Why Companies Love Time Tracking Software
Time and attendance have been the standard of HRMS (Human Resource Management System) functions, but its purpose has evolved into a system that goes beyond merely a punch clock. Modern time tracking software enables managers to efficiently set schedules, track hours worked, and collect relevant data for accurate payroll each month. However, beyond making lives easier for managers, it is also beneficial for the company’s employees.
Unfortunately, many employees have the common misconception that time tracking is a sign of mistrust from the company, which often leads to unrest within the team. However, it is a far cry from the misbelief mentioned above as tracking employee attendance is paramount to ensuring accurate and reliable information for business decisions.
That is why managers should practice transparency within their staff to shed some light on the importance and benefits of time tracking software.
Benefit #1: It increases convenience for managers and employees
Using an employee time clock can help employees and managers save time and money by reducing the work it takes to calculate employee hours. Moving from paper sheets to an online tracking system also reduces human error when calculating time, especially when sifting through the minutes and breaks in between working hours.
Employees may find this a useful feature as this leaves a positive impact on their payroll. Modern tracking methods with built-in GPS technology also allow remote workers to conveniently step in or out of work, saving managers and employees the time it takes to track each other’s whereabouts and progress with their assigned tasks.
With the help of this new tracking technology, employees no longer have to beat the clock as they can easily manage their clocking-in responsibilities in a single click.
Benefit #2: It provides greater transparency between managers and employees
For many employees, having their payroll details re-evaluated is just another day at the office. Manual tracking of attendance often leaves room for human errors, and these can lead to the time taken off from managers and employees in an attempt to rectify the mistake.
Fortunately, modern time tracking methods offer greater transparency on the process of calculating their salaries. Not only will it reduce errors or frauds within the team, but employees can also track the extra hours they spent overtime at work.
In most states, it is mandatory for employers to compensate for overtime. In that regard, employees can now have an easier time staying on top of their schedule without any worries about it getting lost on paper.
Benefit #3: It provides a better overview of managers’ and employees’ schedule
The workforce has always found ways to improve its operations, and technology has helped fast-track the progress.
This includes time-tracking methods, which now offer a multi-functional system that has GPS technology, digital sheets, remote tracking, and mobile app time clocks for a more convenient way of monitoring the work hours of employees. Not to mention, providing employees with the transparency to view their attendance and have an overview of any last minute shifts can help reduce absences, lateness, or overtime.
Notifications can also be sent to employees who may have forgotten to log in or out of work, avoiding additional reductions or complications with their payroll. For remote employees or staff working outside the company’s location, there are options like GPS tracking systems or geofencing where their whereabouts between business hours can be closely monitored.
A certain perimeter can also be set by the company or manager when assigning their employees to work in the field, which is highly beneficial to managers who need to send periodic reports on the given assignment.
To that end, employing a sophisticated time-tracking system within the company can promote productivity, accountability, and efficiency in both managers and employees.
If you’re looking for a time tracking app with geofencing software built in, Timeero is your best option. Get in touch with us today to see how we can help.