Four reasons why you’ll love our newest Time & Attendance Tracking feature
Peter Drucker once wrote that time is the scarcest resource and unless it is controlled, nothing else can be managed. When you think about it, it’s terrifyingly true – which is probably why there are so many tools on the market created to help you utilize time, whether yours or the ones you are supposed to oversee. Our software is one of them.
So far you may have used WorkPuls to monitor what your employees are doing on their computers during work hours, to manage a remote workforce, or to measure and analyze your people’s overall productivity and time utilization. Today, we’re introducing our newest feature – Time & Attendance Monitoring. This option is supposed to give you an actual insight into your employees’ working hours – their clock in and clock out time, as well as all the breaks they make during the day. This is how it works:
- The first action on a single computer taken after 3 AM is recognized as clock in time.
- The last action on a single computer taken before 3 AM is granted as clock out time.
- Everything in between is the time your employee spent at work.
Why is this better than a traditional card-checking method? There are four main reasons and well, they’re all relevant. Here’s the list of benefits you will yield with an automated time and attendance tracking solution:
1. It will prevent time theft and buddy punching.
Time theft includes everything from starting your work a while after you’ve checked your clock in time, to taking a longer lunch than allotted. Whether intentional or unintended, time theft can be costly and an automated time and attendance system prevents it altogether – because it doesn’t track where someone is, but what they are doing.
Another real problem with a card system is a thing known as “buddy punching,” or clocking someone in when they aren’t actually there (mostly when being late for work). While this kind of control sounds like a “bad cop” thing, it actually prevents huge costs – up to 7% of a company’s gross payroll annually gets lost due to time theft. And it’s not just about money – people who work hard typically resent co-workers who cut out early, come in late and ask their friends to cover for them. With an automated time and attendance system, everyone’s activity is transparent, thanks to down to the minute tracking and real time visibility.
2. It will save time and resources when counting payroll.
Another benefit to your business is that less time will be spent tracking, recording and processing employees’ time spent working each day, week and month. Merely sorting through, organizing and processing paperwork can be time-consuming. An automated time and attendance tracking solution ensures an easy, impartial and orderly approach in addressing specific needs without any confusion. Some businesses even reported cutting their time for calculating payroll each month by up to 70%.
3. It will also prevent errors, helping you stay in accordance to labor law.
Manually collecting, managing, calculating and processing time data to process payroll isn’t only time-consuming – sometimes it can cause serious errors. One misplaced digit or decimal can lead to accounting errors that take an eternity to be corrected, or worse, are left uncorrected that can affect your bottom line negatively, or lead to law violations. In either case, it’s tiresome, ineffective, and potentially hazardous.
4. It will create a database that can be accessed throughout the company.
If your company is spread out across multiple offices or sites, it’s much easier to calculate payroll via a system that is standardized for all employees. This creates a central database, with guaranteed practices that can be accessed from anywhere, including on the go.
The benefits of a time and attendance system are numerous. Managing your workforce and processing payroll quickly but accurately begins with reliable data. Automated cloud-based systems pay for themselves within a few months and provide considerable savings on an ongoing basis by eliminating errors, compliance violations, time theft and other time-related issues that lead to revenue leakage. Eventually, this leads to a strong return on employee investment and a positive effect on overall business results.