The Surprising Opportunities of Improving Time and Attendance Tracking
For something as simple as time and attendance, there are quite a few advantages your business can expect to receive from improved management of the task. Look, your time and attendance system isn’t going to make or break your company. But, it definitely can contribute to it’s overall efficiency, your employee satisfaction, and your ability to gain insights into your employees’ business contributions.
A strong time and attendance program can help you achieve the following benefits:
- Reduce labor costs associated with manual or inefficient time tracking methods
- Minimize timesheet errors related to payroll over-payments
- Control for timesheet fraud
- Monitor and database facility and job-site access
- Analyze and track employee contributions to project work or cost center performance
Let’s take a closer look at some of the benefits from strong time and attendance software.
Reduce Labor Costs Associated with Time and Attendance Tracking
Manual methods for time tracking create a massive inefficiency in your business. A time and attendance system is a better bet to cut overhead costs.
Enabling your employees to punch in/out themselves in a time and attendance system will create a central repository of all employee hours. Since the time information is in a digital format it can be quickly transferred to payroll tools in one batch. No longer will your staff need to spend time calculating hours worked from hard copies of timesheets. Hours can then be uploaded in a matter of seconds into your payroll software as opposed to the alternative of spending hours manually entering this information. If you outsource your payroll, a time and attendance system will allow you to send a batch file with all employee hours to your payroll processor. You can also quickly print hard copies of time reports from these systems. Regardless of how you are processing your payroll, the main benefit of time and attendance software is reducing overhead costs associated with workforce management.
Reduce Timesheet Errors
Your staff is vital to the profitable operation of your business. In the case of hourly staff, you have an agreement to pay them for the hours they work. However, manual time tracking methods lend themselves to human error which results in inaccurate timesheets. Whether these errors are made intentionally or unintentionally, falsification and inaccuracies on timesheets can cost your company large sums of money. A time and attendance will ensure that your profits aren’t being eaten away by paying staff for hours they did not work.
Will having a digital time clock that requires employees to punch in/out using a code eliminate all issues? It will help, however proxy attendance can present another costly issue for your company. Of course, any employee who is allowing another to punch them in/out is stealing from your company. They are being paid for work they have not performed. You can eliminate the issue of proxy attendance by implementing biometric or card-swipe time clocks. These clocks will either require employees to have an ID card to punch in/out or it will read a biometric feature of their body. Most commonly biometric clocks will read fingerprints. There are however biometric time clocks that will also read palm prints, retinas, and veins in your hands. Whatever method is chosen, there are several options for ensuring that you only paying employees for work they performed.
Using Time and Attendance Systems to Track Employee Activity
A time and attendance system you will give you the information needed to stay on top of employee activity. You will be able to monitor labor costs, productivity, scheduling and overtime allowing you to identify upcoming issues before they occur. If you have employees located on a job site, a time and attendance system will allow you to monitor their hours. This information will then allow you to determine their productivity and ensure that you are making a profit on the job. If you manufacture widgets, a time tracking system will allow you to track what each staff member is doing. Activity information will in-turn allow you to make adjustments to tasks assigned to individual staff members and ensure that you’re productivity is maximized.
Control Facility Access with Digital Time Clocks
Your company may have facilities that require you control access. If you have restricted access facilities, time and attendance software can provide the solution you need. One common use for a time and attendance system is as a security device. You can connect time clocks to electronic security systems allowing you to control employee movement. This will require each employee to hold the required credentials before giving them access a particular area of your facilities. Once they access this restricted location, you will be able to track exactly where they were and for how long. This will allow you to ensure that your most valuable R&D projects and sensitive information is protected from outside eyes.
Options for Deployment of Time and Attendance Software
Once you decide to implement a time and attendance system you have a number of deployment options. The goal with any time and attendance package is to streamline labor management. To that end, the software must be able to communicate time data to your payroll processing tool. Standalone time and attendance systems are designed to communicate with payroll packages. This integration is critical so you can export time data in one batch without manually re-entering information. If you use a third-party payroll processor you are also able to export data in commonly used file formats or print reports from a standalone time and attendance system. There are also a number of payroll packages that have time and attendance tracking built-in as an integrated component. Finally, if you’re considering implementing a full ERP package, a large number of those systems include time and attendance functionality. Whatever you need, be it standalone time and attendance software or a time and attendance module within a payroll or ERP package, there are a number of solutions available to you.
Taking the next steps
Finding the right time and attendance system for your business can be time intensive. But it doesn’t have to be. Our free software search service will help save you time finding the right program for your organization. Get started today!