The workforce is the largest expense in any organization impacting both production and profitability. Inaccurate time tracking can be one of the greatest pitfalls for any business. Maintaining accurate time and attendance makes a world of difference in the way they operate, greatly improving business productivity and profits.
Traditional time tracking processes could create many issues, sometimes employees may forget to enter log-in/log-out times and sometimes the writing is illegible. Digital time tracking systems are known for their accuracy and reliability, they collect and log data in real-time. The system tracks all the time-related needs like employee schedules, paid-time-off-calculations and mere log-in and log-out. With accurate and reliable time tracking businesses can achieve great insights into true labor costs.
With manual time keeping, it is very hard to calculate the net pay for each employee. An automated system makes the payroll calculations simple, helps in calculating regular shift timings and overtime of employees. It also helps pay for the exact amount of time they have worked and not scheduled work hours.
The data collected by an attendance management system provides enough information that is required for regulatory compliance. You can generate quick reports and view any information about any employee – the number of hours worked, the number of time off taken, and the net payment. Real-time audits enable you to track any changes that are made to the original data.
The seamless integration of this system with other existing HR applications ensures that you have the complete package to manage your workforce. It greatly improves the operational efficiency of the business.
The improvement in data accuracy ensures that there are fewer errors ensuring cost savings in the long term. The system offers easy and secure data sharing between two different applications; this safeguards data consistency across the business.
Latest software solutions also allow late and early clock in/out times and automatically notifies the reporting managers/HR managers. They are easy to use, offers a clean interface, and the advanced self-service feature allows employees to update clock-in/out, submit time off requests, view available time off balances, and more.
Your employees work hard to achieve their goals and help increase business productivity. Keeping track of their time and attendance manually can be a time-consuming, laborious, and expensive affair. An efficient time and attendance management system helps in lowering frustration levels of employees by reducing error-prone duplicate entry and tracking performances accurately.