In a post pandemic economy, managing your payroll cost is mission critical, and a key factor in this is managing how you capture the data you use to prepare your payroll.
The question Who Worked When? is one employers have been asking forever. And now, being able to answer that question is even more important.
Over the many years I have spent helping and supporting employers have learned there are for key "T's" when it comes to employee time and attendance.
Employees want to know they are being paid accurately for the hours they work and equally you want to know that the hours you are paying your staff have are real. Unfortunately timesheets are the most creative way to track staff time as some staff will record what they think you need to see and this erodes trust. Then from he other side some staff will worry that you are not calculating or keying the time correctly which erodes trust from the other side.
If you are using your timesheets to track jobs, there is is also the trust aspect that your clients want to know are paying fairly for the time it has taken to do the job.
You want to pay your staff accurately and on time, and they want to see you doing this also. You also want to be able to see this in as close to real time as possible and not at the end of the week, when it is too late.
In addition to the financial benefits of improving the way staff track their hours, there is the increasingly important consideration of compliance which is often overlooked. In recent times we have seen the spotlight being put on employers for their lack of accurate record keeping when it comes to meeting their obligations under:
• The Employment Relations Act
• The Holidays Act
• The Health and Safety at Work Act
Under these Acts, an employer is required to keep accurate time records Who Worked When and be able to present them to an employee or their representative when asked. Could you do this?
Many business owners and admin staff are "time poor". They have so much on that even saving a few minutes per week would be a huge help. When it comes to managing employee attendance via manual systems such a paper timesheet, it can take time out or an already full day. We often here the complaint about timesheets that they are late (or even lost) and you have to chase them, they inaccurate (or even illegible) and you have to spend time deciphering them and then finally once they are in a state that you can use the data to pay your staff, you then have to spend time keying the data into a payroll and/or job costing system.
TimeCreep -is the effect of the small, incremental and often hidden costs of incorrect recording of time, tardiness, rounding errors, calculation errors, buddy punching etc plus potential keying errors and the time it takes to key data into your payroll or job costing system
Eliminating the cost of TimeCreep can save a business thousands of dollars a year. International Research has identified found that using manual systems for tracking staff hours can have a real financial impact on your business. They identified 4 keys areas:
Moving to a digital platform which take the 'Human Factor" out of the process will eliminate these issue and ensure you can be confident in the Trust, Timeliness and Transparency of your time and attendance process while also eliminating Timecreep.
This is why we created TimeHub and MyTimesheets:
TimeHub and MyTimesheets are cloud based, employee Time and Attendance/Digital Timesheet systems designed to improve the way businesses like yours track the hours' staff work. TimeHub and MyTimesheets capture your employees’ attendance where they are, using a Fixed or Portable Tablet (or even their smartphones)
If you would like to book a free, no obligation chat about you can manage the Four T's of employee attendance you can do that here: Talk to Steve