How to Maximize Your Employee ROI
In the modern business world, employees are the greatest asset any company has at its disposal. Managers, who interview potential candidates for employment, look at each person as an investment. They will spend time and money training each employee, hoping to realize a positive return on their initial and ongoing investment.
Americans spend millions of dollars every year on stock brokers, hedge fund managers, and financial advisors to oversee and maximize the return on their personal assets. It makes sense that a business should put the same amount of effort into managing their employees’ time; it is the largest investment the company will make after all. Fortunately, the solutions available to manage employee tracking are much more affordable than a hedge fund manager, but are just as vital in helping a business to get the most out of their employees.
Improve Employee Behavior
Most employees are honest, hard workers. However, there is always that one employee that drives management crazy. Helping all your employees modify and improve their behavior is fundamental to getting the most out of the time they spend at work. Employee time keeping software will aid this process by requiring employees to adhere to a schedule, tracking breaks and auto deducting lunches. By inputting an employee schedule into the system, an employee will have to follow that schedule, or they will not be paid for the extra minutes they spend clocked in an attempt to accumulate overtime hours. This lowers your labor cost by avoiding unnecessary overtime and prevents wasteful “clock watching” while employees try to squeeze a few more minutes out of the time clock.
Untracked breaks quickly turn into an hour long trip to the water cooler. Using a program which tracks these breaks and doesn’t allow employees to accumulate extra time will quickly end those long walks around the office. Auto lunch deduction features allow management to require lunches of a designated length. Certain employees will take short lunches, resulting in overtime and possibly not being at their best or even legally compliant.
Minimize Time Spent on Payroll
The more time you spend managing an investment the lower the return on your time will be. Time tracking software excels at streamlining payroll management. Too many companies still have their human resource department hand calculate employee timecards. Occupying a staff member’s time with manual calculations is the definition of waste and inefficiency. In seconds, the program generates an accurate hours report with a complete breakdown of all your employees’ time, which can then be exported into your payroll application. Eliminating unnecessary payroll steps allows more time to be spent on productive tasks which will grow the business.
Prevent Time Inaccuracies and Theft
Performing manual time calculations will inevitably lead to errors. Allowing employees to write down their times on paper time cards is an open invitation for manipulation. The majority of employees are honest, but even honest mistakes can increase your payroll costs by thousands of dollars. Having an automated system will ensure the employee time records are accurate every time, and by requiring employee to clock in and out as they come and go, will make your employees accountable for their time spent at work. Employees will no longer be able to come and go, roughly estimating their reported times; thus preventing honest mistakes as well as the more devious ones.
TimeClick will provide you with all the tools to get the most out of the investment you make in your employees every day. We have been helping employers manage their work force since 1993. Our simple user interface allows even the most technologically inexperienced employees to use the software with little to no training. Quickly streamline your payroll process with one of our 20 different reporting options. We even offer custom reporting that can be tailored to fit your needs. Get TimeClick free for 30 days, and see why over 5000 businesses worldwide trust us with their employee time tracking.