It is very common that employees will make mistakes while clocking into work - that is why integrated time tracking technology into your business is such a game-changer. Here are 3 reasons why.
1 - Time theft prevention.
As great as your employees may be, mistakes are still made when clocking in with ancient methods of pen and paper; and it costs your business in the end. Integrating technology into your business allows you to optimize your workforce and employee time attendance software allows your business to retain an honest working environment.
You’ll be able to ensure that employees are only paid for their time worked; and any time clocking discrepancies will be easy to track. You'll also be able to make sure that staff arrive for their shift work- ready. Camera time attendance is a great tool in ensuring employees are uniform ready when their shift starts - you’ll no longer have to worry about staff changing after they clock-in. Plus it’s fun, who doesn’t like a selfie? Camera time attendance reinvents the method of time attendance - it makes clocking in and out fun and new!
2 -Control unauthorized clock entries.
Integration with scheduling software is key for preventing any unauthorized time approved to payroll.
For example: an employee is scheduled for a 10:00 AM and signs in early at 9:50 AM; an efficient time attendance system should be able to flag this extra ten minutes for manager approval. An extra ten minutes may not sound like much, but if a business has 20 shifts a day, over a course of a year, an extra ten minutes added to a shifts can end up being thousands of dollars.
Integrating with time tracking with scheduling software allows you to keep track of common occurrences like overtime, early and late starts, etc. You’ll have real time information to approve or unapprove clock hours,
3 - Eliminate manual hours transfer to payroll
Manually adding up approved hours and transferring them to payroll is not only time consuming but it can also result in costly errors. Throw in statutory holidays that are required to be calculated every other pay period, and you’ve guaranteed yourself hours of tediously calculating payroll hours.
Essentially, if you're running a business with 50 employees, spending 10 minutes to manually transfer hours for each employee, equates to a full day’s worth of work. Integrating time attendance software with payroll software saves your payroll administrators time and saves you money. Accurate hours also means accurate payroll with no mistaken costs.
4 - Decrease error costs.
Generally, period end dates and pay dates are fixed dates. There are usually only a few days between period end dates and pay dates. As a result, your payroll admin has an extremely limited time to transfer employee clocked hours over. On a scale, a 2% error factor on an annual payroll of $500,000 equates to $10,000 in errors a year.
Limited time leads to increased errors - especially when transferring clocked hours to payroll. The biggest issue with errors is that it creates an untrustful environment with employees. It’s also more than likely to be a one way street. If you over pay employees, you’ll likely won't hear about it much. However, it's likely that errors will be found instantly if employees are underpaid.
Errors aren't hard to come by - especially with time constraints and deadlines. They're guaranteed when considering the sheer volume of hours that must be manually calculated and transferred.With time attendance software auto-pushing your employees clocked hours to payroll, you'll save yourself and your payroll admin time and money!
5 -Real-time access to labor costs
The environment of a growing business is extremely fast paced. Your margins are thin and decisions always need to be made on a whim. If you're manually transferring hours to payroll, you only really know your labor costs two weeks out. However, operating on two-week-old data is not the best scenario for a restaurateur.
Making informed decisions, based on the real time numbers that your business is telling you, along with understanding what they mean, are a key practice in running a successful business. Running a successful business is more than having the right mindset, but also the right tools.