The Importance of Employee Time Tracking
Thinking of upgrading your employee time clock? At Greenlink Payroll we can help! Keeping track of employees’ time is incredibly important when you own a business. However, we understand that it can be a tricky process as well.
Reasons to Track Employees’ Time
It may seem like tracking your employees’ time only helps with payroll, but it does a lot more. In fact, it’s one of the best ways to keep your business effective, profitable, and productive. Keeping track of time can help with budgeting, estimating, and compliance with government and industry regulations.
As your business grows, tracking time can also let you know when it's time to hire new employees. It also allows you to better see when your business is at its most profitable and increase your payroll accuracy. Payroll errors add up and can cost you a lot of money in the long run.
Time tracking can even help you be a better and more effective leader in your business. It allows you to provide better performance reviews for your employees. Numbers are free of biases so you will be able to see when your employees are at their strongest and when they may need some constructive criticism. The data also helps to protect your employees and keep them better organized.
Salaried vs Hourly Employees
When you think of tracking your employees’ time, you may think that salaried employees should be exempt. That’s simply not the case. Quickbooks reports that tracking salaried employees’ time can help protect not only the employee, but you and your business as well.Fair Labor Standards Act wage and hour lawsuits are on the rise. Since 1995, FLSA lawsuits have increased 456%. Some salaried employees are taking their employers to court citing that they have been consistently overworked and underpaid. Keeping track of every employee’s hours work can help ensure that you are complying with FLSA standards.
At Greenlink Payroll, we understand how important payroll and time tracking are to your business. We want to help you better manage your business by making it easier to keep track of your employees’ and their time clock data. Our HCM solutions offer various time clock hardware options, overtime and premiums, meal and break tracking, and more. We’ll also alert you to any errors we encounter.
To find out more information about the many services we offer, request a free quote or call us at 480.385.2525.