A time clock is a type of clock that is used in the workplace for tracking and recording employee hours. This device is also referred to as a punch clock or a time card machine. Properly recording employee’s time is key to small business success. If you are a small business owner then you understand the value of accurate time tracking. By recording employee hours accurately, you are assured to keep payroll expenses within budget and increase profits. If you are an employer or small business owner that does not have a modern time clock then you may want to continue reading this article.
Traditional time clocks
The traditional time clock is a device that is mounted on a wall somewhere located inside a place of employment. Employees use a time card to slide inside the time clock machine to punch the current time onto their employee timecard. Once the workweek is completed, the time cards are manually added up by the employer to get the total amount of time that the employee worked to figure out how much he/she will be paid for a specific workweek. This can take a lot of time for the business owner, manager, supervisor, or whoever the boss may be to manually calculate everything. Thousands of hours are wasted per year from small businesses across the world by the use of the traditional time clock.
Digital time clocks
There are a few different types of digital time clocks actually. They are usually used to record a time based on when an employee swipes his/her work badge almost like a credit card or the employee will manually punch in a PIN number onto the digital keypad.
Group punch station
The Group Punch Station is designed by OnTheClock to mimic the function of a wall-mounted time clock, allowing multiple employees to punch in/out rapidly on a single PC (Personal Computer). You set up a specific computer that you register as a Group Punch Station. The employee only has to put in their employee number to punch in or out. They do not have access to view their PTO, request PTO or view their time cards with this option. This option can also be used if you want to make sure your employees only punch in at your office. You can use the Group Punch Station on a PC, Tablet, or Phone.
Biometric/Fingerprint time clocks
A fingerprint time clock is a lot more secure and since no two people’s fingerprints are identical, it totally eliminates buddy punching. The employee uses this time clock by using a fingerprint reader to identify the individual. Employees can punch in and out from a laptop, desktop, or tablet with a fingerprint reader that is connected to it. This option is quick, accurate, and ensures that the employee is present.
Web-based time clocks
Web-based and online time clocks are the most modern and efficient time clocks offered. These time clocks are completely cloud-based which stores information safely and can be accessed anywhere in the world where you have an internet connection. Punch in and out times are recorded to the second and automatically calculated onto a time card to eliminate employers from manually adding them up. This saves a lot of time and is 100% accurate, keeping your small business on track financially.
Many options and features come with a web-based time clock system. Users are able to use GPS tracking, geo-fencing, employee shift scheduling, PTO tracking, mobile apps, job costing, and much more. OnTheClock offers a 30 free trial.
Mobile time clock apps
On The Clock’s mobile time clock apps are downloaded onto a mobile device through the App Store or Google Play Store free of charge so employees can clock in right away without wasting any time. Employees can receive reminders from the system that notifies them when they need to punch in or out. This option helps eliminate any unnecessary overtime and also helps prevent time card mistakes. This is also a great time clock option for remote workers.
Tracking employee attendance
According to softwareadvice.com, 43% of employees commit time theft. In addition, it is estimated that time theft costs businesses $400 billion annually in lost productivity. A great benefit of using an employee time clock for small businesses is to track attendance. Many employers don’t completely know the number of days that an employee has taken off or missed due to sickness, holidays, vacation, or personal days. With OnTheClock’s web-based employee time clock for small businesses, employers are able to have employees request days off and the administrator or manager on the account can approve or deny the request. This can help small businesses know and understand who is missing days.
Employee time cards
Now that you are able to track your employee’s hours a lot easier, a small business is then able to have accurate time cards. Time cards that are produced by OnTheClock are a great way to start decreasing payroll expenses because everything is tracked to the second while using a web-based time clock. This means that small businesses will be able to eliminate punch rounding which adds up quickly every year. These time cards are automatically calculated and they are ready for payroll. With QuickBooks integration, it makes it extremely easy to do your payroll from an online time clock with just a click of a button.
Benefits to having an employee time clock for a small business
As you can see from the information stated throughout this article, there are many benefits that a small business can gain from having an effective and efficient time clock in place for a small business. Let’s face it, the traditional time clocks that you punch a timecard with are outdated and not accurate. Many small businesses are making the switch to a web-based time clock system that has biometric/fingerprint reading, a mobile app available, GPS tracking and geo-fencing options.
Here are some benefits that online time clock users experience:
- Saves time
- Reduces payroll costs
- Increases productivity
- Accurate time cards
- Cloud-based so information is securely saved and accessible whenever needed
- Allows employers to know who is punched in or out
- Reminders were sent to employees to punch in and out
- PTO tracking
- Relieves stress
- Prevents buddy punching and time theft
- Increases bottom line
It’s time for companies to start tracking employee hours properly and accurately to operate a productive and successful business.