Is your business still using a physical time clock or paper and pen to document employee work hours? While using traditional time tracking methods may still be standard practice for some businesses, there are many reasons why using online time clock software is a better option.
Time tracking software can solve many problems that you may not even know exist or haven’t been able to capture due to manual time tracking, such as employee time theft. Below are five reasons you should ditch your outdated time tracking method and switch to an online timecard system instead.
Five Reasons To Ditch Outdated Time Tracking Method
It Can Increase Profits
Using online time clock software allows businesses to predict the cost of a job more accurately. This is an essential factor for companies that bid on contracts and need to have accurate costs for labor, materials, and other expenses.
Keeping track of employee work hours more accurately provides valuable data that can be used on future projects to estimate things like labor costs, time estimates, and workflow. This allows you to save money and enable you to make more money in the long run by bidding more accurately for each job.
It Can Improve Accountability
Making employees more accountable for their work hours will improve overall efficiency and employee morale, leading to increased productivity. With online time clock software, employees can request time off or specify their availability, giving them greater control over their time tracking process.
Employees know that to be paid for their hours, they have to punch in and be productive while on the clock. There is more possibility for time theft and unproductive hours with traditional time cards as they rely on employee honesty. While employee timesheet software gives employees more control over their own time, you can still use restrictive features to ensure employees are abiding by your time tracking policy.
It Makes Scheduling Easier
Simplifying the scheduling process improves productivity and saves on labor costs. Employers can see at a glance whether or not they have adequate staffing for a given situation and make adjustments in real-time. This allows them to call in extra staff to handle difficult situations or adjust staffing levels to meet various business areas’ needs.
Employers can also consider employee preferences when creating schedules through the online timesheet software, which leads to happier employees and improved morale. When employees are happy, this leads to a more fluid and successful work environment, enhancing profitability.
It Reduces Administrative Costs
Online time clock software reduces administrative costs by eliminating the need for manual tracking of the timekeeping process through automation. This leads to less managerial oversight, freeing managers up to handle other duties.
It also simplifies the payroll process, reducing the need for extra employees to calculate employee payroll, ensures accurate and timely payments, and properly accounts for employee absences and overtime. By reducing payroll errors, employees can be paid faster and are guaranteed precise pay for hourly work. This leads to fewer employee disputes with management and improves overall morale.
Additionally, managers can see employee requests for time off and approve them and make adjustments to employee scheduling in real-time. Employees can see their schedules from anywhere and can adjust their schedules to meet their work demands. This means that less attention is required by managers to ensure that employees show up to work.
It Eliminates Paper Usage
Eliminating paper usage has multiple benefits for businesses. Not only does using clock in and out software reduce a business’s carbon footprint by digitizing much of the paperwork associated with timekeeping, but It also allows for more accurate record-keeping of employee data. Traditional timekeeping requires paper records of employee timesheets, schedules, and other information. This can quickly become costly and challenging to manage.
Online time clock software stores all employee information on a computer or in the cloud so that it is easily accessible and there is no need for large amounts of paper records. This saves trees and helps businesses hold onto their records in case of an audit and for other purposes. By removing the need for a paper trail, companies can become greener in a global sense and more profitable in a business sense.