Frequent absenteeism costs your company money by driving up labor expenses, so a system that lets you identify and deal with problems as they happen will save time and money. While some of those instances might be coincidences, there are people who take advantage of lax attendance policies.
Sometimes employees show up to work late, leave work early, or are regularly “sick” on certain days. It manages attendance.Ī good time-tracking app will alert you to any attendance inconsistencies that crop up. Many timeclocks allow you to program your payroll policies into their parameters, automatically handling any required calculations and reducing the time you spend on payroll. The ability to implement your paid time off (PTO) policy in a way your full-time and part-time employees understand makes for a seamless workflow. It helps with payroll tracking.Īnother important function of timeclocks is accurately tracking your payroll.
Willful or accidental malfeasance can cost a business thousands of dollars in wages and lost productivity. Shockingly, 3% said they added more than an hour of unworked time to their timesheets. In a survey of 1,000 employees by QuickBooks, 49% admitted to committing time theft, with 46% admitting to “adding between 15 and 60 minutes” to their timesheets. Timeclocks also reduce the risk of employee fraud and time theft by highlighting inconsistencies in a worker’s clock-in and clock-out habits.
Best employee time clock for small business software#
A good timeclock and attendance software app can also simplify tasks like employee scheduling and payroll for managers. It ensures accurate compensation.įirstly, timeclocks are a fair and equitable way to ensure your employees are being paid what they’re owed. However, most early business models require some form of hourly labor, so as your staff grows and more people contribute to your company, you’ll want to implement some sort of time and attendance software solution.Ī good timeclock is important for small businesses for several major reasons. If you don’t have employees lined up when your business launches, or if your employees don’t work on an hourly basis, then it makes sense to hold off on a time and attendance system. Why is an employee timeclock so important for small businesses? As you search for the right timeclock solution, here are some questions to consider before you commit.Įditor’s note: Looking for the right time and attendance system for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. Whether you want a biometric timeclock physically installed onsite or a cloud-based solution that your employees can use to clock in and out on the road depends on your business’s structure, payroll system, and needs. Couple that with the fact that timeclocks can integrate with payroll software, and you have an important tool that could save your business thousands of dollars.Īs with most modern business tools, many factors matter when you’re determining the best timeclock for a small business, since numerous options are available. While cash flow, supplies and inventory are all resources that come to mind, one of the most important things small business owners need to be aware of is time.Īs you add more people to your staff, their hours worked – and, by extension, their productivity – can be measured with the help of either a physical employee timeclock or a timeclock app. As a small business owner, you likely understand how proper resource management can mean the difference between a thriving business and a struggling one.
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