A payroll company can perform many different tasks for any business, but it can also simply focus on one task – it will do whatever you ask it to do if the compensation is right. Below, you’ll find the top 5 reasons you should outsource your time and attendance work to a payroll service provider:
1. Easily calculate hours worked to analyze productivity: A productive worker yields more firm benefits than an unproductive worker and should thus be paid more and earn more respect within the company but how do you figure out which employees are more productive? With a payroll service provider taking care of you time and attendance analysis you will receive a breakdown of the hours worked for each employee and department and will be able to deduce how productive each was by comparing hours worked to the output of that person or department. This is a valuable tool when you are trying to grow your company inexpensively.
2. Track employee attendance and punctuality: Sometimes employees take advantage of the size of a company by figuring out the latest possible time that they can get to the office without getting in trouble. With a payroll service provider you will be able to track arrival and leave times through a whole host of means, including biometric devices, timesheets, timecards, etc.
3. Track vacation days: Vacation days enable employees to relax and re-charge their batteries, per se; a happy employee is a productive employee. However, companies do not want to give out too many vacation days – this could compromise growth. A payroll service provider will help you track vacation days and ensure that the correct number are handed out.
4. Keep tabs on overtime hours worked: Many companies have policies regarding overtime that necessitate a higher hourly wage, which can get very expensive. A payroll service provider will help you track the number of overtime hours worked and make sure that your bottom line is not being sacrificed for overtime hours when they are not necessary.
5. Schedule employees based on skills and experience: One of the most impressive abilities payroll service providers have is the ability to schedule your employees based on skills and experience so that you always have a good combination of employees on staff. This will help you grow your business more quickly and at a lesser cost.