Most companies do not fully appreciate the losses incurred due to their lack of proper time and attendance record keeping. Traditional paper-based time and labour management systems rely on exhaustive human intervention and may detract from the success of the organisation.
Inefficiencies in record keeping occur at several points prior to payroll processing and typically include; employee mistakes during time sheet submission, extra time taken during manager approval, extra time taken during payroll preparation and employee misappropriation of time.
Employees do not like filling out time sheets, a fact that is hard to overcome, often submitting erroneous time sheets without consideration of the time taken for administrative corrections. Local managers often spend inordinate periods of time researching and correcting such mistakes. Recent studies also show that time sheet misappropriation (or "time loss") for breaks, late arrivals, and early departures may account for as much as 4% of the value of payroll.
Once approved, the payroll officer is responsible for converting raw time sheets into payable wages, a process that is labour intensive and prone to human error.
A modern day Time and Attendance system employs Biometric Terminals to accurately record employee shift and break times. The technology is fast and extremely reliable. Alternative (and more affordable) options for recording employee shift and break times include mobile applications such as the ClockOn GO Mobile App or the Employee Web Portal.
Complete the calculator below to find out how much your current time and attendance process may be costing you.