Are time cards right for your business?
Time cards are a good option for businesses with a staff that’s paid on an hourly basis. They’re also good for any workplace that wants to use a time clock to boost productivity, forecast labor resources, and monitor project progress. They’re also a way to stay legally compliant. It’s best practice to maintain timesheets if you’re running a business in the United States. That’s because you’re required by federal law to keep records of hours worked (and to maintain those records for a minimum of 3 years). While some employees are exempt from these requirements, they apply to almost all hourly workers.
The Benefits of Time Cards
Whether your time cards are traditional paper or stored in the cloud, they can help run a better business.
- Boosted Productivity. Time cards are a way for employees to keep an eye on the clock and make sure they’re using the most of their hours.
- Punctual Attendance. Time cards encourage workers to start and end on time and as scheduled since punches punctuate their shifts.
- Labor Analysis. Time cards provide a valuable labor record that can be used to create effective schedules and prevent understaffing.
- Legal Compliance. Maintaining time card records will keep your business covered in the event of litigation or an audit.
- Payroll and Invoicing. The most practical benefit of time cards: they make it easy to pay workers and bill clients on an hourly basis.
While paper time cards can be a hassle to collect and correct, modern time clock technology digitizes time cards, making them more accessible than ever.