Time Tracking and Payroll Integration – How It Helps Your Business
Time and attendance tracking is the most important task in the workforce management process to manage. Many organizations use separate, non-integrated systems for employee time tracking and probably still experience those inefficiencies every day. Which can be alleviated with an effective integrated system. Integrations between time tracking systems and payroll software can have a major impact on a company’s bottom-line and overall employee engagement.
An integrated system ensures all information is consistent across every system within one company. Since information is automatically updated, it reduces the workload on the HR department from entering data multiple times into different systems. Data can be analyzed, and reports pulled all in real-time. Managers can review and approve employee working schedules and time for payroll processing with higher efficiency and accuracy than ever before.
Here, we list a few key benefits of time tracking and payroll integrations.
Reduces Paper and Administrative Work
A significant reduction in paperwork is a key benefit to all companies and their employees. With an integrated system, there is no more printing paper timesheets or manually entering data into the payroll system. Once the data from the time tracking system is imported into a payroll solution, HR staff can automatically calculate and process payroll efficiently. All records will be automatically updated in employee profiles, allowing employees quick access to their individual payroll details while reducing the need for paper checks.
Data from employee benefits, tax forms, and compensation should only be entered once in a single interface. Minimizing the administrative burdens on HR staff; they can now focus on strategic activities such as employee engagement, training, and much more.
Efficiently Handling Employees
An automated time tracking system provides managers with the ability to match scheduling with workload projections. Helping to enhance workforce efficiency, meet business goals, and control costs. Robust analytics enable managers to review employee time and attendance data, looking for opportunities to be more streamlined, and eliminate bottlenecks which decrease productivity. Integration helps quickly import the data into budgeting systems, allowing managers to make more useful decisions with all the available information in hand.
Improved Compliance Management
An automated system helps maintain compliance by allowing managers to set specific notifications for when schedule conflicts appear. You can better manage employee overtime and remain within government, contractual, and company guidelines regarding scheduling and compensation, at all times.
Employee work time details and policies can be archived to help stay in compliance with various wage and labor laws. When your business is audited for allegations of wage and hour violations, the data generated through an integrated system can help ease the audit process.
Employee Satisfaction Boost
Scheduling and managing time-off requests are crucial in maintaining a happy and stable workforce. Organizations which offer employees enough hours to maximize their incomes, while also being flexible to accommodate leave requests, can generally foster a strong and desired employee experience. With an online system, it is easy to quickly react on time off requests and manage planned leaves to reduce their effect on your organization.
Salary can also significantly impact workforce satisfaction rates. Once payment increases are entered, the system will automatically update the employee’s new pay rate, enabling the raise to go immediately into effect. When the HR department has the right tools to act quickly on these actions, employees feel more valued and satisfied at work.
Improved Data Accuracy and Security
Streamlining data entry helps improve the accuracy of payroll and employee time and attendance information across platforms. When authorized personnel enter data and later access it, the information is going to be accurate each time, meaning there is less chance of errors across platforms.
An integrated system can also help enhance data security, since payroll and time tracking systems contain extremely sensitive information, such as salary and personal details on each employee. By integrating these systems together into a more secure solution, you can lower the chance of possible data breaches. With fewer access points, integrated systems reduce the opportunities for external hackers to gain unauthorized access to sensitive data.
Employee self-service enables every employee to quickly access information about their available time-off balances, payroll data, tax deductions, and benefits selections. It allows employees to answer basic questions themselves, which can increase satisfaction and decrease the amount of time HR professionals spend clarifying simple concerns or information. The system also makes it easier for managers to access employee information when required, saving time and enabling them to make more informed business decisions.
Don’t allow separate systems to drag your business productivity down. Adopt an online time tracking system with full integration with a payroll software solution to better handle HR processes while enhancing efficiencies throughout the entire organization.