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3 Ways Time & Attendance Automation Can Limit Labor Costs

Even though an automated Time & Attendance system is very economical, some employers still aren’t convinced that it’s more cost effective than manual systems.

Here are 3 important ways an automated Time & Attendance system can limit labor costs and yield a consequential ROI:

1. Employee Time Theft

If you haven’t caught any of your staff members fudging on their time cards—it’s only a matter of time (pun definitely intended). In a survey of over 500 retail and service industry staff members, over 30 percent admitted to blatant time theft. The two types they referred to specifically are buddy punching and recording incorrect start and end times.

2. Reduce Administrative Costs

With paper timesheets, your managers spends tedious hours troubleshooting timesheet inaccuracies and then manually entering the data into the payroll system. When your HR staff can submit payroll in minutes, they are free to work on business initiatives that have a bigger payoff. Overtime policing can also be time consuming, which leads us to number 3:

3. Minimize Expensive Overtime

Companies that mismanage overtime for hourly associates can really take a financial hit. Manual time and attendance systems don’t have built-in warnings to alert managers when employees are approaching or have exceeded their authorized hours. The larger your business, the more unexpected overtime costs you. Workforce Management Suite customizable overtime warnings are one of the most popular features in our system.

Bottom line

These are just some of the standard benefits of an automated time & attendance system. There are several other compliance based benefits as well, such as properly tracking meal breaks and properly paying meal break penalties! With a time & attendance system put in place, you can set up rules based on local, state, and federal policies keeping you always in compliance.

A cloud based Time & Attendance program will quickly pay for itself and continually save you labor expenses every single payroll!

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    This article provides general information and shouldn’t be construed as legal or HR advice. Since employment laws may change over time and can vary by location and industry, please consult a lawyer or HR expert for advice specific to your business. You can also contact Payroll Systems to inquire about our HR support services.