Is your company employing an outdated time attendance software? If your HR department is having a difficult time maintaining employee records, tracking attendance or keeping up with productivity levels, it’s time to consider a different method of recording employee data.
Incorrect data can result in the loss of millions in revenue for your company; money which would be better spent on employee bonuses and salary increases.
Here are six reasons why your organization should consider getting new time attendance software:
1. Accuracy
Humans are far more susceptible to making mistakes then we can realize; even if supportive devices are provided. With an automated time and attendance system, you get accurate data tracking and recording each time. This prevents mistakes that arise due to manual data entry errors. Accurate tracking greatly aids payroll computation.
2. Saves Money
Did you ever realize that time tracking software can actually control expenditures? This is accomplished by eliminating inaccurate time reporting practices such as chronic absenteeism, buddy punching, time abuse, tardiness, etc. According to a study conducted by Axsium Group, large companies can save up to $1,600 per employee when they implement a reliable time tracking software program.
Incorrect data can result in the loss of millions in revenue for your company; money which would be better spent on employee bonuses and salary increases.
Here are six reasons why your organization should consider getting new time attendance software:
1. Accuracy
Humans are far more susceptible to making mistakes then we can realize; even if supportive devices are provided. With an automated time and attendance system, you get accurate data tracking and recording each time. This prevents mistakes that arise due to manual data entry errors. Accurate tracking greatly aids payroll computation.
2. Saves Money
Did you ever realize that time tracking software can actually control expenditures? This is accomplished by eliminating inaccurate time reporting practices such as chronic absenteeism, buddy punching, time abuse, tardiness, etc. According to a study conducted by Axsium Group, large companies can save up to $1,600 per employee when they implement a reliable time tracking software program.
3. Improves Efficiency/Productivity
Managing and monitoring attendance manually is laborious, time-consuming and expensive. It takes a lot of time to process time cards and paper sheets, authorizes overtime shifts and leaves, creates schedules and payroll. Time software frees up valuable HR and administration time because every process is automated and updated into the payroll system. Apart from saving time and effort, you’re also getting data accuracy. This aids in optimizing the allocation of resources which greatly improves productivity and profits.
4. Visibility & Insights
Do you often require quick glances at all unplanned/planned absences for a particular employee? Within a few clicks, you can create accurate reports on absences, hours worked, overtime, etc., even generate a monthly summary on all necessary data grouping. You can also create customized reports to further improve transparency and visibility within your company.
Managers can employ graphical views of their reports to gain an understanding of employee attendance data. Time/attendance software provides a centralized data hub that can help employers improve and analyze policies on hours, leave, performance, workplace culture, pay, etc.
5. Hassle-free Workflow Management
An integrated attendance system provides excellent visibility on all available data and eases the workflow of leaves, performance reviews and payrolls. Alerts and notifications are automated, enabling managers to approve employee requests immediately without much effort. Within a few clicks, your time software program will enable your HR department to allocate work, manage schedules and track shift swaps. You can also use it to forecast budgets, resources and workloads.
6. Flexibility
In modern times, employees work from home, from the office and from remote locations. An attendance software program enables organizations to track employees in all locations using sophisticated clocking options such as internet networks, biometric terminals, smartphones, swiping technologies, desktop readers, etc.
Need more reasons to switch to a better way of tracking time and attendance? Contact TimeLabs to learn more about time attendance software.
