By now you may have noticed that I write a lot of blogs about how having a time and attendance software can make your life at work easier. Today, I want to tell you how a Time & Attendance software can help your business grow.
First of all, let me go over the specifics of what a quality a time and attendance software should have:
- Investing in a single-source solution will ensure that all your hours will flow directly into your payroll (if your provider has that capability). This eliminates dual entry between platforms, so you can trust that wages are paid accurately.
- Your software should be hosted in the cloud, making it accessible to anyone, at any time. This also means that the data is always securely stored in a place where it cannot get water damaged, lost, or stolen.
- A quality time and attendance software should allow you to build out a weekly schedule for multiple locations.
- Being able to quickly pull reports to see which employees are available to work and which employees are close to hitting overtime is essential in a time and attendance software.
These are only a few of the benefits of having a quality time and attendance software. If you are not already using a time and attendance software, or if your current provider doesn’t offer these capabilities, then I recommend you start shopping around soon. The best option for your business depends on your needs, and of course, your company size.
So, how can a time and attendance software help your business grow?
One of the main benefits of a timekeeping software is its efficiency. If you are currently using a manual time tracking method, then you are familiar with all the pain and frustration this can cause. Dual data entry lost data, and illegible handwriting are only a few. By incorporating an automated and cloud-based time and attendance software you will be able to focus on other tasks. You will no longer have to add hours or calculate overtime because the software will do it for you. Depending on your software’s capabilities, you can even get alerts when an employee is close reaching overtime. This will help you stay on top of things without having to take the time off your day to check every single employee's’ hours.
Eliminate Time Theft
It is no secret that time theft is a real issue that affects many businesses. It is also no secret that a business that is affected by time theft struggles to grow. There are many ways employees can “steal” company time. Such ways include falsifying hours, handling personal business while being on the clock, buddy punching, and so on. With a time and attendance software, you can capture hours in real time. Also, depending on the time tracking method you use, you can see who punched in and out, at what time and location. For example, the only way to punch in and out when using a biometric time clock is by using the employee’s fingerprint or facial recognition. This means that the employee has to physically be at the location, which effectively eliminates buddy punching.
Save on Payroll Expenses
Using a time and attendance software allows you to spend less time tracking where your employees are and what they are doing, and instead spend more time building your business. Depending on your business, studies show that you can save up to 70% on payroll expenses by using time and attendance software. Since you no longer have to worry about tracking employee time, you can focus on more important tasks such as finding the best talent, finding ways to reduce turnover, and so on.
When you invest in something, you want it to be able to grow and change with your business. A time and attendance software can grow with your company without becoming irrelevant since it will be updated to suit your needs. At the end of the day, you need to track the hours worked by your employees, whether you do it manually or by using technology. The fact is that using technology will be easier for you and your employees. Also, it is important to keep in mind that a time and attendance software has the ability to grow and keep up with your business. If you gain more employees, then you can always add them to your software.
Learn more about how a time and attendance software can help your business grow by requesting a personalized demo below!