Every business owner has a different perspective on what employee management looks like. For some, it’s onboarding and development. For others, it’s the reporting side of hours worked and the amount of output in productivity and sales. For every definition and application though, time and attendance play a huge role in each one.
Earlier, we established that every company has two business fronts: the one that is customer-facing and the one that your employees see. Your workforce is ultimately the heartbeat of your business because, without them, there can’t be productivity or sales. That’s why it’s essential that you are able to report on your employees’ attendance records.
While it may seem like a minute detail, employee attendance has a clear correlation and direct impact on your overhead costs. For example, companies with high absenteeism likely spend more on employee onboarding and talent sourcing in search of more dependable workers. Let’s dive into this concept a little further.
Time and attendance are important for every business because it’s a tangible number that supports the decisions business leaders make. These numbers are often used to help forecast sales predictions, workforce demand, amount of hours available for your workers, and more.
Furthermore, if there is a large trend of absenteeism, then you could have high turnover and staffing issues. If you micromanage every aspect of your workforce, you may be facing a poor company culture and employee morale concerns.
It is possible to find a happy medium to avoid the two extremes. That’s where a time and attendance system that is compatible with your payroll software comes into play. It’s important to include your HR leaders when looking at time clock systems to ensure everyone is in agreement.
At its core, a time and attendance system is essentially a time clock module. It allows you to assign a credential to each employee to empower them with the responsibility of their hours worked. This credential varies per time clock. Take a look:
Not all the above options track an employees’ entry and departure unless it is required, say for hourly employees. However, there are managerial functions that can help with tracking time and attendance.
For example, you will have access to check for missed punches or data entry and approve daily or weekly punches. Other functions give you the ability to override those who are locked out, checking the number of times lockouts occur and more.
HR leaders are most interested in and out for payroll purposes. For service-based companies, they play a vital tracking role. Along with project managers, they can check the amount of time is spent on projects. This helps verify that the company is charging the right amount for services, based on project completion time.
The biggest reason to use software that helps with attendance reporting is accountability. For almost every business aspect, accountability offers many forms of validation. It helps verify if your workforce size is adequate. It checks productivity output to help better forecast for demand or future goals. It helps provide perspective on employee morale and the need for development. It addresses high turnover and absenteeism. No matter how you want to use the reports to help your company grow, the accountability of weighing the expectation versus reality gives you hard numbers that are infallible.
Business owners and HR leaders can lean on payroll experts to help them find and put time and attendance solutions into place. For more than 30 years, PayTech has helped many franchisees and small businesses by offering time tracking options that are compatible with leading payroll software.
Don’t waste your time researching and trying something that isn’t the right fit for your company. Let our experts do the analysis for you, which will ultimately save you time and money.
It’s never too late to use time and attendance records to help provide the data you need to analyze your overhead costs. It is eye-opening results are a necessary step to take to prepare your business for each new fiscal year. Let PayTech give you support with time and attendance services. Contact us today to learn more!