The Smartest Move You Can Make in Managing Your Employees
The life of a small business owner can be tough; every day there’s a new challenge to overcome or a new lesson to learn. There’s cash flow to balance, stock to move, products to develop, marketing to oversee and employees to manage. No matter the size of your business, it’s likely you’ve often felt like there just aren’t enough hours in the day.
Perhaps one of the biggest areas our time, money and resources are spent is on our employees. Employees can make or break a business; they are your customers first point of contact, they are the ones who make your product, who action your ideas, who put your dream to work. But they can also majorly drain your money and resources if not managed efficiently.
A key part of a business’s success and profitability comes down to the efficiency of their processes; not only operationally and administratively, but also the efficiency of the workforce. If not managed well, employees can take advantage of this freedom and there is the potential for time theft, where employees clock on late or clock off early, take longer than allocated breaks or are unproductive during work hours.
It’s not only time theft employers need to worry about; manually managing timesheets and payroll is a very inefficient use of time and resources. How many hours have you lost chasing up missing timesheets, trying to read illegible writing, questioning employee work hours recorded and manually calculating and entering hours worked? If your employees are still filling out a paper timesheet every week or you’ve found yourself frustrated with lost work hours or painful payroll processes, a time and attendance system can revolutionise the way you manage your employees.
What are the benefits of a time and attendance management system?
In today’s fast-paced environment, it’s more important than ever to implement practices that allow a business to produce better results with less management. Time and attendance software will:
1. Save you time: By eliminating the need for manually processing timesheets, creating rosters, authorizing leave and generating payroll, a time and attendance solution will free up precious hours that can be better spent on the business.
2. Save you money: A time and attendance management system can save you significant amounts of money by reducing administration hours, eliminating inaccurate time reporting, eliminating clerical error and reducing buddy punching, tardiness and time abuse.
3. Eliminate error and improves accuracy: Automated systems mean improved accuracy and less errors, again saving time and money required to fix errors, while also ensuring employees are kept happy.
4. Gives you powerful data: Time and attendance software provides accurate intel on the cost and return of your employees.
5. Increases productivity: A time and attendance management system not only significantly increases the productivity of administrative employees by giving them more time to focus on other tasks, but also increases overall employee productivity. These systems allow employers to look at data and trends in work hours, allowing them to highlight areas where worker productivity may be low and identify the cause of the problem early.
6. Avoids tax and penalty rate problems: Our time and attendance software feature intuitive award interpretation, allowing you to calculate multiple allowance types per employee or department. This means you can be assured you’ll never miss a late-night shift or public holiday rate. These systems also reduce the risk of any potential mistakes in tax filing.
No matter the size of your business, if you have employees and you don’t have workforce management software, your business is suffering for it. If your goal for 2019 is to work smarter, not harder, we can help! Contact the friendly Aussie Time Sheets team today to learn more about which time and attendance system is right for your business.
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