Technological advances have transformed the way businesses conduct operations and complete processes in beneficial ways. One of the technological solutions available is time tracking software. Through this type of software program, employees can easily clock in and out without having to keep a physical timesheet. Managers and business owners can easily review and analyze time data and can take better control over expenses. Through these and other features, you may discover that there are four specific ways that time tracking software can benefit your business.
1. Prevent Timeclock Theft
Regardless of whether you have a couple of employees or hundreds, some of your staff members may try to take advantage of a timecard or numerical clock system. For example, one employee may punch another person in if he or she is running late. This means that you are paying this individual for time when he or she is not actually working. Financial loss related to this type of event can be substantial over the course of a year. When you use a biometric system, you can prevent this type of event from occurring.
2. Minimize Overtime Expenses
Many employees may intentionally try to sneak in overtime pay by working an extra 15 or 30 minutes here and there. Others may be asked to work extra hours when other people fail to show up for a shift. Overtime expenses can add up, and you may be eager to reduce or eliminate overtime compensation when possible. Through the use of this software program, you may be able to monitor the number of hours worked on a daily basis.
3. Monitor Attendance
Some employees may have a tendency to show up late, leave early or call in sick excessively. When this happens, you may need to document the incidents and take action to write the individual up or even to fire the individual. This type of software enables you to monitor attendance as well as to document issues. The effort required to do this manually could be substantial.
4. Save Money and Effort
These are only a few of the ways that a software program can be used. Through each of these and other processes, you can save money and effort. This could even decrease the number of managerial or HR staff members you need to hire. In addition, you may be able to save money in different ways.
Employee attendance can impact your business in substantial ways. It can affect customer service levels, sales and productivity. Your ability to track and monitor attendance or absences are critical if you want to properly manage your team. While you could take action to do this manually, the use of a tracking software program offers true benefits.