As a business owner, How much can you expect to spend per employee for an online time clock software system?
A time clock is extremely important when it comes to keeping track of your employees’ hours. There are many different options for time clocks available, including the standard punch clock. However, punch clocks can be quite costly to install and additionally will cause more work for your manager in charge of payroll. When employees forget to punch in and out, it creates more work for payroll, thus you have to spend valuable “man hours” to deal with these issues. A sound time and attendance software solution offers a way to save time and money on your time keeping and payroll processing.
Lower Your Overall Cost Per Employee
One of the main concerns for business owners is how much money it will cost per employee to have this type of online time clock system. The good news is that the cost for this type of system is actually very low. There will be virtually no startup costs because all that you need is a computer that has web access in order to use the system.
The administrator of the program will be able to set up each of the managers and the employees, see who is on the clock and off the clock, edit each time card, print out reports, and manage the account billing. Each manager can be given the right to manage each aspect of their list of employees. This includes editing and printing a time card. You can use the management application as applicable to your particular business. Employees will be able to clock in and out from their assigned computer using a username and password.
The cost of online time clock software will vary based on the number of employees that you have in your business. Typically, the cost per employee will be lower if you have more employees. The average cost per employee is roughly $1 up to around $2, depending on the program that you choose. If you have less than 10 employees you can expect to pay around $1.25 or more for each employee and if you have over 100 employees the cost will be closer to a dollar.
Overall, the cost for an online time clock software system per employee is relatively low when compared to the benefits of using this type of system. The money will be saved in labor costs as well as administrative costs as payroll will be made much simpler when you use this type of system. Additionally, relative to the old-school punch clock, these online software solutions offer much more flexibility and can have an array of additional features you may find valuable for your business.
Remember to stay strictly within your states guidelines for time clock management and implementation. While there are different types of law and employment regulations for each state, U.S. law in general allows employers to choose their own method for keeping track of employee hours as long as it is accurate.