A 2009 study conducted by Harris Interactive found that 21% of the employees surveyed confessed to stealing company time. Of those that admitted to time theft, 5% did so by buddy punching, 69% said they punch in and out earlier or later than they are supposed to, 22% rounded up on their time sheet and 14% did not punch out for unpaid lunches and breaks.
With numbers like this, it is easy to see why keeping a close eye on employee’s time is so important. One of the best and easiest ways to do so is with online time and attendance tracking software and a biometric fingerprint time clock. This powerful combination helps eradicate buddy punching and put an end to time theft practices. With a fingerprint time clock system, rather than marking attendance with a time card or by filling out a timesheet, employees place their finger onto a biometric scanner that reads their fingerprint and records the time of the scan. In a matter of seconds, the device automatically identifies the employee, records the time of the employee’s punch, and securely stores all time and attendance information for online data retrieval.
An online biometric time and attendance system is, by far, one of the most efficient, affordable and easy-to-use solutions available today; however, many employers remain hesitant to invest in such time tracking systems. If you are one of those employers, this post is for you. Below we share five of the top benefits that online time and attendance tracking systems can bring to your company.
Five Benefits of an Online Time and Attendance Tracking System
Costly errors wreak havoc on a company’s bottom line. Compared to manual time tracking processes, time and attendance software is more accurate and cost effective. Time and attendance software reduces the risk of human error and ensures an easy, unbiased and automated approach when it comes to tracking employee work hours, and is one of the top five reasons for investing in a system.
2) Maximize Your Time
One word here – automation. Automated systems save time and effort, ultimately cutting down on labor costs. Imagine freeing up the time you spend manually tracking time and attendance, as well as the time spent manually preparing payroll! Wouldn’t you rather spend your time working on generating fresh business ideas? Time and attendance software with a biometric data collection device allows you to do so.
3) Increase Efficiency
Streamline your employee’s time and make your daily operations more productive! When you eliminate legacy time keeping practices, you offer your employees the tools and resources they need to succeed. Online systems make time tracking smarter, not harder.
4) Save Money
Implementing a technology based time and attendance solution with biometrics will help reduce your labor expenses. Physically collecting and manually crunching work hour data to process payroll can take a lot of time. With an automated time and attendance solution, you can eliminate many of these tedious steps to increase efficiency and save money on labor costs.
5) Improve Employee Satisfaction
Online time and attendance systems have been shown to increase employee job satisfaction. One reason for this is because time and attendance software improves accuracy and timeliness. In other words, employees know they will be paid on time each and every payday and that their paycheck will be for the right amount. There is also a higher level of privacy with online systems because only the employee and authorized HR staff have access to view sensitive data. Lastly, employees tend to be happier when they know that their fellow coworkers are not getting away with time theft and that everyone is being held to the same level of accountability.
Online time and attendance systems are a way for your organization to save money and eliminate the disturbance of manual procedures. By implementing an online time and attendance system, specifically one with a biometric time clock, your business can increase productivity and effectiveness, control labor costs and boost profits. These are just some of the reasons to jump onto the online time and attendance train. If you’d like more, check out the blog at www.uAttend.com.