If you’re a small-business proprietor You are probably aware of how the proper management of resources can make the difference between having a successful company and one that is struggling. When cash flow, inventory, and supplies are all things that come to your mind, one of the most crucial things that small-scale business owners must be aware of is time.
When you add more employees to your team the hours they work as well as, consequently productivity can be assessed with the aid of either a physical time clock or an app for time clocks. Couple this with the possibility that they can be integrated with payroll software and you’ve got an essential device that can make your business save many thousands.
Similar to the majority of modern tools for business, a variety of factors are crucial when choosing the most suitable time clock for your small-sized company, because a myriad of choices are readily available. The choice of a physical time clock that is biometric in your office or a cloud-based option that employees can use to check in and out of the office is dependent on the structure of your company and payroll system as well as your requirements. When you are looking for the perfect time clock solution, here’s a list of things to consider before committing.
What makes a time clock for employees crucial for small-sized businesses?
If you do not have any employees ready when your business starts, or if employees aren’t working in an hourly manner then it’s sensible to delay implementing the implementation of a time and attendance system. However, many businesses that are in the beginning need some kind of hourly work to grow their workforce. As your team expands and more employees contribute to the company you’ll need to incorporate the use of software for time and attendance.
A reliable time clock is essential for small companies for several important reasons.
1. It assures an exact compensation.
First of all, time clocks are a fair and equitable method to ensure that your employees get paid the amount they’re due. Reliable software for time clocks and attendance can make tasks easier, such as payroll and scheduling for employees. managers.
2. It stops time theft.
Time clocks can also decrease the risk of employee fraud and theft by highlighting irregularities between a worker’s clock-in or clock-out practices. In a survey of 1000 employees conducted by QuickBooks 49% of them admitted to being guilty of time theft and 46% admitted to “adding between 15 and 60 minutes” to their timesheets. Incredibly, 3 percent reported adding more than an hour of non-worked minutes to timesheets. Intentional or accidental fraud could cost businesses hundreds of thousands in wage costs as well as loss of productivity.
3. It aids in tracking payroll.
Another crucial purpose of time clocks is keeping track of your pay. The ability to establish the paid time off (PTO) procedure in a manner that your employees who work part-time or full-time comprehend creates an efficient process. Some time clocks allow you to create your payroll policies within their parameters, while automatically handling all calculations required and cutting down the time spent in the process of paying your employees.
4. It regulates attendance.
A reliable time-tracking application will notify you of any irregularities in attendance that pop up. Sometimes, employees show up to work late, leave early work, or are often “sick” on certain days. Although some of these instances could be random, however, some profit from lax policies regarding attendance. Infrequent absences cost your business money because it drives up costs for labor, so an approach that helps you recognize and fix problems the moment they occur can help you save time and money.
5. It is responsible for managing labor costs.
The majority of modern time clocks provide actual-time information. When implemented software to track time and attendance will show you which jobs take up the most time and what the costs for overtime are and how your business is compared with industry norms. With this information in hand, you can make adjustments according to your needs, keeping your costs for labor reasonable.
Best time clocks for small business
There are numerous types of time clocks. They range from basic hand-punch clocks, as well as modern options that use face recognition and biometric identification. Here are a few of the most effective time clock options for small-sized businesses.
Best starter time clock: launch Starter Time Clock Bundle
This is a fantastic starting time clock set designed for small-sized businesses. It includes a launch HN3000 AutoAlign time clock 100 time cards, two keys, a rack for time cards, and an ink ribbon. If you’re looking for an affordable time clock system that will monitor the arrival times of employees’ break times and lunches, as well, as their closing time it is a good and inexpensive alternative. It’s a punch card system, and you’ll eventually require more time cards to refill however, refills are fairly inexpensive.
The best biometric time clock The uAttend BN6000 biometric fingerprint time clock
The uAttend-BN6000 is a fantastic entry-level biometric time clock. Employees can check in and out using their fingerprints.
Biometric technology is increasingly being used for time clocks. The requirement that employees be able to clock into and out using their fingerprints minimizes the possibility of time-related fraud since employees can’t ask coworkers to count them in when they’re late or have left early.
Time clock with the best PIN The Total Pass P600 Time Clock for Employees
The Total Pass P600 is a PIN pad timer that allows employees to clock in and out using the four to nine-digit PIN. The time clock lets you export payroll information to popular payroll applications like QuickBooks or Paychex. It also has the Web Punch feature that allows employees who are located in different locations to punch in online.
Best multipurpose time clock: Pyramid 3500 Time Clock & Document Stamp
It is a basic, and reliable time clock for punch cards. It also functions as a document stamp. Pyramid 3500 comes with 14 preprogrammed stamping settings. You can use it in the office to keep track of time and attendance, as well as documents faxed or mail requests.
The best software for managing time and attendance for small-sized enterprises
Software for time and attendance is an excellent alternative to traditional time clocks. This is particularly true when your employees are working from home since you’ll require a method to keep track of their work hours and attendance.
Here are the top time and attendance methods to take into consideration.
BambooHR
BambooHR is a fully cloud-based HR solution that has automated time-tracking and attendance features. It is necessary to purchase the time-tracking feature along with the regular monthly fee.
The BambooHR time tracking tools are daily time entries for employees timesheets for employees, automated reminders of attendance and time approval workflows, automated overtime calculation, and payroll reports. Find out more about BambooHR in our complete analysis of BambooHR time and attendance.
QuickBooks Time
QuickBooks Time is a service for mobile devices that tracks employees’ locations using GPS. It’s an excellent alternative for employees working in the field who require visits to clients or other locations offsite throughout the day. It will send you updates about employees’ locations to know how they’re progressing on their routes for service or sales. Discover more information in our extensive study of QuickBooks Time.
Clockify
Clockify is a cloud-based tracker that lets users not only record their hours spent at work but also record the hours they’ve spent on specific projects. If your company is in a business where billable hours are required to be recorded Clockify could be a great tool.
Clockify offers a no-cost plan for time tracking, which includes access to unlimited users and unlimited projects, as well as endless reports, client service applications, and integrations. The free time and attendance options such as this offer a fantastic option for small-scale businesses for saving money however they are often limited in their use. Learn about the pros and cons of these free time clocks and see which one is best for you. You can also learn more about the particular program in our comprehensive analysis of Clockify.
When I Work
If your employees have varying schedules, you might want to consider employing the service called When I Work. This is a great option for the restaurant or retail employees with shifts that are frequently changed and special scheduling requirements. Take a look at our full When I Work review to find out if it’s a good fit for your company’s requirements.
