Payroll fraud can cost businesses millions of dollars a year. But what are your options if you’re looking for something better than your old punch clock? What kinds of biometric systems are out there, and which are the best for you? Here are just five tips for buying a 21st century time clock.
1. Choose Your Technology
Biometric time clocks come in several different varieties. The most common is fingerprinting, which allows employees to identify themselves with the swipe of a finger rather than the input of cards or codes, but you can also buy time clocks with retinal scanning and voice recognition capabilities.
2. Understand How They Operate
Most biometric time clocks come with a computerized system that will log things like schedules, break times and total number of hours worked. Some will also send you alerts if employees are late or absent. Do some research about biometric time clocks to figure out which services you need and which services they can provide.
3. Prioritize Your Features
Do you need a time clock that comes with password protection or high-level data encryption? Is it important to you that it calculates numbers in addition to recording them? Do you require a brightly-lit LED screen for visually impaired employees? Every workplace has its own priorities, so make sure you know yours before shopping for a time clock.
4. Give Yourself a Price Range
Instead of establishing a hard dollar limit, put a value on the various features you’d like in a time clock. For example, rather than saying “I can’t spend more than $500 on a complete biometric system,” tell yourself “I can’t spend more than $300 if it doesn’t come with a 10,000 punch transaction memory.” This will give you some flexibility even when you’re on a budget.
5. Keep the Future In Mind
Even the best time clocks have a maximum capacity for data. If you anticipate serious growth or international business expansion in your future, you’ll want to invest in a time clock that can handle the increased workload. Don’t waste your money on employee time clocks that max out at 100 people if you think your business will hire 100 more in a year’s time.
These are just five things to bear in mind when shopping for biometric time clocks. If you’re serious about stopping payroll fraud and keeping better track of your employees, it’s time to say goodbye to punch cards and hello to technology.