Manual time-tracking with punch cards or handwritten time sheets/time cards is time-consuming and prone to errors. Time theft may occur through inaccurate or falsified reporting (e.g., buddy-punching is easier with manual time-tracking). The problem increases exponentially for a blended remote, hybrid, and on-site workforce.
End-to-end time-tracking process can be automated with a reliable Workforce Management (WFM) System that may be bundled with a payroll platform to record time in, time out, overtime, double-time, rest periods, meal periods, and allow hours to be assigned to specific projects or client accounts.
Streamlined Time Tracking
A Workforce Management (WFM) system automates time tracking, making it significantly more accurate and efficient than manual methods. Most of these systems work on multiple devices, allowing team members to easily log their work hours on computers and any other device that can connect to the Internet. A WFM can automatically capture data and eliminate the need for manual entry, helping to reduce errors (whether unintentional or intentional).
According to the Society for Human Resource Management (SHRM): “With the growth in mobile employees, many companies need to track employees’ time in the field or away from the office.”
Web-based time and attendance systems and mobile apps allow employees to punch in and out from anywhere they can connect to the Internet.
In addition to tracking time, a workforce management system provides robust documentation capabilities. It allows employers to securely store and organize time-related data, supporting/integrating with an organization’s payroll and wage & hour compliance efforts. Detailed records of hours worked, breaks taken, and overtime can be easily accessed for audits, payroll processing, and legal compliance.
An effective workforce management system is like a digital paper trail, helping to reduce the severity of wage & hour compliance risks.
Implementing a workforce management system benefits employers and promotes workforce accountability. By providing team members access to their time-tracking records, they become more aware of their work patterns, productivity levels, and potential areas for improvement. This increased transparency fosters a sense of responsibility and encourages everyone to adhere to their designated work schedules.
Moreover, a workforce management system can provide the data to help resolve attendance issues promptly. Real-time notifications can be sent to supervisors or managers when team members deviate from their schedules or exceed allocated breaks, enabling timely interventions and reducing productivity gaps.
By integrating WFM, Payroll platforms, wage & hour best practices, and providing accurate data to employees, teams, and management, auditing, payroll processing, and legal compliance can better work hand in hand, helping to ensure that all time worked is time paid.
Beyond Simple Time Tracking
The American Payroll Association reports that about 75 percent of U.S. businesses lose money each year due to time theft, inaccurate time-tracking, and error-prone payroll processes. Implementing a WFM system can significantly reduce these losses by ensuring precise time tracking and eliminating costly mistakes. Embracing technology to automate time-tracking processes saves valuable time and contributes to a more efficient and transparent work environment. By investing in a robust workforce management system, organizations can propel their productivity and profitability to new heights while fostering a culture of accountability and compliance.
At coAmplifi, we recognize that accurate time tracking is crucial to managing a productive workforce. Using manual time-tracking can lead to errors, financial losses, and legal issues for businesses. Organizations can streamline time tracking, enhance documentation, promote accountability, and improve project management by implementing our workforce management system. Contact us to learn more.