When was the last time your construction firm looked into time and attendance systems? If it was more than one or two years ago, chances are, you’re due for an update. Time tracking technology has come a long way in a very short time.
Forget What You Knew about Time Tracking
Maybe last time, you concluded that automated time and attendance systems don’t fit your workforce or make good business sense for you.
That may be true of conventional time clock based systems. But they don’t all work the same way. There are systems designed just for mobile work crews like yours.
Why should you care? Because this isn't just about counting noses. Time tracking systems are proven to help businesses achieve three key goals:
• To operate more profitably – by trimming fat, time fraud, and errors out of labor costs.
• To stay out of legal trouble – by improving wage and hour compliance.
• To manage more effectively – by minimizing paperwork and maximizing control over projects and productivity.
The Least You Should Know about Time Tracking
If you’re committed to growing your business, take a minute to absorb these five time tracking facts:
1. Mobile Time Tracking Works Anywhere –
You’re not limited to stationary time clocks. If your foremen have smartphones, they already have mini time clocks at hand. Look for a web-based system that offers a smartphone app, and you don’t need any other equipment, other than your laptop.
The best apps utilize smartphones’ GPS capabilities, so when employees punch in, you see where they are. So you can ensure that everyone’s onsite. When your crews move to the next project, your time tracking system does, too.
2. Time Tracking Makes Payroll Easier –
Many of the contractors we've talked to loathe making payroll. It equals many frantic hours shuffling timesheets and spreadsheets.
A good time tracking system ends those headaches. It will integrate seamlessly with your payroll system, so data flows automatically from point A to B.
It will also integrate with your other systems, including your project management software and whatever certified payroll service you use to meet Davis-Bacon prevailing wage requirements. (Tip: ask prospective time and attendance providers how they accomplish complete system integration. Look for providers that are familiar with the systems and software you use.)
3. Time Tracking Systems Do Save Money –
You've heard this claim before, but do you know why it’s true?
According to the American Payroll Association—and who knows better?—manual errors alone cost employers 1-8% of gross payroll. Add a little time fraud on top (it’s easy to fake timesheets). You may not care if a good worker arrives a little late as long as the work gets done. But if you saw the actual, factual totals, you’d be appalled by how many work hours you’re losing each week to fudging and rounding.
Fact: when you switch from paper timesheets to a web-based time tracking system, your labor costs will shrink by 5%, often more. What’s that mean to you? Take your monthly payroll, subtract 5%, then multiply by 12. That’s the least you’d save in one year.
4. Time Tracking Is a Shrewd Bidding Tool –
An advanced system lets you allocate labor costs against project phases, cost centers…whatever you measure by. This gives you credible figures to work with when bidding on future projects, so you can bid more accurately.
And since you’re simultaneously cutting labor costs, you’ll be able to sharpen your pencil. In competitive industries, every edge counts.
5. How to Gauge the Best Value –
Once you find systems that can do what you need, it’s time to compare costs. But since time tracking providers structure their fees differently, it’s hard to judge apples to apples. Start by comparing these two areas:
• Upfront Fees – Ask the provider for a complete list of start-up fees. The list shouldn't be long, and the total shouldn't stop your heart. If you feel like you’re being nickeled and dimed, you probably are.
• Monthly Fees – Chances are, your headcounts fluctuate, either seasonally or by project. So it’s not in your interest to pay fixed monthly fees. Look for providers who charge on a ‘per head per month’ basis, also called pay-as-you-go. This way, you only pay for the services you actually use, and expenses are scaled to revenues.
Get the Right Tool for the Job
How do we know so much about contractors’ time tracking needs? Because we’re EPAY, and our system was designed from the get-go for the mobile, decentralized workforce. Unlike the big providers, we didn't retrofit a conventional time tracking system; we built ours from scratch.
We can confidently say that our flexible time tracking system is better suited to your construction workforce than anything out there. We offer advanced mobile time tracking and streamlined payroll integration (we do all the heavy lifting). Our budgeting and reporting tools lets you track and allocate labor costs, which helps you bid smarter .
We actively want your business, so we make our system highly affordable . Best of all, it’s so cost-effective , it pays for itself in just four months.
How much can we save you? Request a free, no-strings 30-minute evaluation and get the facts.