Monitoring of employee attendance is a key requirement if you are to minimize employment costs and improve business efficiency. Some of the key benefits to a business that has an adequate time and attendance reporting system include:
- Easier identification and elimination of time card fraud.
- Identification of areas of excess overtime and elimination of the cost by increasing staffing levels or improving efficiency in other business processes.
- Management has a more accurate picture of the real cost of employment.
- More simplified compliance with overtime, vacation and occupational health and safety requirements.
- Improvements in business efficiency and payroll accuracy.
All of these are positive things for any business. But to be able to deliver on any of these benefits a time and attendance reporting system must be:
- Timely, there is no point having a time and attendance reporting system that delivers reports 6 weeks after the fact.
- Flexible to allow easy compliance with your payroll rules and local labor requirements.
- Simple to administer and run. You do not want to be handing back efficiency gains and cost savings from your time and attendance reporting system because it is large and unwieldy and takes a lot of time to run.
- Computerized and interface with de facto standard office software such as Microsoft Office.
- Able to collect time and attendance information from multiple locations within the business and store the information centrally.