December 17, 2018
If you’re a small business owner, you’ll already know and hopefully appreciate that your employees are one of your most valuable assets and at the same time, they are your biggest expense, too. For that reason, it’s vital that employee working hours are monitored so that you can ensure you’re getting the most out of them for the benefit of your business. You must also maintain accurate and up to date records of any sick leave and holidays they may take, to be sure that you’re paying them correctly.
Just how important is an employee attendance monitoring system for HR departments?
Super important! Without a functioning system in place to monitor and track time and attendance, companies could end up losing thousands of dollars and have a workforce who are not performing efficiently. An employee attendance monitoring system is the simplest way for HR management departments to ensure that staff are not only working when they’re supposed to be, but that they receive the correct pay for the correct amount of time worked.
On a wider scale, being able to accurately monitor employee working hours gives a much better idea of labor costs, something that all HR teams will be required to submit to company managers and owners.
How monitoring employee time and attendance is good for employees, too:
There can be no feeling quite like the sinking one that hits you when you look at your pay check and realise that you haven’t been paid accurately. With many employees relying on their income to pay bills on time and such like, the effects of not receiving accurate pay can be more than just irritating, it can be devastating. Late payments of bills can see employees having to pay penalties, and not having enough money in the bank to pay for daily expenses can be a real worry, too. Then there’s the hassle of having to try and correct the pay check, and prove that you worked more hours than you’ve received pay for. Having a system that accurately reflects employees working hours and attendance is the best (and only) way to ensure employee satisfaction, and as a result, their productivity levels may well increase, too.
Accurate time and attendance limits errors and saves a company money:
Manually recording the attendance of every employee leaves a lot of room for human error, and is a much slower method of tracking it, too. Most electronic systems for monitoring employee time and attendance have extremely low error rates, less than 1% in most cases, and so overpaying staff need never be an issue. While this may seem a trifling issue, particularly for larger organizations, overpaying staff is no joke and can have a serious long-term impact upon a business.
Security is enhanced:
Protecting the sensitive data of employees is as important to business owners as it is to their employees, and with an electronic, online time and attendance system, security breaches are significantly minimized.
To start accurately recording the time and attendance of your workforce, consider outsourcing payroll to a reputable company who will manage the system and make tracking employee time effortless.
Every decision that you make as an employer can be an important one, especially when you have a budget to stick to, employees to provide for and laws to adhere to, and planning for the long term often gets put aside in favor of staying afloat and staying within budget. However, there are some long-term planning decisions that may be critical to the success of both...
The Affordable Care Act, or ACA, continues to be scaled back as we progress into 2019, raising many questions about changes to the law. Read on to find out what you need to know as an employer, to comply with the ACA in 2019:
Are you legally required to offer your employees health benefits?
Small businesses are said to employ almost half of all workers in the U.S. and if you run a business with employees, then your payroll is likely to be a little different this year; here are the top 10 changes to payroll for 2019:
1. Rule changes for minimum wage