Time has become the equivalent of money for most professionals in the business world. Therefore, if a company can save time you can save money. This is to increase the benefits of the strategy used by most companies in operation today. To save time, employers have to implement ways to track the time employees. Companies focus on tracking employee time and attendance electronically. Software designed to track time can save a company millions of dollars. The software is able to accomplish this by reducing “buddy punching”, a fraudulent act one person punching the time clock for a person who is not currently working. Time Tracking Software also ends handling payroll and scheduling.
A time clock no doubt brings to mind the old-fashioned punch-in-punch-out clock systems of decades past, but truth is, the majority of employers utilize some sort of clock system in order to keep track of the hours their employees are working – or in some cases, are claiming to be working. Time clocks protect both the employer and employee. For the employer, a logging clock presents indisputable evidence of when an employee began their shift, and when they ended their shift. For an employee, such a clock presents indisputable evidence of the hours worked, so if the resulting paycheck doesn’t match up, it’s easy to bring to the attention of the employer the discrepancy in pay, and hopefully work out the difference in an amicable manner.
When deciding what type of employee timing clock works best for your employees, consider electronic options that can often generate spreadsheets or otherwise take the received data (punch-ins and punch-outs) and transfer it to a database. Also known as a self-totaling timing clock, this type of system can often compute payroll estimates ahead of time with the use of software, and of course keep logs of all employee activity, including clock-outs for breaks and other time off.
If security is of significant concern, a biometric clock system may be the ideal choice. While these types of time clocks are certainly on the pricey side, you have the peace of mind that since a fingerprint or even whole-hand-scan is utilized with each punch-in and punch-out, you’ll always know who is working, when they are working, and for how long they are working.
Other considerations when selecting the right type of punch clock system for your business include:
* Should the system generate a receipt for each employee?
* Will missed punch-ins or punch-outs be logged?
* Will you be notified of potential overtime issues?
* Can the system be integrated with payroll and other accounting systems?
No two employee hour logging clocks are the same, so be sure to check out the features of each one thoroughly, and find out if test-driving a particular system is a possibility. After all, the best way to decide if a system is right for your business is by trying it out firsthand.