It’s easy to get cold feet when implementing a change as big as shifting to a digital time and attendance system. You’ll always find a million reasons to put it off another pay period. Yet, when it comes down to it, the costs of delaying the shift to digital timekeeping are too high to make inaction a tenable option. Lift HCM helps businesses like yours switch from physical records. Let’s review some of the benefits of adopting a digital system at the start of 2024.
Benefit #1. Employees Are More Willing to Adopt New Attendance Systems
The start of the year carries with it a spirit of renewal that sees people commit themselves to self-improvement. Their minds are already open to making a positive change. The concept of “bundling” has long been considered to be a best practice when implementing organizational change. You’re more likely to see increased adoption when employees don’t need to stay on top of individual dates on which changes go into effect. That’s why it can help to bundle the switch to a digital time and attendance system with employee resolutions or other changes at the start of the year.
Benefit #2. It’s Easier to Provide Time and Attendance Data to Third Parties
Switching to a digital time and attendance system at the start of the year makes it easier on accountants and payroll managers who may require that data to validate payroll data or earnings metrics on quarterly and annual reports. Should a trusted third party need access to your data, implementing your new digital timekeeping system at the start of the year consolidates your data into what may ostensibly serve as a single source of truth.
Benefit #3. Gain Peace of Mind During Audits and Inspections
Consolidating your sources of time and attendance data at the start of the year is useful for more than making your payroll manager happy as they prepare for the next pay period or making your accountant’s life easier in advance of annual and quarterly reports. Keeping your attendance records under a single (digital) roof can make it easier to cooperate with audits and inspections.
No business acting in good faith is ever truly “prepared” to get that knock on the door, but it does still happen. Should you ever find yourself in that uncomfortable situation, it’s already going to feel like the walls are closing in. Pulling data from a single source makes it easier to neatly package up the information requested. This can leave you feeling like you’ve got a handle on your data while reducing the risk of critical information slipping through the cracks.
Benefit #4. Comply With Regulatory Changes Taking Effect January 1st
There are several regulatory changes taking effect at the start of the year which impact the way you collect, store, and apply the data flowing throughout your time and attendance system. Each new change to tax and labor laws carries its own unique set of headaches. Switching to a digital time and attendance system at the start of the year ensures those headaches only apply to a single source of data. In other words, you don’t have to worry about experiencing those headaches all over again with each new source of data.
Get the Most Out of Time and Attendance Tracking in the New Year
Implementing your new time and attendance system at the start of the year means accessing the most efficiently organized view of your data with a minimal amount of noise. Nevertheless, the process of implementing an organizational change of this scale is inherently daunting. Lift HCM has been bringing businesses like yours into the digital age since before the 1995 crime thriller Hackers ever told us it was cool. If you need a hand in making the transition, we’ll help you ensure it’s a smooth one.
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