Employees are the biggest expense and asset to any organization. In fact, they are the people who drive success in a company. Tracking who’s working, when and how much time is very important as it gives top level management deep insight into employees’ activities.
Time & attendance management still remains a top concern for HR professionals. Keeping track of how and where employees spent company time isn’t just a hassle – it can be monotonous task when done manually. However, if you turn to time and attendance management software, it doesn’t have to be.
Importance of T&A Software
The software automatically records employee clock in & clock out details and helps HR professionals improve payroll accuracy and save time and money. Besides recording employee attendance, the software can capture the accruals of sick, vacation, and paid time off for each employee. All that you need to run payroll efficiently can be done easily for you with a time and management solution. Above all, it can eliminate the need to manually input employee details. Simply put, you can process payroll accurately in less time, for less cost, and with less risk.
Here are some challenges the software helps solve.
Time Theft
Time theft is a serious concern for most businesses. Around 80% of employees spend company time on personal work. Claiming they have worked for longer hours when they are actually not is the best example of time theft. When you have a T&A management solution in place, you can access detailed analytics and figure out the actual time employees spent on each task.
Payroll Errors
Redundancies and inaccuracy are quite common while processing payrolls. Manually input of time and attendance data of employees will certainly result in discrepancies. This can be overcome by automating the attendance tracking process.
Making businesses get the most out of every dollar spent on labor is what makes time and attendance management software an invaluable tool for businesses of all sizes.
