In my line of work, I often meet with business owners at their office. When I walk in I immediately look for a timeclock or other timekeeping system (such as a Point-Of-Sale or “POS” system). I am amazed at the number of businesses who either do not have a formal timekeeping system or the number of businesses who still consider paper punch-cards as “timekeeping”.
The biggest advice I can give a business owner is “you need to keep track of the time your employees are on the clock”. This advice does not mean a notebook with handwritten hours for each employee or a paper timecard. Yes, the paper timecards are better than a handwritten note in a notebook. But with the advancement in technology today with various web-based time clocks and even GPS timekeeping systems that can monitor employees who are in the field or on assignment off-site from the business, why would anyone continue to use paper timecards or worse yet, nothing at all?
Automated timekeeping saves time which equals saving money
Here are some reasons why every business should have an automated timekeeping system:
1. Increase productivity
Employees who are required to clock-in and out report to their assigned location and begin work immediately.
2. Decrease in paperwork
Timekeeping on paper timecards requires someone in the office to set aside time each week to manually calculate the time and record it on a ledger, spreadsheet or other system which may or may not integrate into payroll.
3. Decrease in theft
Theft of “time” is one of the most costly expenses to a business. If a business owner budgets an employee’s payroll for 40 hours each week, but that employee only produces 35 hours of actual work due to showing up late, leaving early, or taking an extra –long lunch hour, the cost to the business is five hours each week. Multiply those five hours by two or three employees and the cost to the business can add up very quickly.
4. Efficiently manage workers
Automated timekeeping is effortless. Time is continuously calculated which allows business owners to generate real-time reports with the click of a mouse.
5. Streamline timekeeping and payroll
Automated timekeeping systems can be easily integrated into most payroll systems for quick and easy processing of employee pay checks.
Our payroll outsourcing and timekeeping services offer ACA reporting to assist with compliance and reporting accurate information for hours worked by full-time and part-time employees. 5 ACA Tips for Businesses will review more of what you need to know.
Take a good look at how your business is keeping employee time. If saving time and money is something your business needs, give us a call. We would be happy to stop by your business and show you how automated timekeeping can help you.