Electronic Time Clock Payroll System
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 responsibilities 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 this system is to help continue an efficient, productive and cost-effective workforce.
As organizations become more dynamic, optimization of the workplace becomes more challenging. The extensive use of mobile devices method that many changeable work hours happen outside the office and already outside normal work hours. Increasingly more employees are working from home, from far away offices and while on the move. already though this allows a business to be more effective andflexible, it can also make keeping track of employee work time quite problematic. Automated softwares allows an organization to build a clear picture of employee’s time and attendance by comprehensive reports on attendance, absenteeism, flexi-time, overtime, rostering and leave.
Let us go by a quick overview of how this system can enhance the efficiency of your business:
1. Accurate Payroll records
The most basic assistance 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 precisely records employees’ arrival and exit times in addition as overtime which method the employee can be paid consequently.
By upgrading, some businesses cut their time calculating payroll each month by up to 70%. Employees can focus on their respective jobs, instead of 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 by buddy punching. Whether intentional or harmless, time theft can be costly, and an automated this system prevent it altogether.
Biometric system eliminate buddy punching and time theft by requiring each employee be at their stated 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-extent employee base, especially in the industrial and production sector, there is an basic need for effective, smart and efficient shift management. This is basic to keep the cycle of production in continued spin and to meet the business production targets on time.
The use of an this automated 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 ultimately 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 this 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 ultimately fosters a competitive ecosystem 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 this system will allow employees to access that information on their own at any time.
Allowing employees to see their attendance records on need will help them see how well they’re employing their time at work. The insight attained from seeing how much time is spent on particular projects or at certain sites can be highly useful and will help them eliminate inefficiencies. Employees feel empowered when they have access to their own information, and that level of empowerment can rule 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 considerably as the HR team becomes responsible for managing a bigger number of workers.
Automated systems can expand effortlessly and you can introduce new features upon necessity. Let automated payroll software 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.