Some business owners and managers adopt the philosophy of not trying to fix things that are not broken. If you fall into this category, you may not feel as though your current employee time tracking process needs to be revamped. You may actually be using the same tracking process that has been used for years, and it has worked well for your company throughout this period of time. However, there may be a better solution available than your current outdated system. When you take a closer look at a better way to manage your timesheet tasks, you will see why investing in new software is a smart idea.
1. Simplify Managerial Duties
When your team uses paper timesheets, it can be difficult for managers of large teams to accurately determine when individuals are coming in late or leaving early. It can also be difficult to take disciplinary action when there is a legitimate issue with one of your employees. After all, your team members fill out the numbers on their timesheet manually. Oversight is challenging, but this can be addressed properly through the use of a new software program.
2. Save Time with Payroll Tasks
When your team uses paper timesheets, your payroll team must manually check the total hours worked each week before processing payroll checks or deposits. This can take a considerable amount of manpower, and this is time that may be better spent on other important tasks. Eliminating unnecessary tasks can make your team work more efficiently, saving your company money in the process.
3. Track Hours Accurately
You may try to carefully monitor overtime compensation, but it can be difficult or time-consuming to do so when paper timesheets are being used. With a tracking software program, you may be able to see real-time hours worked. You may also receive alerts when individuals are approaching over-time status so that you can take appropriate action.
4. Reduce Employee Theft Costs
Employee theft may not be something that you want to think about, but it can be a legitimate and expensive problem for some businesses. One way that this type of theft occurs is when one employee fills out a timesheet falsely to cover for another employee who arrives late or leaves early. With a software program, the individual may need to physically be standing in front of the computer or terminal in order to clock in or clock out.
It is easy to think that your current manual tracking system works well, but you can see that there are actually many downsides associated with it. By learning more about some of the features available in modern software programs, you may decide that upgrading is a beneficial move to make.