Smart Business Strategies to Follow for Successful Time Keeping and Compliance

Kevin Kenealy Time Keeping, Time Keeping and Compliance Comments Off on Smart Business Strategies to Follow for Successful Time Keeping and Compliance ,
Smart Business Strategies to Follow for Successful Time Entry and Compliance by The Payroll Company

Because COVID-19 and the digital revolution have allowed more flexibility in the workplace, the number of remote and hybrid work settings has been expanding. This has given company owners a tremendous chance to recruit skilled workers from all over the world, overcoming the challenges associated with filling in-office roles and reimagining the traditional workplace. The growth in the number of places where workers may do their jobs and have an “office” also brings a new set of issues surrounding the proper application of labor laws.

When recruiting employees in another state or even another nation, firms must comply with a variety of labor laws, some of which include requirements for overtime pay, time off, lunch breaks, and rounding. For instance, the amount that must be paid for overtime in Canada is 1.5 times the usual pay; however, in Sweden, the amount that must be paid for overtime ranges from 1.5 to 2 times the standard pay. Variations on these themes can be found in leave policies: In contrast, the minimum number of days of leave required each year in the United Kingdom is 28, while the minimum number of days required in Canada is 14. Maintaining a comprehensive understanding of the situation is difficult due to the fluid nature of the concerns.

For instance, in 2021 or sometime in the middle of that year, several states will modify their overtime regulations about leave time and compensation. In addition, laws that control how these days are to be collected and paid for are sometimes governed by the new legislation. [Case in point:]

Several employee categories, including full-time, hourly, part-time, salaried, and independent contractor, are considered when calculating timesheets. As a result, this should be a recognized practice in any human resources solution that is implemented. When it comes to overtime compensation, breaks, and even basic payroll and tax compliance requirements, these various sorts of employees frequently fall under separate sets of guidelines. The automation of pay calculations that are based on overtime and other exceptions helps expedite payroll operations. It lightens the administrative time used by HR to handle timesheets, approvals, and payroll.

Software solutions for keeping track of time give functions that cannot be obtained by manual time collecting.

Within the system, employees can request time off, and both the employer and the employee can view the amount of personal time off that has been accumulated. Using mobile apps or geotagging, several solutions provide tracking for personnel who are stationed at multiple working locations.

These solutions can also function with several time clocks, notwithstanding the locations in which they may be placed. Providing significantly reduced paperwork for workers who are required to travel from location to location or have several job assignments. In addition, the Fair Labor Standards Act (FLSA) requires employers to keep certain records for nonexempt employees. These records must include the number of hours worked each day and the total number of hours worked each week. This requirement increases the importance of accountability within a timekeeping system.

Utilizing a timekeeping solution is one simple approach to ensuring that your firm complies with labor rules regarding timekeeping and remuneration.

Do you wish to become more proficient in time collecting, administration, and reporting and learn more ways to do so?

The timekeeping software offered by The Payroll Company makes managing your organization’s human resources more straightforward and beneficial. Utilizing powerful software solutions for human resource management, The Payroll Company transforms the seemingly impossible challenge of managing personnel into a vital business strategy.

The Payroll Company can assist in various facets of human capital management. You may find out more by going to or call the company to discuss your company’s needs at 505-944-0105.

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