Regardless of your industry, employee attendance will directly impact your overhead costs. For example, if your employees are not reliable, you may have to spend time and money searching for new candidates. The key here is to remain on top of any potential underlying issues, remaining mindful of the bigger picture.
That is why to ensure your business’s ongoing success; you need to track time and attendance data. When you can effectively track each employee’s attendance rate and hours worked, you will make more informed decisions.
The Importance of Time and Attendance Solutions
As a business owner, the better off your company will be, the more you know.
Tracking both time and attendance is essential for your business. This type of data can help you make predictions about your company’s future revenue, especially labor costs. This will help you budget accordingly, ensuring that you are not paying out more than you should be. Although incorrectly reported hours may not be intentional in your employees, “time theft” affects 75% of businesses.
Automated time tracking is the solution to this issue, helping companies eliminate lost productivity. More effective time tracking and payroll management ensure that you’re not underpaying any employees, as they may later claim the DOL, resulting in potential back pay. As reported by the Economist, 73% of organizations are delighted with their returns once they automate their processes.
Not only will a time and attendance solution ensure that you only pay for hours worked, but it can also help you identify “problem” employees. Poor attendance and lost productivity will directly impact your bottom line.
The success of your business depends on the performance of your employees. Both time and attendance significantly affect your company’s functionality and growth.
How We Can Help
America’s Back Office® will help you properly manage time and attendance records, supporting your company’s overall health.
We effectively track all employee information, including timesheets, PTO, and sick days. We provide software that accurately records employee hours, which will streamline payroll. The result is more effective reporting. This will also help you enforce attendance policies, which is something that’s often hard to do.
We can provide automatic employee clock-in and clock-out options that you can easily access online. This can help you automatically and more accurately track benefits such as sick time, vacation days, and overtime. Our goal is to help you optimize business growth through the power of an automated time and attendance system.