Does managing time and attendance make payroll a pain for your company? Do your employees still punch time cards? Is fuzzy timekeeping leading to over-inflated paychecks? Automating your time and attendance systems can pay dividends for your company in increased efficiency and time saved.
Electronic time and attendance systems offer definite advantages for your business. They eliminate the need for manual time cards, keeping track of the information electronically and performing all the necessary calculations. This reduces the chance of human error.
The automated calculations mean less chance of tax and benefit problems. Keeping better track of employee hours can also shield your company from the threat of lawsuits from employees over unpaid time. On the other side of the equation, it can also make it harder for workers to pad out their time, a practice described as “time theft” by Workforce.com:
A 2009 study conducted by Harris Interactive Inc. showed that 21 percent of hourly employees admit to stealing company time. While only 5 percent participated in buddy punching, 69 percent said they punch in and out earlier or later than scheduled, 22 percent put additional time on their time sheet, and 14 percent didn’t punch out for unpaid lunches or breaks.
The systems often offer mobile apps for smartphones, which benefits employees in an age where work and home can overlap. The Bureau of Labor Statistics reports that 24 percent of U.S. workers work at least some hours from home weekly. A
survey by the Families & Work Institute reveals that about 63 percent of businesses allow employees to periodically work from home.
Progressive Employer Management Company understands the importance of payroll to your business and your employees. We also understand how cumbersome the administration of time and attendance can be. When you partner with PEMCO our team of experts manages your employee payroll deductions for taxes, court-ordered payments and garnishments as well as quarterly filings of FUTA/SUTA and Federal 941. You also have a dedicated Payroll Specialist for continuous service and support, allowing you to focus more time and resources on the success of your business.