Whether you own a company or are in charge of managing one, you know how important it is that you are able to handle the financial aspects of the business well. Overseeing payroll is one facet of operations that is vital to ensuring your funds are being properly supervised.
However, it can be a challenge to track employee time if you are not using the right software. For example, Time Clock Wizard offers a free program for businesses like yours to manage your human resources more effectively. From setting up an employee schedule through paying them for the work done, the right management software will simplify matters dramatically.
Modern businesses with employees in remote locations face challenges regarding time tracking. Unlike employees who clock in on arrival to the work site, your telecommuters cannot be physically seen when they begin and end the work day. You must rely on their honesty and integrity for accurate reports regarding hours logged in each week.
Although it is important that you can trust those under you, there are multiple reports showing that people can shortchange their employers by several hours each month, oftentimes unaware. The same is true for those who are in-office as well as employees who work with you via the web.
One of the most common ways that this occurs is that numbers get rounded by employees in their favor with manual sign-in methods. Someone arrives five minutes late and leaves five minutes early each day of a five-day work week is getting paid for almost an hour of time on the clock when they were not in the building.
Consider if all of your employees do this at lunch as well, and you are looking at some serious numbers. At twenty minutes per day and a 50-week work year, it totals to a staggering 83+ hours per person! Yes, more than two weeks of pay going out per year that is unearned for every employee who does this.
You cannot afford for this to happen! Even if the numbers are cut in half, it is still a serious waste of company funds. By utilizing automated digital tracking, you can ensure that your employees are only paid for the time they are actually working each week.
Utilizing employee management software will make it easier for you to ensure that your employees show up on time and stay focused on the tasks at hand. However, this is not the only way that you will save funds through the right program. You will no longer have to manually calculate payroll or pay someone else to do it for you.
Those hours can be better spent growing your business. The reality is that time management solutions are the best way for modern companies to conduct scheduling and payroll matters.
You need every edge over your competitors as possible. Quit wasting time and money with outdated payroll methods and start taking advantage of an innovative software tool designed to handle this portion of your company.