New ways of thinking about time and attendance as workforce management technology have resulted in monitoring the workforce as a strategy instead of a tactic. Scheduling and time and attendance have historically been a tactical issue to be dealt with. Collecting the time cards and processing the information for payroll has primarily been a tedious manual function. Time cards and time clocks were physically collected and manually compiled to create a statement of the workforce’s activities. Reports were cumbersome, gathering stats unwieldy – overall, it was a murky and underdefined opportunity.
Companies that recognize that technological advances have created a situation for companies to be in control of their destiny. By having better, more accurate and faster information, companies can react by making decisions that lead to greater efficiency, better decision making, as well as adding real value to the bottom line of the company.
Powerful immediate productivity results can be seen when a comprehensive automated solution for time and attendance is implemented. The result can be obtained without a huge capital expense. Robust time and attendance systems with biometrics can be implemented for companies with up to 50 employees for less than $1,600. For such a minor outlay, the value to the company in terms of controlled labor expense, reduced compliance exposure and productivity improvements will more than compensate.
Reduced Labor Expense:
Companies typically see cost savings in inefficient processes almost immediate when they automate scheduling and time and attendance. Ineffective and time consuming manual processes are replaced with a streamlined and automated system which result in saved time as well as money.
With automated time and attendance, data can be collected and analyzed at a deeper level, leading to additional streamlining, and greater cost saving over time. Appropriate technology helps to create the reports necessary to analyze business patterns and determine appropriate staffing. This facilitates scheduling – with clearer relationship of staff to need.
New time and attendance technology enables real-time monitoring of labor spend; a tool to forecast and plan effectively. When labor suffers excessive overtime, unplanned absences or other issues, management can react. In short, the outlay for a new time and attendance system will be justified due to the true benefits and cost reductions, which will recoup the cost of the system and result in greater profitability.
- Time and Attendance (almaztechnology.wordpress.com)
- What is Automated Time and Attendance? (novatime.wordpress.com)
- Importance of Labor Cost Reduction for Small Businesses Explained (staples.com)