According to numerous studies, companies that utilize human resources software to track time and attendance eventually get to enjoy both direct and indirect returns. The decision to invest in an accurate time and attendance system or in an easy time clock has time and again proven to be invaluable for most businesses, and according to many business owners; it usually starts paying for itself within the first year of implementation. This is because one of the biggest advantages of automating the time and attendance procedure is ongoing costs savings that arise from a reduction in payroll errors, elimination of overtime costs and time theft, and increased productivity.
If you have been thinking of investing in an easy time clock, here are 6 reasons why you should do it as soon as possible:
1. Buddy punching
Buddy punching, which is the practice of punching for one another, is one of the first challenges that will be wiped out by reputable human resources software. This is because an easy time clock usually incorporates biometric fingerprint and iris readers, and it is impossible to duplicate biometric characteristics such as fingerprints and iris recognition.
The fact that today’s human resources software come with biometric technology means that the process of employee time and attendance tracking will be as accurate as possible, and this will in turn eradicate most time theft avenues such as an authorized overtime and early arrivals/departures.
3. Increased productivity
This is also another advantage that comes with modern human resources software. Human resources software eliminates physical time and attendance records thus saving employee time, decreasing staffing overhead, and simplifying the payroll process. This, in turn, leads to effective business management and also increased productivity.
4. Returns on investment
ROI (increased return on investment) is also another positive achievement that can be brought about by investing in an easy time clock. This can be achieved through elimination of buddy punching and other challenges caused by human error and other time theft loopholes that are part and parcel of an outdated time and attendance system. Such loopholes and inaccuracies cause many businesses to lose hundreds of thousands of dollars each year.
5. Employee accountability
Human resources software also creates concrete employee time and attendance audit trails. This improves employee responsibility and accountability since it would be easy for irresponsible employees to be indentified and held accountable for their recklessness.
6. Job satisfaction
It is normal for employees to work overtime occasionally when there is an unusual situation to be addressed. Uncontrolled overtime, however, can wear down even the most passionate employee. An accurate easy time clock, when used appropriately, will always alert managers and supervisors when overtime is getting out of hand.