Small businesses all over the United States are pressed with the question on whether or not to track the hours worked for their employees. Business owners and managers may have concerns about employees being over(or under) paid, worried 
about compliance or may simply want to modernize the old school time clock system. This is where OnTheClock comes to the rescue, with features like an easy clock in/out for employees, robust PTO and scheduling, over 7000 companies choose and love OnTheClock. Here is a quick overview of how adding a modern employee time tracking system to your small company can reduce errors and save you time.
Reduce Payroll Errors
Using an employee time clock system reduces or eliminates errors in several ways. Firstly, it eliminates human error when manually calculating employee time cards. Studies show that there an average 1-2% error rate when calculating time cards. If employees are overpaid, your company is suffering a financial loss. If underpaid, its even worse, employees are undercompensated. Underpayment can result in employees not trusting you, or worse lawsuits or DOL investigations.
Saves Your Time
Your time is precious, it can take 2-3 hours per week to track down employee hours and perform calculations. On online time tracking system such as OnTheClock eliminates this wasted time. All hours are recorded in real time and are instantly calculated. Clock in/out time are easily adjusted is there was a early or late clock time.
Saves You Money
We recently did a study on how much a time clock actually costs using actual APA(American Payroll Association) statistics and found that using an online time clock actually saves you a significant amount of money. For company with 15 hourly employees, a company can expect at save over $45,000. This number may seem high, but after doing the research you can see how the costs add up quickly.
So What Is OnTheClock
So after you have read all of these stats on why you should use an employee time tracking system, you are probably wondering what is OnTheClock.
OnTheClock at its core is a modern employee time clock, where employers create an online account, add their employees, and employees can clock in/out from multiple platforms such as phones, tablets or computers. The costs starts at $2.50 per employee per month.
OnTheClock also offers a robust PTO(paid time off) management system. Admins and managers can setup alloted or accrued time off scenarios for each employee. Employees can then request time off using their desired portal, managers will approve or deny time off. Managers have a dashboard where they can see a high level overview of all employees PTO rules, allotted/accrued and used time off. Employees can see current PTO and PTO request status.
Also Read: Common Risks for Business Owners