Time and attendance management is the process of monitoring employee working hours, including when they start and end work, how many breaks they have and when, their sick leave allowance, and their annual leave.
Businesses depend on their employees to carry out even the most basic functions, so tracking their attendance is integral to an organisation’s performance. There are many ways to track employee attendance, such as timesheets and timecards, but modern businesses use smart attendance systems to remove the stress of manual tracking.
Automatic absence and time tracking can save time and cut costs, positively impacting your business’s bottom line.
5 ways automatic time and attendance management impacts your bottom line
1. Relieves administrative workload
Automatic employee time and absence tracking removes the need for manual timesheet entry, which saves HR, payroll managers, and your employees’ time. Managing these processes with software minimises the risk of human error, ensuring accurate payroll calculations.
2. Reduces payroll errors
By automating employee time tracking, your smart attendance system can allocate work hours to employees – ensuring that payroll processing works from information that’s as accurate as possible.
This also makes time theft more difficult to get away with, allowing an organisation to control labour costs and reduce the frequency of fraudulent activity.
3. Easy legal compliance
There are many government laws and regulations in place to protect employees from unfair labour practices in the workplace. Manual administration of attendance can mean your business fails to stay compliant due to human error or ignorance of regulations.
Automatic time and attendance systems ensure your business doesn’t violate any laws and keeps records that can support your business in court.
4. Makes budgeting easier
Time and attendance management software gives employers a comprehensive overview of employee attendance trends and work patterns. This allows decision-makers to plan and improve efficiency by budgeting and making changes.
5. It’s simpler for your employees
Intuitive systems will make consistent and accurate time tracking easier for your employees. Automating attendance saves your employees’ time and decreases rate of turnover.
When employees’ time and attendance are efficiently handled, they are more likely to be satisfied with their job than if they felt overworked or unfairly compensated.
Time and attendance automation impacts your bottom line
In summary, time and attendance automation positively impacts your bottom line in several key ways:
- Reduced workload: Automating time and attendance eliminates the need to manually enter data. This saves administrative time and allows HR to focus on other tasks.
- Improves payroll accuracy: Automated systems reduce errors in time tracking and payroll calculations, ensuring employees are paid correctly and in a timely manner.
- Easier compliance: Automation helps to ensure compliance with labour regulations be accurately tracking work hours and keeping comprehensive records.
- Cost savings and budgeting: Accurate record-keeping allows decision-makers to develop strategy and budget more intelligently.
- Better for employees: Automation removes the need for employees to worry about tracking their work hours, which saves them time.
A good time management and absence tracking suite enhances efficiency, compliance, accuracy, accountability and data-driven decision-making, all of which are crucial for making your organisation more efficient and profitable.
