With the use of time and attendance tracking systems, organizations have been able to cut down costs on many different aspects. Through this system, the resources previously needed for the tracing, monitoring, and updating information on time and attendance are brought down. Since this system records to the exact last seconds, previous errors in recording have been stamped out.
Time theft and buddy punching are also crashed out from the list of problems organizations face. These fraudulent practices of employees who arrive late or take long lunches and then bribe time record keepers to cheat management are completely eliminated. Imagine if multiple employees do this every single day, then the amount of hours stolen for productive work will cost the organization a lot in figures.
Another benefit of using this kind of automated system is the cutting back in all costs necessary for buying supplies like ink and ribbon, which were used for the old punch clock systems. Automated systems like this use high-technology machines that utilize sensors and identify bar codes in ID badges which they electronically record and compile in a central database. This allows for managers to easily view all gathered data by the click of a button, eliminating the need of sifting through piles and piles of papers and information sheets which was typical of the manual recording method. In long-term view, a lot of money can be really saved by the company.
Another advantage of this system is their report-generating feature. Because everything is captured into the central database, managers can simply be alerted when employees are working beyond the required business hours. Then, managers can readily notify these persons through a prompt message sent via email.
It is also with the support of this system that the human resource department can view the time logs of employees and see their respective compensation and salary for the hours they have worked. Thus, the organization can justify the salary of all employees based on their job history.
Clearly, the long-term benefits of time and attendance tracking system outweigh its cost. It is then prudent of organizations to do a one-time spending on this automated system.