When you own a small business, you’re sure to encounter hurdles as it grows. One challenge that many small businesses face as they expand is learning how to effectively manage a growing workforce. Details like timekeeping and payroll might not have been such a challenge when you employed just a handful or people – or maybe just yourself. As the size of your workforce grows, so do the headaches of timekeeping and payroll, which is exactly why you should be considering automated timekeeping system to simplify the whole process.
The Basics of Automated Time Clock Systems
Manual timekeeping systems often fall short when it comes to accuracy and protecting your bottom line. Small businesses are often quick to employ the honor system, or an outdated “punch card” time keeping system that enables the employee to manually enter their in and out times. The problem with this type of system is that it’s not only a drain on your time and energy, but it opens up the opportunity for a dishonest employee to take advantage of your trust.
New, super-efficient timekeeping systems alleviate these issues. New cloud-based systems offer numerous capabilities that save your business time and money. With an automated, cloud-based timekeeping system, you can add layers of security features and actively monitor timekeeping from multiple devices at any time. Think along the lines of facial recognition features, flexibility for remote workers, GPS tracking, and simplified integration with your payroll and accounting systems.
Why Small Businesses Should Make the Move to Cloud Based Time Keeping
When looking at new solutions for your business, there are many factors to take into consideration. For instance, you want to know if investing in a new business solution will pay off in the long run, or if it will turn out to be an ineffective use of financial resources. Cloud based timekeeping is a solution that pays for businesses like yours. Here are 3 of the top reasons why.
Effective Time Management
The old adage that time is money is true, and ineffective time management can cost your business on multiple levels. With a cloud-based timekeeping system, you’re no longer wasting hours manually entering payroll, researching time punch discrepancies, fixing errors, or transferring data to your payroll software. These improvements in time management alone improve your bottom line.
Accuracy of Reporting
There are errors that often occur with traditional timekeeping systems. Employees might forget to punch in or out, estimate times of arrival, write in their time using illegible handwriting, or worse yet – use the “buddy” system and have a coworker punch in or out for them. All of these lead to inaccurate payroll reporting and can cost your business. Automated systems eliminate many of these accuracy concerns and allow you a higher level of control in monitoring timekeeping in real time, rather than after the fact.
Get a Grip on Absence Management
Absence management is an important component of HR for your business, and it becomes more difficult as you add employees to your team. Whether it’s for providing your employees with paid time off, keeping track of sick days used, or simply taking notice of absentee patterns that demonstrate a performance issue with a team member, a streamlined cloud-based program makes this effortless.
Are Automated Time Keeping Solutions Right for You?
In business, you never know which challenges you’ll face until they land at your door. A seemingly simple process like timekeeping can actually be a major HR headache in the waiting. What pain points have you struggled through in payroll and timekeeping that could be alleviated by one of today’s providers of automated timekeeping solutions?