Two Methods of Timekeeping: Manual vs. Mechanical
Timekeeping is a necessary part of running a business. However, figuring out how to keep track of all your employees’ time can be challenging. Should you use a manual system or a mechanical system? Which one’s better? In this article, we will break down two methods of timekeeping systems used in businesses across the country. I’ll explain the differences between the two and finally, tell you which method is most beneficial to business owners such as yourself.
Importance of Timekeeping
Have you ever heard the phrase “time is money”? Whether it is being made or paid, managing your money is one of the most crucial parts of running a thriving business. Accurate timekeeping can help business owners better manage the money that they make or owe regarding time. Here are a few examples of the importance of precise timekeeping.
Payroll
When you have a reliable timekeeping system within your business, it takes the guesswork out of employee wages. These automatic systems will be able to combine the employee’s hours and hourly wages to turn that data into the total wages they are owed. This removes the guesswork out of the entire process and helps to create a paper trail of accurate salaries paid to each employee.
Employee Evaluation
Many business owners use timekeeping systems as a way of viewing overall attendance for their employees. This attendance can be used as part of an employee evaluation, which can determine employee work habits and who is typically tardy or early to work consistently. Employee evaluations can be a great way to maintain a strong workforce. As well as learn more about your current employees to increase morale or create a better work environment.
Abide by Employment Laws
As a business owner understanding employment law is critical to avoiding hefty fines and potential legal troubles. Using a timekeeping system allows you to abide by these laws and protect yourself from issues that can arise from over or underpaying your employees. Not to mention keeping your business out of trouble with the IRS. Just thinking about dealing with troubles regarding the IRS is enough to give any business owner a headache.
Manual Timekeeping
Manual methods of timekeeping are almost archaic in how they operate, especially in a world that is overrun with new technology daily. For business owners that have been around for many decades, they have witnessed new advancements in timekeeping. However, many of them rarely adapt to the changing systems and often leave timekeeping, an aspect of their business untouched by the changes.
Business owners who refuse to change to more advanced timekeeping systems may be left having their employees clock in on “POS” systems, punching on a physical timecard, or taking manual attendance of their employees as they arrive. Although these methods may still work in today’s world, many issues can arise that can make the overall benefit of timekeeping this way unrealistic as a practice for a successful business.
Mechanical Timekeeping
Automated timekeeping systems make the lives of employees and business owners much easier when it comes to accurate timekeeping. These systems are designed to take the guesswork out of the entire process and have many added benefits to all involved. Paperwork is much easier when automated timekeeping systems are in place. It can also better manage employee attendance for those who work out of the office. In today’s world, remote work is becoming the new norm, and these systems are developed to allow business overs to evolve with the times.
Are you a Jacksonville business owner looking to incorporate more accurate timekeeping within your business? If you are ready to evolve with the times, give us a call to discuss ways to improve your efficacy and profitability by implementing a secure timekeeping system today! Here at Vision HR, our experts can help you implement more manageable and beneficial ways of timekeeping.
