Are you looking for increased revenue? Then its perhaps time you looked into your time and attendance tracking method, do you think it’s as effective as you would like it to be?
According to a recent survey, a shocking 80% of employees in the U.S. admitted to time theft and even as technology continues to modernize, business owners continue to neglect their employee time and attendance tracking systems.
Seeing that 80% of employees actually steal company time, there is a high chance that you are also a victim of this kind of theft, and that you could be paying employees for work that they haven’t completed in actual sense, especially if you are still using paper-based time cards and timesheets to track your time and attendance. More studies show that time theft accumulates to thousands of stolen hours yearly and hundreds of thousands of dollars every year.
This means that by eliminating all avenues of time theft alone, you will actually be increasing your revenue, and implementing a biometric-enabled time clock app will help you to achieve this. Such an app will completely seal all time theft avenues, including buddy punching, which is the most common and also the most damaging time theft avenue where employees punch in for their tardy or absent buddies.
The American Payroll Association believes that more than 75% of businesses in America are victims of buddy punching. To make a long story short, time theft is extremely costly, but it can be curbed with a quality time and attendance system.
But a time clock app also comes with other benefits too, such as controlled labor costs and an accurate payroll, which is made possible by the more accurate time records that are guaranteed by migrating to an automated time and attendance system. Since the system calculates employee work hours automatically, it eliminates clerical errors and data entry errors and this is the same data that is used for payroll preparation. This is the reason behind accurate payrolls.
Of course, these are not the only benefits of time clock app, there are many more which we will continue to discuss in this article. Please read on. http://zipclock.com/blog/time-clock-app-for-employees/