The difference of a few minutes can make a huge difference to your company. According to the Society for Human Resource Management, thousands of employers unnecessarily expose themselves to risk in the form of fines and even lawsuits because of improper recording or rounding of time.

timeclock - The Summer of Wichita Outsourcing: Payroll Risk Management Is a Matter of Time - Syndeo

Keeping accurate time records can save you trouble.

There are actually recorded cases in which judges have found in favor of employee plaintiffs who worked for companies that rounded time entries exclusively to the companies’ advantage.

Federal rounding guidelines state that rounding must, over time, result in compensating employees fully for the time they worked. Most states, according to SHRM, follow these guidelines, and staying within them is important to minimizing your exposure to lawsuits or penalties.

For many companies, trying to keep accurate time records and remain compliant is not only a matter of risk–it’s a real hassle. Maintaining good records, managing the data and auditing records is easily delegated to an outsourcing firm like Syndeo. And not only that, it allows business owners and executives to do the things they do best: managing and growing the business.

There are other factors involved, too. Not only are audits important, but so are policies and procedures. Properly educating employees about the company’s prerogative to alter timecards for early and late punches is key. Working with your Wichita outsourcing firm, Syndeo, you can develop these policies and protect  your company from harm.