Since May 2019 it is clear: employers in the EU must set up a time-tracking system enabling the daily working time to be measured. Therefore, employers need to decide whether they want to implement a Time & Attendance Software (T&A) or go forward with manual paper time tracking.
Implementing new software can seem daunting. Many employees can resist change and think paper processes are easier. However, it bears many potential risks and costs, which can easily be avoided by T&A software.
👉 Here are 5 ways paper time tracking costs you money:
Manual Entry Leads to Avoidable Errors
Humans are not robots and therefore errors cannot be avoided. Were you ever in a situation where you rounded up numbers of your working hours for convenience? You are not alone. Time theft happens on a daily basis, whether it is through early checkout, longer lunch breaks or through buddy punching.
An extra 10 minutes per employee per day may not seem like much in the first place. However, these extra minutes per day can result in a yearly loss per employee of several hundred euros. With T&A software time theft will be history as hours cannot be manually adjusted by employees.
COVID-19: Time-Consuming Contact Tracing
COVID health & safety regulations are being introduced and updated constantly in each country. HR needs a tool to easily control shifts and office occupancy which complies with local & state rules. Without a proper tool to manage employee numbers on-site, contact tracing can be a major problem.
Paper timesheets have to be checked manually, which will be a time-consuming process. Time is short when one of your employees is infected. To keep your staff and customers healthy & business loss as low as possible, you need a simple tool that can give you quick answers. In a few clicks, T&A software can give you the results you need without looking through timesheet after timesheet, losing time you don’t have.
No Clear Overview Over Employee Costs
Without having a centralised management system to track time & attendance, it will be an obstacle to understand, how much your employees have worked. It can result in under-utilizing your employees. Also, it could result in unnecessary overtime that could be avoided, if the working hours of employees were clearly communicated.
Overtime is sometimes necessary to finish a project on time. However, with manual time tracking, the possibility of losing track of overtime costs and overshooting your budget is considerably higher than with a T&A software. T&A software allows you to oversee your costs within a simple & customisable dashboard. This will avoid you from getting a shock at the end of the month when you evaluate the timesheets for payroll.
Employees Get Paid Based On False Working Hours
Delivering accurate payroll is calculated on the base of the time tracked by your employees. If time cannot be accurately tracked, your payroll may be full of errors and ultimately cost you more time & money. Did you know that currently payroll expense makes up as much as 50% of employer costs?
A study also showed that already two payroll errors will result in 49% of workers leaving their job. By integrating T&A software your pay checks will automatically use the accurate working hours tracked by the system. Therefore, it significantly enhances the employee experience & minimizes the risk of over-or underpaying your employees.
Employee Well-Being Won’t Be Easy To Track
The pace of today’s workplace is fast & the mentality of being ‘always on‘ means that a lot of employees easily feel the pressure to 24/7 be productive & deliver results -without taking into account signs of exhaustion of their own body.
With manual time sheets it is a challenge to oversee overtime of individual employees, monitor absences and check for unhealthy work patterns. However, this is incredibly important. Without healthy and happy employees you will not be able to deliver the results you want. With T&A Software you easily can oversee the data & act on it as soon as you realise unhealthy patterns. Your employees well-being must come first as they are your most valuable asset in driving the business.
👉 Are you at the point now where you question your decision to implement manual paper time tracking?
👉 Then let us support you in finding a software solution that is specifically targeted at your business & your needs. Contact us now– we are happy to enhance your business and give you back valuable time & money!
