Dec 9 2022
When shopping for an employee time clock, you have the choice of either a traditional time clock, a time clock system with no monthly fee, or a subscription based web time clock. So it depends on what time clock type you want to use. Time tracking comes in different varieties.
Generally, prices for time clocks and time clock software are all over the map. It largely depends on what features you need, how many employees you have, and what your are willing to pay. However, the following should give you an idea.
How much do time clocks cost?
For an electronic time clock that prints on a time card, expect to pay between $100 and $300. For stand-alone fingerprint time clock system, expect to pay between $100 and $500. And for a cloud based time clock system, expect to pay between $3 and $10 per person per month.
The true value
The general rule is you get what you pay for. For a traditional time clock and stand-alone time clock system, the higher the price, the more likely you'll get more features. Same thing with a cloud based attendance system too.
The true value is what you get in return, so pay as much as you can afford. Sure, you can buy the cheapest, or find a free service, but weigh the costs of not spending more. Keep in mind the American Payroll Association suggests using an attendance solution that will keep you compliant.
To help, here are 4 benefits to consider before investing in a time clock.
1. Time savings
Most traditional time clocks do not total employee hours. You have to calculate manually. And even with calculating time clocks that do total the hours, you have to manually enter them for payroll. To save time, and reduce errors, consider using time clock software that does this for you.
2. Ease of use
Stand-alone time clock systems may be easy for employees. For example, swipe a badge, place a finger on a sensor, or face a facial recognition camera. But similar to traditional time clocks, you still have the manual work of transferring time clock data to your payroll system. Find a system that allows you to export or integrate with your payroll.
3. Buddy punch prevention
When employees clock in for each other, it's called time theft. According to Smallbizgenius, 75% of US-based businesses have problems with time theft. And according to Workforce.com, 20% of every dollar earned by a company in the US is lost to employee time theft. Consider using a system that is more secure and offers a biometric time clock.
4. Using mobile phones
As of this writing, there are zero, no monthly fee time clock solutions that offer access by mobile phone. Each employee must clock in using a time card, or collection terminal. Further, you as the administrator can't access payroll data from the web. So, if you need access using phones, or gps tracking, your only option is an online time clock app.
The cost of purchasing an employee time clock with no monthly fee can be attractive. But consider the cost advantages you have of using an online time clock system such as Webtimeclock for your payroll. Time savings, ease of use, buddy punch prevention, and mobile phone access are all included. We also offer an optional fingerprint time clock.