In this digital era, it may surprise you to know that many small businesses still rely on paper forms or excel sheets to log employee hours each week. While this may work in a smaller business, as your company grows, this method quickly become unreliable. If you are thinking of making the switch to a digital time clock, then check out these great benefits.
Using a time clock means that all your data collection and hour calculations are automated, so you no longer need to spend time collecting time sheets from your employees and inputting their hours manually. You also remove the risk of human error when calculating employee hours which prevents spending time rectifying miscalculations in employee pay checks later down the line.
Instead of relying on the accuracy and honesty of your employees, you should invest in a digital time clock system. While most employees do the right thing, there are some that try to cheat the system. With a time clock you can reduce employee fraud by preventing workers from clocking in when they aren’t actually at work, or asking their co-workers to clock in for them. This will ensure that you aren’t wasting money on unwarranted wages.
Keep your payroll accurate
Not only can a time clock save you time and money, it also helps you keep your payroll accurate. You can combine your timeclock with your payroll to help you more accurately calculate paid time off, vacation hour, and other absences. You can also set up time clock to alert you to absenteeism before it becomes an ongoing issue.
Calculating real-time labour costs
Tracking your labour costs on paper is extremely difficult. By installing a time clock, you can identify which employees or positions are taking up the most time, keep an eye on creeping overtime costs and see how your overall costs compare to others in your industry. This will help you keep you on budget and ensure you aren’t overspending.
BioAccSys Australia offer a range of effective and accurate time clock solutions for small businesses across Brisbane and the Gold Coast. Our most popular FingerTec product range uses biometrics and GPS enabled mobile technology to track attendance and boost your business’s efficiency. To learn more about our time clock products, contact us today.