Compiled Time and Attendance sheet with a pen - business concept

6 Benefits of a Good Time and Attendance System

16/05/2018

If you are a business manager, you need to consider time and attendance system as an essential part of the workforce management. It is beneficial for the employers because of improved time recording. But… It is also beneficial for the employees, as it guarantees that they are paid properly.

What is Time and Attendance System?

Time and attendance system is a time clock or cloud based solution that gathers employee information:

  • work time, including starting and ending hours of their shifts
  • break and meal times
  • off days
  • tasks and productivity in respective departments.

This data can be recorded automatically depending on the nature of software you adopt.

Types of time attendance systems

There are several ways in which you can track and calculate attendance of employees.

  • Manual Time Clock or Punch Clock – it was very commonly used in the 20th century. Every time the workers entered the work they had to use the time card. The punch in the card to the machine, where the time stamp with date and hour was printed. On that bases the timesheets were calculated.

    Vintage Time and Attendance Clock

    Vintage Time and Attendance Clock

  • Automated Time Attendance Software – fully automated solution that allows employees to track their work hours from any device. All the data are collected and then send directly to timesheets which makes time management much easier and faster.

    Automated time attandance tracker

    Cloud based time attandance tracker

Tracking Time and Attendance

When small businesses are trying to grow fast and innovate the most intelligent way is using online time and attendance software. The truth is that smart businesses succeed when strategy involves investing in tools that enhance not only the business activities and client-facing interactions but employee productivity from within rather than from without.

Utilization of Employee Time Tracking software like MoneyPenny is a great approach. It guarantees that your team is performing at its peak. You see in real time who is working on what project and task. You can check who is on holidays or a lunch break. The software is a better option compared to spreadsheets or complex and pricey solutions designed for large corporations. Business owners with attendance system can keep close monitoring of their workforce productivity and improve team management in the cloud!

6 Benefits of Time and Attendance Software for Everyone

Modern Time and Attendance System

 

  1. Payroll simplification

One of the most mind-numbing tasks for any employer is tracking the employee time. Today that undertaking is made simpler with the time tracking software. The software aids the company to keep an eye on time spent by employees on certain tasks hence lessening the burden of the lengthy task of payroll preparation.

  1. Averting tax and benefit problems

On top of guaranteeing employees are being properly paid, using this software together with a payroll system also decreases potential slip-ups in tax filing. And because many workers benefits – for example, vacation and added time — are tied to the number of hours that one has worked, an automated system is essential for increased HR management efficiency.

  1. Lawsuits Prevention

According to an editorial on WorkForce.com, the electronic records of employees time proffered by the software enables you to provide evidence you remunerated workers for the hours that they labored. Additionally, in the occurrence of a safety audit, the employers will be in a better position to prove they had the right combination and number of employees on-site at the proper times.

  1. Increment in employee satisfaction

You may face initial resistance from employees while trying to adopt a new system. That’s why it is important that you pick a software that is easy to use for everyone in your company. The workers will also be reassured of a more efficient system for computing their payment (with lesser human miscalculations)

  1. Increased equality

An extreme infuriation for workers is when they get to work on time and work hard all day long — only later to realize other, less meticulous employees, in fact, go scot-free after long lunches, late comings and before time departures. This might lead to morale issues among hardworking employees who abide by the company laws — and if left unattended, can craft a culture of cheating on the time slips.Certainly, this is frustrating for the employer, too! However, it’s hard to monitor all your entries and exits each second of the day.

  1. Tracking of projects and tasks

You can also use the time tracking software to find out how well some projects and duties are being carried out. For instance, if you recognize that normally a particular task takes two to three hours to complete, but a worker took five hours this will be a sign indicating that there is a problem. You can engage the employee and discover if they require further training to make the project easier. You can realize if somebody else had delayed part of the project or the material that was necessary to accomplish the task. Utilizing the records from the system will alert the employer about potential setbacks that need to be resolved. You can identify these issues at the initial stages of the project and thus wind up using time more resourcefully to attain the company goals.

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Everyone is a beneficiary of the software

As mentioned earlier, smart time and attendance software does not benefit the employers only because of improved time recording. Workers and customers are more probable to earnestly adopt a new system when they realize the advantages it presents onto their welfare. The earlier and more the employers involve their employees and customers in the course of action, the more likely it will benefit all the involved parties. The result — an easier and smoother implementation. You will start appreciating the time and cost savings of your new system much faster.

Conclusion

If you are considering  smart time and attendance software, there is some great news. MoneyPenny is the exact kind of time tracking system that you are looking for! Within your financial plan.  At MoneyPenny you get a greater prospect and ability to negotiating to acquire the genuine software that will suit your business requirements. Start tracking time right away! Start 30 day FREE Trial to see all the benefits.

 

 


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