A time and attendance system is a special system that offices often use to track and monitor their employees’ working hours. With this system, the employer gets full control over their employees’ enter and exit times, so that they can control costs by minimizing over-payments. This system also ensures compliance with working regulations where evidence of attendance is required. There are various advantages of dedicated time and attendance tracking system. Lets check the benefits of tracking time accurately.
Less time spent on calculating salaries
One major benefit of time and attendance system for any business is that it reduces the time spent by employees as well as the HR department in tracking, recording and processing their time spent working each day or week or month. Businesses can reduce time in calculating salaries each month by up to 70%. Employees can concentrate on their jobs, instead of doing the additional task of accounting for themselves.
Protection against time theft
Time theft involves a lot of things from taking an extended lunch break or clocking in for a friend when they’re late to work or absent from job, also known as “buddy punching.” Over 75% of businesses lose money because of buddy punching. Whether intentional or harmless, time theft can be costly, and automated time and attendance systems can prevent it overall.
Prevention of human error
Not all employees can remember exactly when they started and finished their work, or keep bookkeeping records of their breaks, lunches and other lapses, or equally, when they began working overtime. It can be a very ineffective process that is prone to innocent human errors. Reporting work hours multiple times a week only leads to a not-so-accurate timesheet. An automated time and attendance system can reduce human errors and offer accurate and reliable data.
Updation of the employees
Most employees want to know how many leaves they have taken, how many they can avail in a year, and do they have any sick leaves remaining. A high quality and efficient time and attendance tracking system can allow employees to check their information on their own at any time. They can also check their time records to check how efficiently they are using their time at work, and is there something they are lagging behind in. The insight information about how much time they have given to a particular project or on certain sites can be precious, and it gives them another chance to reduce or remove inefficiencies.
Less time spent on paperwork
The managing, sorting and handling of paperwork is a time-consuming task. The cost of reloading the items to maintain attendance records, printer ink, toner paper and pens/pencils, etc. can be excessive in the long run. With an automated system, you can save valuable resources as well as your company’s precious time.