Time tracking is one of the keys to successfully running a business. It involves a lot of tedious logistical work, but it is crucial for managing hours, paying employees, controlling staffing levels, and staying on budget. It certainly isn’t the most glamorous part of business, but time tracking plays a role in nearly every aspect of running a company and can help ensure success.
Online Time Clock Software Allows You to Accurately Record Work Hours
Keeping track of your employees’ work hours with the help of online time clock software has many benefits for both your business and your employees.
For employees, it allows them to rest assured knowing that all the hours they work are appropriately counted. This includes getting their scheduled breaks and lunches, accurately tracking overtime hours, and sick or vacation days. Accurately tracking work hours also means more accurate paychecks for employees. Online time clock software takes out much of the guesswork and reduces the chances of manual errors occurring.
Additionally, it holds employees accountable for showing up to work on time and appropriately performing their tasks. Increased accountability can reduce time theft, absenteeism, and discontent between fellow workers.
For businesses using an online timecard system, they can reduce payroll costs, improve productivity and manage staffing issues better. This allows them to more fluidly address any workplace changes, including outages, upticks in business, and other problems that may arise.
Online Time Tracking Keeps You Labor Law Compliant
Managing employee work hours through an online time clock is one of the best ways to remain labor law compliant. It can help ensure that employees only work scheduled, take mandated breaks, and are adequately paid for each minute spent on the clock. Any of these issues could result in a violation if not appropriately handled. Time tracking gives employers the ability to address any possible problems before they result in fines or suspensions for the business.
It also holds employers accountable as there are required to record every hour an employee works and whether they have overtime, have taken scheduled breaks, or have been allowed an adequate amount of time off.
Online Time Clocks Allow You to Better Budget by Referencing Historical Data
One of the benefits of quickly accessing employee work records through online timesheet software is that it allows you to use that information to plan for the future. Knowing how much your staffing costs were during a given period gives you data to plan for how much expenses will run for similar situations in the future.
This is a significant benefit for contractors and other per job businesses that need to account for labor costs and the amount of time it takes to regularly complete a job. Having an accurate measure of how many employees were required to complete a job in a given amount of time allows for more precise budgeting and a better bidding process.
Better Manage Workforce Needs With An Online Time Clock
The ability to be flexible in all situations is essential for any business. Employee timesheet software allows employers to review employee records and accurately predict when and where more staffing is needed based on past performance. This applies not only to periods of heightened business but also in saving on payroll during down periods. Both of which boost a companies’ profits and reduce overhead.
With online employee time tracking software, employee records are stored in a centralized, easy to access location. You can run reports on all or select employees to see how they performed during peaks and lows to determine if they should be scheduled for future shifts.
While online time clock software might not be the most glamorous part of running your business, it is undoubtedly an essential tool. It can provide many benefits that you’ll reap both in the long and short term. Hopefully, if you’re on the fence about using this software, the advantages mentioned above have convinced you to adopt this beneficial tool.