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Employee Time Tracking And It’s Benefits
Employee time
tracking has been around for over a hundred
years. It is said that the first time clock
was invented in November of 1888 by Willard
Bundy. Bundy’s brother then opened the Bundy
Manufacturing Company, later to become IBM.
While the idea of tracking the time and
attendance of an employee remains virtually
the same, the systems used to do it have
vastly changed.
Since the 1990’s, computed based systems
have become widely used to track an
employee’s time. This can be done in many
ways from using a magnetic card to scanning
finger prints. While time tracking can be
beneficial to any size or type of business,
the benefits for a small to medium sized
business are tremendous.
* Money Savings – it is estimated that up to
4% can be saved of annual payroll with a
time and attendance system. With the
hardships small businesses face these days,
any monetary savings are a benefit. There
are less data entry errors when payroll is
calculated or attendance is recorded. The
savings are increased when a biometric
system is utilized. Biometric systems
utilize one of more physical characteristics
(such as finger prints) to identify an
employee.
* Eliminates “buddy-punching” and tracks
time off – Buddy punching is the practice of
one employee clocking another employee in or
out. This can cause hundreds to thousands of
dollars in loss to a company. The systems
can also capture and track sick time,
vacation, holiday pay and conference time
away from the office.
* Systems provide multiple reports – Reports
can be compiled such as a wage report,
timecard report, absence report, payroll
summary, attendance report, employee list,
early out report and overtime report.
Automatic time clock downloads can also be
scheduled and most systems can provide
support to all payroll scheduling needs
(weekly, bi-weekly, bi-monthly and monthly).
* Easy to install – The time and attendance
software is easy to install as well as the
time clocks themselves. Instructions are
provided and most companies provide
technical support for any additional
questions or issues that arise. It is
important to verify the system being
purchased is compatible with any existing
operating system.
While the benefits of these time clocks are
more in the employers favor, they can also
benefit the employees themselves. Employees
can feel confident that these systems are
providing accurate punches and that in turn,
the employee will be paid properly.
When selecting the best time and attendance
software for a company it is critical to
read through the descriptions, benefits and
features of the system. The ability to track
this information is a highly cost-saving
measure that every company should take
advantage of. It also provides a more
organized and comfortable atmosphere than
the traditional time tracking methods can.
By a freelance writer
for WaspBarCode.com/:
www.waspbarcode.com/wasptime/ providing
Automated time and attendance systems.
Article reproductions must include a link
pointing to
www.waspbarcode.com/wasptime/ .
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