3 Cost Effective Reasons Your Company Needs An Employee Attendance Tracker (#3 Alone Can Save Thousands!)
Fact: If your company manually tracks its employees’ attendance, it could be missing out on savings of hundreds (even thousands) of dollars per year.
Just read this statistic…
According to the American Payroll Association, companies could save an average of 9% on gross payroll costs each year if they were to automate their time and attendance tracking.
And that’s just the tip of the iceberg.
Below, we’ve outlined the top three cost effective reasons why you should strongly consider using an automated employee attendance tracker.
Reason #1: Saves valuable time.
On average, it takes supervisors between 1 and 7 minutes to check each employee’s timecard.
Let’s say you have ten employees currently working under you, and timecards are handed in and reviewed just once a week. Forgetting about correcting errors on the timecard, simply reviewing them alone can cost you approximately 9 hours to 61 hours of productive time every year.
Just think what you could accomplish if that extra time was spent in marketing or managing or streamlining your business.
Reason #2: Helps prevent costly tracking errors.
We’re human. Which means we’re going to make mistakes. And mistakes almost always cost us one of two things (often both): time and money.
With automation, the risk of making costly mistakes and errors are dramatically reduced. That’s because you no longer have to worry about waiting for paper time cards to be filled out and turned in, reviewing written time cards for errors, or manual entering data into your company’s payroll system.
You cut out a substantial number of unnecessary steps, where each step could mean a mistake in attendance recording that could possibly cost your company big money.
Reason #3: Helps protect your business from legal action and audits.
Want to know two foolproof ways to protect your company from costly audits and lawsuits in regards to attendance?
- Develop reliable systems.
- Consistently use said systems.
Reliable systems (for general tasks like information storage, decision making, and business processes) help insure you’re setup to perform the steps required to abide by both industry and federal policies.
And consistent use of those systems effectively decreases your risk of facing costly legal and tax-based ramifications. Where your company’s systems are like a protective shield, its consistent use of those systems is the hand that holds it up.
Employee attendance tracker software fits perfectly with both protective measures. The software itself creates the bones of a reliable attendance tracking system, and its easy-to-use features make consistent use as simple as inputting a few numbers each week.
How SoftTime Online Can Help You Automate and Save (Big) Money
SoftTime Online is our reliable web-based system for managing your employees’ attendance that will inevitably save your company hundreds (if not, thousands) of dollars each year in unnecessary attendance-based costs.
We can save your company’s employees valuable time by:
- Supplying an intuitive and easy-to-use user interface. Where literally no professional training is required and everything can be easily learned using short how-to videos.
We can help prevent your company from making costly tracking errors by:
- Providing robust reporting on top of built-in attendance calculations. All you have to do is take a couple of seconds to enter the time. And then review our easy-to-read reports to make sure everything checks out okay.
We can help protect your business from legal action and audits by:
- Giving you industry-specific attendance solutions. Via a web-based attendance tracking system that’s customized specifically for your business and industry. Compliance with your industry’s policies will no longer be a concern.
If all of the above appeals to you and your company, then we invite you to learn more about SoftTime Online’s web-based employee attendance tracker software and how it can help save your business thousands of dollars in costs each year.
Click here to contact one of our client service specialists and sign up for your free 30-day trial!