The Necessity of Time & Attendance for Small Business
https://pay-tech.com/payroll/small-business-payroll/It seems obvious that showing up for work and being on time are important requirements of any job. Unfortunately, business owners can’t always count on their employees to do this consistently. Managing time and attendance is an essential business function for small business owners. Luckily, there’s software and systems available today that can help your company do this with ease.
Time and Attendance for Small Businesses
Managing employee time tracking is so important for all businesses, but it’s especially crucial for small business owners who don’t typically have the extra resources to overpay their employees for hours they didn’t work or doll out extra vacation days because you’re not sure how many they’ve taken so far this year. Implementing employee time tracking can help you save your business money, while keeping your employees on task and productive.
What is Time and Attendance?
Time and attendance may seem like a pretty obvious topic, but let’s look at what it is in a business context. Employee time tracking is the total hours worked by an employee from the beginning to the end of their shift. Attendance is the record you keep of all that time tracking over a period of time.
They are needed together to maintain accountability and ensure adequate coverage so your business can function properly each day.
How to Track Employee Time and Attendance
Business owners must decide how to track employee time and attendance for their company. Although in the past many businesses used punch cards that employees had to insert into a machine at the beginning and end of their shift, there are some serious downfalls to this type of record keeping.
Physical records have security risks, especially when you consider that they need to be kept for at least four years. Electronic records reduce the chances of any physical damage or of valuable information being stolen from physical documents. That’s one of many reasons automated time and attendance systems have become so popular for small businesses.
What is Time and Attendance Software?
Okay, all that sounds great but exactly what is time and attendance software? Essentially it is a tool that helps you easily track when your employees are working. However, there are a ton of different options for time and attendance systems for small businesses.
Let’s look at some of the benefits of this type of solution and what options are available on the market.
What Are the Benefits of Automated Time and Attendance Records?
Aside from being more secure, what are the benefits of automated time and attendance records? Many of the options on the market offer ways to also track employee vacation time, analyze reports to ensure you have proper coverage for your business, and give employee access to their data. Depending on the needs of your business, you could move to a simple computerized time clock or invest in a fully managed software solution.
Employee Time Clocks
If you just need to track when employees clock in and out, a computerized time clock might be sufficient for your business. There are several different types of time clocks including ones that support keypad functionality, fob detection, magnetic card swipes, and even biometric fingerprints or retinal scanning. All are effective methods of timekeeping.
Electronic time clock modules usually feature accompanying software that can alert managers and employees of missing punches. This helps detect absenteeism trends. However, simple user errors can also be remedied with manager overrides, or when permissible, manual corrections by employees.
Employee Time Clock Software
If you are looking for a more comprehensive tool, you may want to explore a more software oriented time and attendance solution. The benefits include high levels of security, cloud-based connectivity, and remote support. There are a few different types of software you can use for your business: CRM, Cloud-based, and ESS.
CRM timekeeping software is an all-in-one system that offers businesses several different HR functions. The top systems on the market include timekeeping, benefits management, time-off requests, and more. It is available as a web application or a web-hosted platform. This helps you easily answer the question of how to keep track of employee vacation time and how to plan appropriate coverage.
Cloud-based time and attendance software is a web application that supports several types of export options. These tend to be the most compatible with other well-known productivity and timekeeping platforms.
Employee self service, or ESS software, is the most employee-friendly option that allows timekeeping records on-the-go. At any given time, an employee can check their benefits coverage, electronically submit time-off requests, and when permitted, remotely clock in and out. Because it is a subscription service, ESS modules with dedicated employee logins can be the priciest option for larger workforces.
Get Support with PayTech Payroll Solutions
With so many options on the market, it can be difficult to find the best payroll solutions for your small business. If you need help deciding the right way to manage time and attendance at your company, PayTech can help. We’ll make sure you get the best option for your unique needs and ensure you are set up to be efficient, secure and accurate.