A time card of some type is a necessity for every business, as you must be able to record when your employees punch in and out. The hours they work must also be accurately recorded so it can be sent to the payroll department. In the past, many businesses used analog time cards, but today a growing number of businesses are switching to online time cards.
Traditional Punch Round Time Cards
Time cards are the primary tools that companies around the world in every industry use to determine how many hours their employees work. Some are as simple as a piece of paper with information that is written on it, while others come in the form of advanced systems which are web based and accessible from smartphones. The one thing that all these cards have in common is that they are designed to figure out how many hours an employee works, but they can vary greatly in their accuracy.
Punch rounding is the traditional method that has been used to record the number of hours employees work in the past. The term basically means that the employer will “round up” the employee’s hours to the 15 minute mark which is closest. This is usually done because traditional time cards are not precise and rounding up makes things easier. Unfortunately, this classical method of time tracking is extremely costly to employers.
The reason for this is because whenever an employee punches in late, and you round the time down, this is time the company has lost in revenue. Multiplied by hundreds or thousands of employees, this can lead to a significant revenue drop over time. There are also employees that game the system, who knowingly take advantage of the lack of precision inherent in classical time cards and who use other techniques such as buddy punching. While traditional time cards do give you a broad way of tracking the number of hours your employees work, they are not accurate, and this lack of accuracy is costing you serious money over the long term.
These clocks are considered by many to be the wave of the future. They are digital, which means that they are substantially more accurate than the traditional analog time clocks that have been used in the past. This means you will have a better picture of the actual hours your employees work and your company will save more money, which is the equivalent of higher earnings. Online clocks are more secure, and it is much more difficult to use “buddy punching” and other forms of abuse. Simply put, online time cards give you greater control. There are a number of them available online, and it is best start a trial for free to try it out and see how you like it before paying for the full package.