Running a successful business is all about the risks and rewards associated with every decision. From offering a new line of products to instituting new company wide initiatives, every choice comes with its own benefits and risks. With that in mind, lets take a quick moment to review the return on investment, or ROI of an automated time tracking system. Along with looking at this topic from the prospective of the company, we will also examine this from the perspective of individual employees who will be using this potentially new time tracking system.
Improving Your Workforce Management
Employee timesheet software is nothing new. Most company’s employ some form of time tracking software to make it simpler for pay to be distributed easier based on effort put in. With an automated time tracking system put in place, individuals will spend less time every day recording when they came in and left. In addition, they will have a resource available for putting in new hours if there is a difference. Implying that you have trust in your employees, such a system requires that individual workers take it upon themselves to arrive and leave when appropriate.
Reliability, Accuracy, And Company Culture
As hinted at above, automated time tracking systems require that there is the right company culture in place that stresses the value of the time people put into their work. Employees that feel either unappreciated or under-appreciated are less likely to work as hard as they can, and may be more likely to abuse such a system. By ensuring that your employees need’s are well taken care of, the automated time tracking system can be an excellent way to provide reliable and accurate information for when people are in and out. In addition, by making the process simple and straightforward to change, employees can more easily change their hours to better reflect business trips or time off. As always, having HR review the information guarantees another level of security and checks that makes sure everyone is playing fairly.
Improved Regulatory Compliance
Workplace regulations apply certain restrictions to an employee’s day. By automating the process, all regulatory processes can be automatically met. Now, for the regulatory compliance not to be met, individuals will have to put in the information themselves, often providing an additional level of working with HR that can stop problems from surfacing before they get out of hand.
