.
One way to improve employee accountability is by implementing clock software into your business. If you’re unfamiliar with the product, clock software is an employee time tracking system that allows employers to monitor their employees’ hours, schedule shifts, and track labor costs.
Employee accountability is improved. Using a time clock software system can improve your employees’ accountability because it accurately tracks their hours worked, including any overtime hours they may have accumulated throughout the month.
2. Payroll Processing
Payroll processing is the process by which an employer pays employees. Depending on the size of the organization, paychecks may be created manually or automatically and can then be distributed by direct deposit, mailed checks, or pick-up. The payroll process may also involve paying employee benefits and calculating and paying payroll taxes.
Clock software helps reduce the time needed to complete payroll processing by automating some of the processes. First, a clock software system will keep track of each employee’s time worked, which eliminates the need to calculate hours manually. Second, clock software will also calculate overtime according to company policies and government requirements. In addition, depending on the software chosen, your business may be able to integrate it with your current payroll software for even greater efficiency.
3. Eliminate buddy punching
Buddy punching is when one employee clocks in or out for another employee, who takes advantage of their generosity by showing up late or leaving early. Buddy punching is typically done because the employee wants to get home to their family or because they want to run an errand before work. Regardless of the reason, buddy punching costs companies thousands of dollars each year by reducing productivity and increasing payroll costs.
Implementing clock software into your company’s daily routine eliminates buddy punching and helps increase your company’s profits. That’s because clock software requires employees to clock in and out using either a fingerprint scan, pin number, or facial recognition.
When using any of these methods, it will be easier for you as an employer to keep track of who is coming in and out of the office each day. And since there are no longer paper time cards available for employees to punch in and out with, there will be no more time clock sharing between coworkers which means no buddy punching.
Mobility by definition means “the quality or state of being mobile.” When it comes to working, mobility means the ability to be flexible in the working environment and have accessibility to work outside of a normal office setting. This is a huge benefit for many businesses and allows your employees to be much more productive whether they are at home or out of town at the time.
Clock software allows you to track all employee hours in real-time through any device. This is a tremendous benefit for your company because all employees can easily clock in and out as necessary, regardless of their location. Employees can also have access to time-off requests and other benefits through the clock software, which increases productivity while on the job and away from the office.
Eliminate time theft
Time theft is when an employee is getting paid for the time they aren’t actually working. It’s the act of rounding up their hours, showing up late or leaving early, taking long lunch breaks, or taking extra-long breaks throughout their shift. The most serious form of time theft is when an employee clocked in but didn’t show up for work at all, known as buddy punching.
Implementing clock software into Your Business helps eliminate time theft, manual errors, and payroll headaches. Clock software is a useful tool for ensuring that employees are paid for the hours they’ve worked and nothing more. Employees who regularly work overtime or work an irregular schedule may be more inclined to fudge their timesheets in order to get paid for more than they’ve worked. With clock software, you can ensure that your employees are paid fairly while also saving on payroll costs.
Choosing to implement clock software into your business is a great decision because the software will help you to identify areas where you can improve productivity, and it can provide you with data showing where there are inefficiencies, thus allowing you to fix those issues. The other benefits of clock software mentioned above show just how beneficial this software is and why every business would reap the rewards of getting such a sophisticated productivity tool.