Looking Into Time and Attendance Systems

How they can help your company

The unemployment rate reached 10.2% this October, which was the highest it has been in 26 years.  The U.S. Bureau of Labor Statistics also reported that as of June 2009, the average compensation for workers was $29.31per hours worked. With these kinds of statistics, it’s no wonder more and more small businesses are having trouble.  It is important to keep track of all costs your company has, and try and save money wherever you can.

Saving any extra money you can is important for many companies these days, and one way to do this is to have a time and attendance system.  These systems accurately record the time of each employee.  By cutting down on human errors can greatly affect your company’s bottom line.  Experts have reported that 8 minutes per week are wasted on chasing down employees for their time sheets and then manually processing these time sheets with your payroll services.

Some time and attendance options are timecard software packages, biometric meters, web-based computer login stations, touch screens and interactive voice response (IVR) systems.  Time and attendance systems can assist your company greatly because you are computerizing your employee’s time.  Because of all these different options it is important to choose a system that is the best fit for your business.  Another benefit of time and attendance systems are they may motivate your employee’s to be on time.

A great tip to keep in mind on this subject is to do your research on time and attendance systems before making any purchases.  Why would you do background checks for employees and not a company you are going to spend money on? When you have decided on what you would like, it will be easier to choose the best system for your company.  Once you have made the decision, remember to agree in advance on a plan for how the installation process will be installed (if you even have equipment that will need to be installed).

If you and your staff need to be educated on the system, make sure you take into consideration the time it will take to do this.  Make sure the company supplies you with all the information you will need to run the system correctly and at its most efficient. Whatever time and attendance system you ultimately decide on, just remember it can help your company’s bottom line.  Effectively recording your employee’s time could be beneficial to you and its worth taking the time to see if this is an option for your company.

Shannon Suetos is a writer and  based in San Diego, California. She writes extensively for Resource Nation, an online resource that provides expert advice on purchasing and outsourcing decisions for small business owners and entrepreneurs.