Here’s the most obvious thing you’ll hear all day: If you run a retail business that employs any kind of staff, you need to keep track of your employee hours.
A basic, Business 101 concept, right?
You’d think. But as fundamental as time tracking may be when running an efficient retail operation, it’s this exact business function that often gets overlooked as retailers focus their attention on other big-picture issues such as revenue building, inventory upkeep, and shipping logistics.
And the results of these types of scale-backs are slightly troubling.
Without a well-organized, well-oiled time-tracking system in place, retailers risk taking a major hit to their bottom line in the form of wasted billable hours. Indeed, Forbes warns that an average employee can “steal” approximately
4.5 hours worth of work a week
.
If that doesn’t convince you to invest in a timeclock software, the American Payroll Association study cites the common practice of “buddy punching” (in which a friend clocks in a co-worker who isn’t actually there) as having contributed to losses suffered by a staggering
7
5% of businesses
.
That’s not to say we think you should be suspicious of your employees. Any number of acceptable, understandable, or even accidental activities can lead to time theft without anyone even realizing. Your assistant floor manager may have forgotten to clock out before his break. Your best saleswoman may have punched in a friend who got caught in unexpected traffic.
The possibilities are endless, and the goal should never be to blame or shame the people who work for you. Instead, you should aim to establish a time-tracking program that quietly, compassionately, and effectively monitors your day-to-day operations. In the end, a timeclock software helps you get what you pay for and your employees get what they’re owed.
We believe a POS system with a built-in timeclock software can help.
Need proof? Here’s our breakdown of the key benefits to implementing a POS system with timeclock software.
Get reading and start the clock in three, two…
Timeclock software makes everyone more accountable.
In business, as in life, timing is everything — for you and your employees.As a business owner, you have to keep on top of the hours clocked by every member of your staff if you want to avoid unnecessary overages. Easily done if you have just five people working at your single storefront…but what if you have several retail locations that employ hundreds of workers? A POS with timeclock software can allow you to track the comings and goings of each of your employees with little to no effort on your part. The result is streamlined timesheet assessments and well-planned, punctual payroll. Plus, a timeclock software feature can enable you to trace the work history of a specific staff member, alerting you to potential attendance problems before they get out of hand and holding your employees appropriately accountable for the hours they claim to accumulate.
But accountability works both ways. A time-tracking system can also protect your staff from paycheck inaccuracies by ensuring each billable hour is securely documented. In addition, POS timeclock software can create a digital “paper trail” of monies owed to every employee, compelling you to be completely answerable to your workers when payday rolls around (not that you wouldn’t be!). Just think of it as a benevolent business overseer that makes sure no one gets cheated on either side. We’re guessing both you and your employees will appreciate it.
Timeclock software bolsters security and encourages transparency.
As mentioned earlier, time theft issues such as buddy punching or neglecting to clock out can set your company wallet back a few dollars (or more) in the long run. And, while we don’t recommend the tyrannical approach of playing watchdog and scrutinizing your employees’ every move, we do suggest a timeclock software that offers enhanced security. Be aware, however: Not all timeclock software are created equal, especially those built into a POS system. While you’re likely investing in a POS with a timeclock software to save yourself time and keep your business organized, know that there are important security features that should be included.
Say that you suspect someone on your floor is signing in an absent colleague. A timeclock software should give you the tools to check if two separate employees have been clocked into work on a single punch-in station, mobile tablet or smartphone-turned-cash-register.
Your POS timeclock software should let you assign specific usernames and passwords to each of your employees, thereby increasing in-house security and preventing confusion as workers change shifts and/or alter their schedules. To further increase your security, Erply’s timeclock software enables you to trace any and all staff member login activities and search employee timestamps by IP address and device
Suspicions confirmed? You can rectify the situation quickly and minimize any damage. Suspicions entirely unfounded? Your employees can rest easy knowing the system doesn’t lie.
Timeclock software gives you more mobility.
A comprehensive POS system can give you the support you need to facilitate mobile logins for all of your many employees, be they three floors down or three states over. Since this type of software integrates easily with a variety of smartphones and tablets (we’ve touched on this already, but it bears repeating), your workers can clock in or out from any on-site location without having to travel at all. For your employees, this means no more running to the sign-in sheet at the back entrance when breaks begin and no more scrambling across floor displays to reach the stationary punch-in terminal if someone forgets to clock in after lunch. For you, this means easy access to login information no matter where you are.
With a built-in POS timeclock software, you can view timesheets from personal devices or track time right from the point of sale. Plus, if you need to move your operation from place to place, you POS gives you the freedom to operate your business as you see fit (businesses on wheels and pop-up stores rejoice!).
Clocking Out
As business progresses, you can watch your company grow with confidence knowing that your time-tracking management system is light, portable, and that your staff members always have convenient login assistance at their fingertips. We hope these points have given you some valuable insight into the advantages of a POS with an in-built timeclock software. Remember, though: You only reap these benefits if you invest in a timeclock software that gives you detailed time management coverage — from precise clocking capabilities to advanced timesheet reporting to tracking infrastructures on-the-go. And since Erply gives you all that and more, we recommend checking out our services before making any big decisions about onboarding a business-wide time-tracking policy.
As, always, we wish you the best of luck.