The world is rapidly evolving fueled by new technologies that exist to create efficiencies never thought possible. In workforce management, many companies are considering the adoption of new technologies such as time attendance system to create efficiencies and save money.
Keeping track of employee’s time and attendance is one of the central tasks of any business. Payroll needs to be calculated according to actual hours worked, not on scheduled hours or individual estimates of how long a particular employee spent on the job. The main emphasis of time attendance system is to help maintain an efficient, productive and cost-effective workforce.
As organizations become more dynamic, optimization of the workplace becomes more challenging. The widespread use of mobile devices means that many changeable work hours happen outside the office and even outside normal work hours. Increasingly more employees are working from home, from remote offices and while on the move. Even though this allows a business to be more effective and flexible, it can also make keeping track of employee work time quite problematic. factoHR allows an organization to build a clear picture of employee’s time and attendance through comprehensive reports on attendance, absenteeism, flexi-time, overtime, rostering and leave.
Let us go through a quick overview of how time attendance system can improve the efficiency of your business:
1. Accurate Payroll records
The most basic benefit to your business is that less time will be spent, both by employees and HR, tracking, recording and processing their time spent working each day, week and month. A biometric system accurately records employees’ arrival and exit times as well as overtime which means the employee can be paid accordingly.
By upgrading, some businesses cut their time calculating payroll each month by up to 70%. Employees can focus on their respective jobs, rather than the additional task of accounting for themselves. This automates the system of payroll generation and removes the chances of any error or discrepancy that might occur during the manual calculation of wages, bonuses and overtime compensations.
2. Prevent buddy punching and other time theft
Time theft can include everything from taking a longer lunch than allotted or clocking in for a friend when they’re late to work, otherwise known as “buddy punching.” According to an estimation over 75% of businesses lose money through buddy punching. Whether intentional or harmless, time theft can be costly, and an automated time attendance systems prevent it altogether.
Biometric time attendance systems eliminate buddy punching and time theft by requiring each employee be at their specified worksite to punch in. No one can steal or fake a fingerprint and with specific terminals to clock in and out, there’s no chance of leaving early. Biometric time attendance systems are one of the best ways to eliminate time theft in your organization.
3. Efficient planning and shift management
An organization with a large-scale employee base, especially in the industrial and production sector, there is an essential need for effective, smart and efficient shift management. This is essential to keep the cycle of production in constant spin and to meet the business production targets on time.
The use of an automated time attendance system allows for greater flexibility in the creation and assignment of shifts. With an automated employee scheduling system, staff levels can be allocated to meet the demands and needs of the business. With just a few clicks, an automated time attendance system can help manage schedules, allocate work, and easily keep track of shift management.
4. Increased Productivity
By decreasing and eventually eliminating the practice of manually recording attendance and time records, a biometric system decreases staffing overhead, save employee time and provides payroll with accurate labor data. This leads to effective business operations.
The time attendance system eliminates the risk of erroneous or compromised data entries and keeps a fair and real-time record of time checks, work hours and productivity. This helps ensure a smooth flow of operations and keeps a track of each employee’s performance and efficiency. This eventually fosters a competitive environment within the organization.
5. Keep employees informed and satisfied
A general question for those working in HR is how much time off an employee has left this year, or whether they have any sick days remaining. A quality time attendance system will allow employees to access that information on their own at any time.
Allowing employees to see their attendance records on demand will help them see how well they’re utilizing their time at work. The insight gained from seeing how much time is spent on particular projects or at certain sites can be invaluable and will help them eliminate inefficiencies. Employees feel empowered when they have access to their own information, and that level of empowerment can lead to increased satisfaction.
A paper-based system could potentially work for a small business but it will be a complete nightmare for a larger organization. The risk of mistakes will increase significantly as the HR team becomes responsible for managing a bigger number of workers.
Automated time attendance systems can expand effortlessly and you can introduce new features upon necessity. Let factoHR help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Demo to help you make an informed decision.
To learn more about what factoHR, HR & Payroll can do for your business. Book Free Demo !!! Call us on +91 782 000 3100 | Mail at email@example.com
Schedule Free Demo
To learn more about what factoHR, HR & Payroll can do for your business. Book Free Demo !!!
Call us on +91 782 000 3100 | Mail at firstname.lastname@example.org