Four Ways Conventional Timekeeping Costs Employers Money

Time attendance tracking -- it's at the very heart of managing off-site employees. Unfortunately, it can also be the reason money is walking out the door of your business. Here are four ways conventional time tracking can be costing you money, and also some solutions that may stop the bleeding.

Employee Time Padding: Traditional timecards still used by many companies for time attendance tracking are inexact, at best. Employee time padding is easily possible. Because you're not always able to monitor exactly when your off-site employees begin or end their shifts, you're taking it on faith that the time written on their time cards is truthful.

Solution: A telephone time clock, on the other hand, records the exact time the employee calls in to begin working. Time padding can be a thing of the past using this method.

Payroll errors: Timecards require manual calculation by your staff each payroll cycle. If an addition error is made, employees may be overpaid (or underpaid.)Illegible employee handwriting and damaged or lost timecards represent their own potential hazards to your bottom line.

Solution: Using the phone time clock method for recording employee time, reports are automatically generated. This mitigates the risk of calculation errors in employee pay and also in payroll taxes.

Storage Space: Paper-based time records come with a built-in need for storage. File cabinets cost your business money, both for the equipment and the space required to house them.

Solution: By requiring off-site employees to call in their start and stop times to a telephone time clock system, records are stored digitally, requiring much less space for storage.

Time Lapse in Collecting Data: You may have a need to collect employee time data in between payrolls. Unfortunately, this can be difficult when your workforce is primarily off-site.

Solution: By implementing a phone time clock system, you can create real-time reports whenever necessary.

The time and money being wasted by using traditional timekeeping methods with off-site employees may be a major drain on your business. Investigate the telephone time clock options available and see just how much they could be saving your firm.