In this unstable economy, most business organizations are ready to embrace whatever legal cost-cutting advice they can get. Interestingly, a good number of these organizations always overlook one simple tool that has saved other businesses a lot of money. We are talking about time clock software, also known as time tracking software, or employee attendance software.
Time and attendance tracking is a basic operation in many business organizations and help companies whose time is often abused by employees, or poorly managed by the supervisors.
When done the right way, and with the right employee attendance software, time and attendance tracking can significantly help businesses to cut their costs and boost their profits in a number of ways. Some of these ways are obvious, but most business owners and managers sill manage to overlook them.
- Paying employees what they really deserve
This one is one the most obvious ways time tracking software can help boost profits. Most businesses that still pay hourly wages usually pay their employees without bothering to confirm whether they really deserve a full days wage or not. Simply assuming or hoping that an employee is working their full day is a recipe for disaster. Implementing time clock software is a sure way of curbing this because it keeps track of each and every minute an employee stays clocked in making it possible for employers to pay employees exactly what they worked for and not a single cent more.
The fact that this kind of attendance and time tracking is web-based means that employees will be able to use their internet-enabled devices to clock in and out of work making for a streamlined implementation.
- Automated time and attendance tracking
While it is true that most organizations do their best to track employee time and attendance, the entire process can be a bit difficult, especially because most department managers are usually so overworked that keeping track of employee time and attendance is understandably the last thing on their minds.
With time clock software, department managers and supervisors will no longer have to worry about time and attendance, once an employer clocks in through the time clock, the tracking automatically begins. The data collected by employee attendance software can thereafter be transferred to payroll administrators for error free paychecks.
Tracking salaried employees
Many organizations also pay their salaried employees without bothering to track their time and attendance. Assuming that salaried employees are working reasonable hours each week is also another big mistake that can be avoided with time tracking software.
When it is clear to employees that their employers are using fool-proof time and attendance tracking methods such as time clock software, they tend to give their best to the business, which in turn boosts productivity and profits.