As a business owner or manager, you know there is an inherent risk associated with every decision you make. There are also risks of not taking action. Sitting idly by and not ever taking action can negatively impact your business and lead to its ultimate demise. This includes deciding to implement an employee time clock app.
Owning your first business is a huge and scary step in life, and it never gets easier or less intimidating. Owning a store for over 20 years takes hard work, dedication, and a spirit that not all possess. No matter what stage your business is in, there are reasons you should be switching to an employee time clock app.
There are many myths about using this software, making it more challenging to make an informed decision. However, it’s important to know that there are several risks you’re taking by not making the switch.
The Top 4 Risks Of Not Using Time Clock App
As mentioned, there are risks associated with every business decision you make. Unfortunately, your business can have some adverse outcomes by not using a time and attendance app. You can avoid many of these adverse outcomes by implementing a timekeeper app at your place of work.
Believe it or not, by not using an employee time clock app, you risk impacting employee happiness. Job satisfaction is fostered through transparent time tracking, accurate pay, and increased job autonomy. Without a modern system to promote this kind of work environment, you’ll see satisfaction levels dip, along with productivity.
With online timesheet software, you can ensure everyone gets paid the appropriate amount, has control over their time tracking process, and is focused on completing any task at hand. Not only does this software improve employee happiness, but over job satisfaction for management as well. An employee time clock app can take what was once a complicated process and make it as streamlined as possible.
Perhaps one of the most impactful risks of not implementing an employee time clock app is lowered profits. Unnecessary overtime is something many businesses run into by not using this software and can quickly eat into your labor costs, ultimately impacting your profits. Additionally, not being able to accurately job cost can impact profits.
One of the many great features of online time clock software is monitoring who is nearing overtime. You can get alerted if an employee has reached overtime and replace them with someone who hasn’t yet. You can also make better scheduling decisions to avoid incurring overtime in the first place.
With an employee time clock app, you can also better understand where your money is going. You can see who is working on what project, for how long, and if they’re on task to meet their deadlines. You can then use this information to better plan your budgets.
Significant Time Theft
Unfortunately, with old school time tracking systems, there are times when employees will ask their friends to punch them in. If they are running late, you will not know and pay them when they are not there. Time theft costs can add up quickly and impact your business’s ability to make consistent profits
Luckily, with a modern employee time clock app, you can put security measures into place to ensure employees are only punching time for themselves. These security measures vary from one solution to the next but often come in the form of biometrics. This could include facial recognition as well as fingerprint or iris scanning.
Running a business is so stressful, and not using a timesheet management app can add more stress to your day. This software allows you to limit the administrative tasks that take a lot of time and focus on other crucial things for a functioning business.
Adopting an employee time clock app allows you to track crucial time tracking and attendance information such as who has vacation time or has requested off sick. You can see who is continually on time for their shift or is late, requiring others to work overtime. Having this information available at your fingertips keeps you informed and your team happy.