Controlling payroll-related costs can be facilitated considerably by the implementation of software to track employee time and attendance. Software can also free up the time of human resources employees by negating the need to sort through time cards and calculate employees' logged hours.
In contrast to filing cabinets or an abundance of disparate electronic spreadsheets, attendance tracking software can store information about employees' schedules, overtime and pay rates all in the same place, which can help to streamline the payroll process by eliminating the need to search through records.
Additionally, such software can help eliminate time theft and falsification, which will ensure that employees are paid as accurately as possible.
Recent reports by the Boston Globe and the Denver Post indicated that U.S. companies lose nearly $400 billion in lost productivity due to time theft or idleness.
According to recruitment specialist Robert Half International, two of the most common forms of time theft are habitual lateness to work and leaving work early, which can easily be combated using employee management software.
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Web-based attendance software saves companies time and resources, yet for some reason, many businesses still find themselves using paper timesheets.
Time tracking software and equipment can provide many significant benefits for small business owners.
Recent high-profile Fair Labor Standards Act judgments against and settlements with restaurants that employ delivery drivers highlight the importance of using proper employee tracking software to accurately record hours worked and increase compliance.