16 Apr How To Manage Time Sheets
Time sheets come in an array of formats. From handwritten papers and punch cards to typed spreadsheets and automated time clock systems, you have options. All that matters is that you find a time sheet style that is clear and concise for your company. This will greatly improve your company’s ability to manage both in-person and remote teams by ensuring that everyone remains consistent while following the same practices no matter their role in the business.
What are the benefits of a time sheet policy?
There are three main benefits of a time sheet policy:
- Improves the accuracy of payroll.
- Makes it easier to bill clients in an accurate and timely manner.
- Keeps your company prepared for an audit at any point in time.
How can time-tracking tools benefit those in the workplace?
With time-tracking tools, you can help structure the daily work schedules of employees. These tools can also make it easier for your employees to stay focused and improve their productivity levels. They can also emphasize a healthy work-life balance.
By establishing clear and accurate records, you can make sure remote employees uphold their work-related duties. Since they are not in the office around managers who can check in on their work, time-tracking tools can ensure that everyone is putting in the appropriate and contractually agreed-upon number of work hours from home.
Also, by collecting information about the amount of time each employee allocated toward specific tasks, you can gather honest and objective insight into your company’s workflow. With time-tracking solutions, you can create records while making sure that your business remains in compliance with applicable laws. Ultimately, time-tracking tools ensure accountability across the board.
The many processes that time-tracking software automates
When you implement the companywide use of time-tracking software, you can automate an array of processes. Utilizing time clock software for your remote team mimics the clock-in and clock-out process of a physical office. This type of software generates a visual timecard for each employee, making it easier to track the time each employee spends working.
This system allows you to easily review your team’s timecards on a single screen as well. It can facilitate the identification of missed punches and errors. Plus, timecards can be viewed on a weekly or monthly basis. You can also review this information every pay period basis. Ultimately, this type of software has features that allow you to instantly identify the employees who are approaching overtime, which can yield significant cost savings over time as well.
Mobile app versions of this type of software are also available. Since unplanned overtime can inflate labor costs and affect the cash flow of your business, physical and mobile apps alike can help you calculate paid time off in a streamlined manner through the use of spreadsheets.
With 24/7 mobile access to timecard data thanks to online employee time sheets, your company will be safeguarded against time and wage theft claims because this process will maintain a secure and accurate record of all hours worked across the board.
In terms of time theft, this refers to situations where employees are compensated for time that they did not work, which can occur when paper time sheets are punched inaccurately. This can stem from intentional hour-padding and rounded-up hours or forgetfulness; these behaviors can contribute to increased costs on part of the company.
Wage theft risks can be mitigated by storing time sheets in an online time and attendance system. Make sure it is protected by secure time clocks. Also, grant real-time access to both managers and employees alike. This will also help you ensure compliance with the Fair Labor Standards Act, which mandates the recording of daily and weekly work hours.
It can be hard to not only create but also maintain high levels of engagement among remote employees. However, it’s not impossible. By putting a proper time-tracking system in place, you can successfully operate your company while prioritizing productivity levels and increasing your annual revenue for years to come.
Original content by © IndustryNewsletters. All Rights Reserved. This information is provided with the understanding that Payroll Partners is not rendering legal, human resources, or other professional advice or service. Professional advice on specific issues should be sought from a lawyer, HR consultant or other professional.