Keeping track of your employees’ time and labor can be difficult. Learn more about the best solutions for employee time management here.
It’s no secret that employees are the most expensive part of running a business, often costing up to 70% of all business expenses. While most businesses need employees to function, no business wants to pay employees for work they didn’t do.
Luckily, with some of the newest technology, business owners can only pay for the work they receive. Let’s talk about some great time management solutions for your employees!
Attendance And Time Management Tools
Time and attendance tracking software is becoming increasingly popular in the business world for a lot of reasons, but mostly because of time theft. Time theft is when employees steal company time they are being paid for by either not working or by have somebody else clock in or out for them with standard punch cards or sign-out sheets (or whatever way your company uses).
This wastes company money and most business owners don’t even realize how much is wastes until they figure out an alternative that their employees can’t cheat their system. Believe it or not, time theft accounts for over $400 billion in annual losses across US businesses.
If your business is all remote, it can be difficult to track employee hours, so paying them at a different structure like salary or per diem is often the best solution. However, if your business is at a facility, it’s now easier than ever to track the correct amount of time they put in. Here are some of the new technologies that businesses are using and some of their biggest benefits.
Fingerprint Time Clock
Fingerprint time clocks are exactly what they sound like, and they’re very easy to use. Employees will punch in their employee numbers and scan their fingerprints to verify that it’s them. This completely avoids the possibility of another person activating their punch for them.
Benefits
The benefits are obvious. You’ll have peace of mind knowing that the right person is clocking in or out every time. The only downside is having to clean the surface regularly, especially due to the pandemic, as many people will be touching the surface.
Facial Recognition Time Clock
Facial recognition time clocks have the same upgrade as newer iPhones. Rather than scanning your thumb, they scan your face. It’s easy to set up, too. New employees will just stand in front of the device and it will remember them.
Benefits
These have the same benefits as other biometric scanners, but with the added bonus of not needing to clean the surface as regularly.
Magnetic Stripe/Proximity card Time Clocks
These work like your credit card and you just swipe or place near the clock to punch. These have been around for a long time and are still used frequently in businesses around the world.
Benefits
These are a cheaper option and people will have their own unique card. However, employees can swap their cards if they need somebody to cheat for them, and they can also lose them, meaning you may have to replace them frequently. You can always ask employees to keep them on site, but that will increase the risk of people clocking in or out with each other’s cards.
Mobile App Or Web Clocks
There are online options to use, just as there are mobile app time clocks, which work by employees downloading an app upon hire (or using work phones) and clocking in through an app. Everything is on phones these days, so why not time punches?
Benefits
The benefit of these is that with location services on, you can see where employees clocked in or out, making it more difficult to cheat. The only problem is with the ability to swap login information among employees who are at the facility. However, if you can see which device was logged in (like you would on work phones), then you won’t have to worry. You could also ask employees to take a selfie at the time of clocking out.
Another benefit is the ability to have everything in one convenient location. Employees will be able to request time off, report issues, and punch in and out all in one place, giving you the opportunity to view all of your employee records in one convenient location.
These options will also be great for remote workers or workers who aren’t at an in-person facility. More and more people are working at home or off-site due to the pandemic, so why not keep up with the times and make sure you’re not overpaying?
Find Your Solution Today!
Now that you know some great time management solutions for your business, there’s no time like the present to get started! Protect yourself from time theft, get the solution that’s right for you, and reach out to us with any questions!
