Buyer Guide to Time and Attendance Systems
According to the U.S Bureau of Labor Statistics, October of 2009 prove to have the highest unemployment rate since April of 1983, with a staggering rate of 10.2%. As of June of 2009, the average compensation for workers was $29.31 per hours worked. With more and more small businesses going out of business in these hard economic times, it is important to keep a tight track on all costs for your company, and save money wherever possible.
One way to do this is having a time and attendance system that will accurately record the time of each employee. Because no one is perfect, having your employee’s track their time manually can lead to errors, and in turn can affect your company’s bottom line. Experts have estimated the average time spent on chasing and manually processing employee’s time sheets is 8 minutes per week.
Time and attendance systems can help your company tremendously. Having a computerized system to help organize your employee’s time, will save you money and hopefully motivate your employee’s to be on time. There are a few different choices on the market for you to choose from. Some include, timecard software packages, biometric meters, web-based computer login stations, touch screens and interactive voice response (IVR) systems.
In this guide, we will go over these options, the costs and tips of selecting the perfect time and attendance system for your company.