Know More about Time Tracking Software

Know More about Time Tracking Software

Know More about Time Tracking Software - The globe economy has taken hit after hit since the latter half of the last decade. Competition has incline tougher and tougher, and crowded businesses have had to close their doors due to rising operating costs.

 Week the whereabouts in America may not express due to bad due to in some countries, U. S. businesses have precisely felt the sting of the sluggish economy.

 This site has businesses, especially small and rod - sized ones, scampering to gem ways to stay competitive and profitable at the corresponding time. In the majority of cases, the apart supplication available to them has been to undertaking and shorten their operating expenses and improve their productivity.

 Lambaste this backdrop, news of an increase in minimum wage has come for a gargantuan blow for U. S. businesses. The measure adopted by 10 of the states in America is bound to add to the troubles of bounteous businesses that are today struggling to stay most the drool.

 On January 1, 2013, an new minimum wage regulation went into aftermath for 10 states. Depending on the state, the rise in recompense ranges from $. 10 to $. 35 cents per hour per employee.

 According to Yahoo news, the 10 states that raised the hourly wage number Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Rhode Island, Vermont and Washington ( spot http: / / news. yahoo. com / ten - states - stand - minimum - wage - rates - 10 - 35 - 221300619. html ). Abounding small and rampart - sized businesses in these states away outside the dare of higher useable costs and itch to find new ways to stay afloat.

 How Will Businesses be Affected?

 If your business is located in any of these 10 states, you are likely to bear additional payroll costs starting from $190 annually per employee. Employers in Rhode Island will be hit the most with an additional annual payroll cost of $510 per employee every year according to the nonprofit advocacy group called the National Employment Law Project.

 So, how much of an impact are we talking about in all? Let ' s assume that your small business has 25 hourly workers on its payroll. With this roster, the annual additional payroll costs would range somewhere between $4, 750 and $12, 750 depending on your particular state and the raise applicable to you. With that much revenue at stake, concerned business owners have been forced to assess and reorganize their operations to save costs, especially the way their time and attendance is managed. Time tracking software is just the kind of workforce management solution that can help a small or medium sized business in this situation.

 Automated Time and Attendance Tracking

 Workforce management systems that recognize employees through biometric fingerprint punches and / or facial recognition can automate your time and attendance processes. In addition to streamlining payroll management, these systems eliminate time theft and buddy punching by enforcing accountability for your employees. Read also, About VoIP and and its Relationship to Business

 Time tracking software systems authenticate employee identity using physiological features, such as fingerprints, that are unique to every human. This ensures that the time and attendance data recorded by the system is reliable and accurate, and that you only pay for time actually worked. Know More about Time Tracking Software