Businesses must keep track of their employees’ working hours to ensure they are paid correctly. But, spreadsheets or other paper-based documents aren’t enough to keep track of every employees’ working hours from different locations. Even in today’s ultra-modern world of technology, hundreds of companies around the globe are still relying on cumbersome paper-based records to track employees’ overtime, shortage of working hours, and other time management circumstances. As a result, they’re losing time and resources, which impacts productivity. Fortunately, timesheet management software enables businesses to track employees’ working hours, shift timings, and so much more hassle-free.
Below, we’ve mentioned a few benefits of electronic timesheet solutions to help you understand why your business needs to invest in one now.
Easy Access to Employee’s Work Schedules
Advanced time management software empowers employees by providing access to check their work schedules. There may be times when the employees approach HR managers to ask about their pending vacation days, sick leaves, etc. With the software in-hand, employees can track and monitor the information they need, such as work schedules, overtime, leaves, holidays, and more.
Effective Payroll Management
Enterprises must calculate their employees’ working hours accurately to ensure every employee receives accurate pay for the work they completed. Manually entering payroll data is challenging for any payroll department is prone to errors and can result in losing a significant amount of company resources and ultimately money. The time management platform allows you to track the hours worked by the employees accurately, preventing time clock fraud and payroll errors. The software cuts down on the time tracking data entries and keeps your payroll processing running smoothly.
Enforce Attendance Policies and Prevent Unplanned Absences
As the employees have access to their time-off balances, they can plan their vacations according to their work schedules and available leave time. This reduces the amount of unplanned absences managers usually deal with, which can negatively affect productivity. When you are electronically logging the scheduled and worked hours of every employee, it becomes easier for you to enforce company attendance policies.
Automated Time-off and Accruals
HR departments need to calculate their employees’ accrued time-off balances in order to manage the workforce properly and ensure the required resources are available whenever necessary. Manually tracking every employees check-in and check-out times against their shift schedules and company policies can be complicated and time-consuming. The software records employees’ shifts and other data all within a centralized platform, allowing payroll managers to access the information whenever required.
Enhance Employees’ Experience
The software provides employers and their employees with the necessary information related to time-off balances, regardless of the time and/or geographical location. The right software will streamline typical manual processes for you, while freeing up your staff from the time-consuming tasks, thereby making your organization more progressive for future employees.
Enhance Timesheet Data Accuracy
It can be difficult for any admin to go through every single paper-based timesheet for each employee. The time tracking software allows employees to clock-in and clock-out directly from the software and logs it directly into the system, thereby eliminating the potential of any entry errors. A few software solutions can also enable managers to conduct audits, allowing them to check the accuracy of the timesheets in the system.
The Bottom Line
Many employees tend to keep track of their own working hours, working shifts, and any overtime hours worked. As well as helping employers keep a tab on their employees, an advanced software solution provides a certain level of accountability to your employees. Even though there are numerous solutions available in the market to choose from, only a few provide you with the features that are in-line with your business’s needs. It’s worth spending a little extra on a solution to have these advanced features and functionalities in order to enhance your enterprises profitability.