If you have employees, you have to track their time and attendance. Whether you’re counting the minutes your waiters worked at a restaurant or tracking the number of sick days your executives took from the office, this documentation is key to wage and hour compliance. Of course, you could measure it manually, using written timesheets or clunky spreadsheets, but in the digital age, you’ve got a much better option. At Datamatics, we’re delighted to help businesses, organizations, and institutions streamline their operations and make the most of their workforces with advanced time and attendance software. Our programs can help you increase your production, boost your profits, optimize your office workflow, and more. Read on to learn the top five reasons to use time and attendance software.
1. It can automate the often-frustrating process of writing (and changing) schedules.
Working out employee calendars can be a very complex task. Managing your staff’s schedules can feel like quite the juggling act, especially if you’re doing so with a pen and paper or a basic word processing program. Worse yet, once you’ve finally crafted a suitable calendar, it’s nearly inevitable that one or more of your employees will need to make a change, throwing the whole calendar into confusion. Our time and attendance software is equipped with dynamic scheduling capabilities, which can account for your company’s particular patterns and accommodate last-minute schedule switches. Check out our blog on how to avoid headaches when creating employee schedules to find out more.
2. Software can safeguard you against employee time theft.
One of your biggest overhead costs is most likely labor. The saying “time is money” is especially true when it comes to the workplace. Through “buddy punching” and other dubious practices, your employees could be costing your company dearly. In his Detroit Business Law article, “Employee Time Theft – You Can’t Afford to Ignore It,” CPA Gary Field points out that lateness, distraction, and clocking out early are all serious issues. He explains the simple math of the situation: “An employee who robs you of 5 minutes per day 5 days per week is stealing the equivalent of approximately 2.8 days per year assuming an 8 hour work day,” which would amount to “$396 per year” at a rate of “15 an hour.” If an employee stole an hour a day, this could add up to “$4,680” by the same token, “considering a factor for payroll taxes and employee fringe benefits.” Our software can be integrated with biometrics, card readers, and time entry devices to meticulously manage your employees’ schedules and reduce your risk for employee time theft.
3. It can save you thousands of dollars.
In addition to preventing expensive fraud through time theft, time and attendance software can save your company money by:
- Creating more strategic schedules to limit the amount of overtime you have to pay.
- Automating accruals for paid time off, benefits, and more so your HR and accounting teams have to spend less of their time (and therefore your money) doing so.
- Tracking and modifying employee rates as needed during pay periods.
- Improving communication with employees about their time and attendance to reduce misunderstandings and increase transparency.
- Making budgeting and job cost calculations simpler and more effective since time and attendance are more predictable.
- Matching specific staff members’ areas of expertise with the departments and shifts that can most benefit from them to reduce wasted time and improve efficiency.
4. Utilizing time and attendance software can help you better comply with labor laws and company policies.
As if timesheets weren’t complicated enough, you also have to consider corporate concerns and legal issues. By streamlining the scheduling, clocking in, and accruals processes, our software can help you comply with the Fair Labor Standards Act (FLSA) and other work-related laws. Violations of these regulations could cost you money, time, effort, employees, or even your reputation, so you should take them seriously. Our flexible, customizable programs can also help you devise and implement improved company policies to increase your profits and suit your specific needs.
5. It can help you better manage your operations through reports.
As our company name suggests, we aim to provide our clients with valuable data they can use to run their businesses well. A key aspect of our time and attendance software is its ability to author customized reports. You can leverage the information gathered by our programs to track and improve projections, performance, production, and punctuality, among other key factors.