The First Way: Managing Overtime
You’ve probably heard time & attendance vendors state you can save tons of money by upgrading a paper-based timekeeping process to a more modern computer-based time & attendance system. Perhaps you wondered if these claims were true.
As it happens, because of the affordability of many employee time and attendance systems, and the many ways they can save you money, the ROI on such a system is generally fairly high, and the payback period is short, often as little as just a few months.
In other words, for many businesses, automating their time and attendance should be a no-brainer.
Over the next few weeks, our mascots, Tick and Tock, are going to take a closer look at many of the ways automated time and attendance tracking can save your business money. If you’re still using manual timekeeping, I hope we’ll be able to persuade you to consider automating your time & attendance tracking. If you’re already using an automated system, perhaps we can alert you to additional ways you can use the data from your system to save your business even more money.
Let’s start with an issue that keeps many small business owners up at night: overtime.
Getting a Handle on Overtime
One way an automated time tracking system can help you save money is by allowing you to better monitor and control your overtime costs.
Let’s say, for instance, things get exceptionally busy around your company. That’s usually a good sign, right? Of course it is!
But you could face an unpleasant surprise when you, your payroll clerk or your timekeepers start adding up employee timecards or time sheets and discover how much overtime your employees racked up during that busy spell.
If only you could have monitored overtime as the pay period progressed! You could have adjusted work schedules and workloads to maximize productivity while minimizing overtime. But if you’re using a manual timekeeping system, with even a few employees it can turn into a real hassle to add up those timecards or timesheets every day and figure how close key employees are getting to overtime status — especially when you’re already extra-busy yourself.
Automation to the Rescue
Automated systems allow you to easily track as you go each employee’s work time. Simply log in to the administrative dashboard at any time and you can quickly review each employee’s punches and cumulative hours worked.
Many systems also include convenient pre-built reports alerting you to employees who are getting close to incurring overtime. Some systems will even allow you to schedule reports to run automatically and will email the results to you for your review.
All this makes it simple and convenient for you to proactively manage your workforce — thereby potentially saving hundreds, thousands or even more dollars in unnecessary overtime over the course of a year.
When you’re serious about getting control of your overtime expenses, check out Acroprint’s cost-effective automated computer time clock solutions. We offer a selection of PC-based software solutions to meet almost any business need — starting as low as $99 — and a sophisticated, feature-rich web-based time tracking system for only pennies per day per employee.