1 min read
Protect Yourself From Time Theft
30% of Employees Admit to This Crime No business owner wants to believe their employees are dishonest. Yet, thousands...
3 min read
The YPD Team Dec 17, 2021 9:32:22 AM
If your small business is quickly growing in size and employee headcount, there's a good chance you require a new solution for time and attendance. While your initial employee base was likely all salary-based, you will now need hourly tracking and a robust time and attendance solution. Here's how tracking software can make all the difference:
When it comes down to it, the sooner you start, the quicker you gain a competitive advantage in your market. On the other hand, the later you start, the more likely you are to fall behind on the latest advancements created to make your business life much easier.
Here are the most significant reasons you need time and attendance tracking software as we enter 2022.
Easy-to-use software allows employees to submit their hours daily or weekly depending on your requirements. This automation improves time management for both your:
In fact, studies have shown that automating tasks like time management can reduce wasted time by nearly 69% by making tedious and repetitive tasks a thing of the past. Forbes adds that according to employees surveyed in a report, automating small tasks like time and attendance saves them up to two work hours a day, equal to 240 hours per year.
For employees, payroll disturbances can be terribly inconvenient for those who rely on their paychecks to pay bills and feed their families. While most workers would love to have enough in savings for those slight bumps in the road in payroll, it's not always the case.
According to studies reported in Forbes, 28% of people making $50,000-$99,999 'usually' or 'always' live paycheck to paycheck, and 70% of them are in debt. LendingClub Corporation adds that another 40% with incomes over $100,000 also live paycheck to paycheck, with at least 12% of those struggling to pay important bills.
As for HR, disruptions in payroll can become more time-consuming to correct than the free time the team has to offer. There are a lot of important moving parts for HR to address to ensure employees are happy and productive and the company is on track for growth — and no time for mistakes. When timesheets automatically sync with payroll, there is less lift and more accuracy.
Although there is a misconception that less supervision is more motivating, research often says otherwise. According to Chron, "One of the most important purposes of supervision is to provide a supportive and comfortable atmosphere in which employees can feel comfortable at work."
With the right time and attendance tracking software, supervisors can easily manage time and attendance dashboards to keep tabs on employee productivity. This can be a great way to acknowledge and reward employees who are on track and discuss potential solutions for those underperforming.
Your tracking software solution can allow you to create and edit schedules, browse and change employee time cards, leave requests that need approval, create customizable time and attendance reports, and more.
Mobile usage has been rapidly growing in the workplace over the last decade or more. While it was once forbidden to bring your phone out at work, it has now become a requirement — if not a necessity.
According to a study conducted by Samsung, 93% of workers use their smartphones at work. The report also found that as much as 33% of their workdays are spent on a cellphone, with some occupations seeing much higher figures. To support mobile-friendly usage even further, the cellphone company adds that nearly half (42%) of participants surveyed preferred their cell phone for work over other devices.
The right time and attendance software will allow employees and employers to manage time and attendance from a mobile app, keeping these essential tasks easily accessible to those who need them — not to mention further improving efficiency and productivity.
An HCM platform takes your HR team to the next level, improving their impact on employees and the company's growth by freeing up precious time to focus on more important matters and contribute to the bottom line. Easy integrations to your HCM are essential to accessing all your accounting needs in one place.
When you're ready to explore all of your HCM and integration options for more growth opportunities, contact our team at Your Payroll Department. We will be more than happy to get your workplace set up with the latest automation platforms like time and attendance tracking software.
After all, time is money, and the only way you're going to get some back is by automating small tasks that are better suited for technology.
1 min read
30% of Employees Admit to This Crime No business owner wants to believe their employees are dishonest. Yet, thousands...
3 min read
Employees are the most important assets of any business. And while your people are your most valuable assets, managing your employees...
1 min read
Year-end planning is focused on reducing taxable profit. One popular way to reward employees and mitigate taxes is by issuing year-end bonuses. ...