Think you don't need automated timekeeping? Think again. But what exactly is it and how can it help your business?
First up - let's define automated timekeeping. According to the Society for Human Resource Management, automated timekeeping is:
"...software and data collection devices that help employers track hours worked, reduce calculation errors and improve payroll processing time. Automated timekeeping systems provide employers with tools that ease the burdensome task of manually recording time and applying other wage and hour rules, such as those regarding overtime, breaks and meals, on a per-employee basis."When done right, automated timekeeping is a powerful savings tool for employers. Not only does it provide great convenience for HR staff members, supervisors and business owners, but it also dramatically reduces labor costs. Ready to shop? Be sure to choose a system that's simple enough to set up, use and manage during day-to-day operations.
Automated timekeeping can reduce the administrative work involved in collecting and calculating employee hours in these eight ways:
- Calculate Your Cost Savings: Track actual minutes worked, while eliminating wasted labor minutes.
- Cut Administrative Costs: Automate time tracking, while eliminating calculation and administrative hours.
- Increase Productivity: Pay employees for exact periods worked – down to the minute.
- Eliminate “Buddy Punching”: Prevent tardiness and employee time theft.
- Make Edits Easily: Be sure your systems allows you to log in from any workstation to easily manage data.
- Reduce Labor Costs: Dramatically reduce the resources and labor costs associated with manual timekeeping.
- Eliminate Late Arrival And Early Departure: Use data to manage your workforce.
- Real Time Financial Planning. Estimate gross wages as they're incurred and minimize surprises.
Want more proof? Find out how real companies have saved time and money using automated timekeeping.
Editor's Note: This blog was originally published in January 2016 and has been updated and revamped for accuracy and timeliness.