Save Businesses Money with Time and Attendance System

Wednesday, October 19, 2022 TimeTec 0 Comments

How can time and attendance save a business money? Putting them together doesn’t make any sense. Once everything has been broken down, the answer is obvious. For most businesses, staffing typically costs the highest in spending, companies are paying employees for their time and attendance, and this is why tackling the biggest issue, is a great way to help companies save money.

Eliminate Time Fraud
The greatest “Nemesis” of all time, whether we are looking at an excel sheet or a conventional punch card can be clocked in by just about anyone. All these are risks of ghost workers that put a dent in the companies’ financial well-being. Not to mention, there’s another problem associated with this, buddy punching. Leaving it unchecked would only encourage other employees to join the ‘bandwagon’. Thankfully it all can be regulated simply by implementing biometric devices.

Avoid Human Errors

We are just human, and errors are unavoidable. No matter how cautious we are, sometimes mistakes just slip through the cracks. Small mistakes now and then are still tolerable, but it only takes one huge human error to overturn the whole company into a crisis state. Let’s face it, a crisis doesn’t just cause a company to go haywire, we are talking about actual dollars being spent to neutralise the crisis. Before it turns into an actual problem, you should start working on it, and there is no better way to counter this other than relying on automation offered by the cloud-based time & attendance system. We should let technology do what it does best.

Efficient Reporting

All employees should focus on what truly matters. Instead of wasting effort on time and attendance compilations or tabulations, employees should focus on their actual KPIs. Have you ever thought of how much you’re paying in hidden fees for all this? Your employees could have utilised their time better on tasks that bring ROI to the company. One way to solve it is through the adoption of an attendance system.

Employees’ Accountability

Having a proper attendance system may encourage better employee’ clocking habits. Employees would know exactly when to show up, take their breaks and only leave when the shift has ended. All of these would translate into a more productive workforce and eliminate the problems of short hours or long breaks that would cost the company a fortune.

Improve Employees Morale

When employee morale is high, naturally companies will perform much greater. Simply put happy employees mean a happy company. What comes with it would be greater teamwork, efficiency, and just about everything  To achieve this, companies need to ensure that employees are in shape. If you have to ask, getting that pay cheque in time is one way to do it. A Time & Attendance System alone would be insufficient, it has to be coupled with a holistic Cloud-Based HR System to reap the benefits. How so? Cloud-Based HR Systems can break the barrier between systems and the exchange of information can also be done seamlessly. The Time & Attendance System could transfer all the attendance information to the Payroll System without the need for data compilation. A truly automated system that ensures all pay cheques are delivered on time, without the fear of any unforeseen delay that always results from human errors.

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