Just like other aspects of running a business, your staff is one of the most important resources you can have. It’s essential to manage your employees efficiently to make the most out of your investments.
You can do this by making sure they’re doing the right job at the right time to maximize your company’s overall productivity. This is where a time and attendance system comes to the rescue.
So, if you consider using this innovative technology, keep reading this article to learn more about the benefits of a time and attendance system.
What is a time and attendance system?
In simple terms, a time and attendance system refers to a cloud-based or time-clock solution that involves the process of gathering employee information, such as work time, break and meal times, off days, and tasks and productivity in their respective departments.
To better understand how this system works, below are the different types of time and attendance systems you can choose from:
- Automated time attendance software – It’s a fully automated solution that lets employees track their own work hours from any electronic device. It works by collecting all the data that are being used to generate accurate timesheets, thereby making time management much easier and faster.
- Manual time clock – It’s the manual type of time and attendance system that most businesses use. It works by punching in the time card to the machine so the time stamp with date and hour will be printed.
How can a time and attendance system work for your business?
Now that you’re aware of what time and attendance system is, it’s time to get familiar with how this technology can work best for your business. Here are a few benefits of using a time and attendance system:
1. Helps simplify payroll
Typically, tracking the employee time for payroll purposes can be one of the most challenging tasks for employers like you. But, with the advent of an innovative time and attendance system, this undertaking can be made simpler. The software helps your company to accurately take a look on the time spent by your employees daily, weekly, and monthly.
Consequently, it reduces the burden of preparing a lengthy payroll for all your employees and makes sure you avoid some common mistakes companies make when doing it.
2. Prevents lawsuits
Realistically speaking, there are federal and state laws that can regulate things such as overtime pay and record keeping. However, tracking these things can become problematic if it’s done manually. It may even lead to a potential lawsuit, especially if the employees’ working hours and overtime pays aren’t accurately calculated.
But, by using a time and attendance system, you can prevent opening yourself up to future lawsuits by staying on the right side of the law. This means that with everything that’s automated, you can minimize calculation errors and ensure your employees receive what they should receive.
3. Helps track projects and tasks efficiently
In addition to time tracking, you can also use a time and attendance system to track projects and tasks effectively. Depending on the software you choose, some of these technological innovations may allow you to identify potential setbacks that need to be resolved immediately.
For example, if you’re aware that, usually, a particular project requires two to three hours to complete, but a certain worker has taken five or more hours to do it, then, it can be an indicator that there’s a problem. In such a case, you can call the attention of the employee and see if they need more training to make the task much easier and faster.
When you utilize the records from the system, you’ll be alerted about the possible problems your workers may be experiencing with some projects.
4. Stops buddy punching and other time theft
Sometimes, your employees may do some bad things just to take advantage of their salaries and wages. For example, they may clock in for a co-worker when they’re late for work or take a longer lunch break than allotted. This scenario is usually known as buddy punching and time theft.
Thus, if you want to avoid this situation from happening, using a time and attendance system can be an excellent idea. Whether intentional or not, buddy punching and time theft can cost your company a lot of money, so you should use an automated time tracking system to prevent them altogether.
5. Creates a central database that’s accessible
If your company has multiple offices or sites, having a time and attendance system allows you to create a centralized database that can be accessed from anywhere, at any time. For instance, if you need to review a certain data from your previous payroll records, you can just access the system, retrieve the information, and take a look at it.
Ideally, keeping track of all your employees’ work hours and performance doesn’t need to be complicated if you use a time and attendance system. With this modern technology by your side, you can supervise your workforce effectively and productively, and ensure their pays are accurately and automatically calculated.