My previous employer lost over a million dollars of revenue because the organization was not using effective Time and Attendance Management software. So, yes, Time & Attendance software is that important.
Even though there was a Time and Attendance (T&A) policy in place, there was no set way that all data was collected or measured over different periods. Managers used critical T&A data in different ways at their discretion. The company lost significant money due to California’s Labor Laws and overtime. Before implementing a robust workforce management system (WFM), employees clocked in and out with standard payroll.
After the organization adopted a WFM system, leaders could measure the following:
- The area in the company that was causing the most overtime.
- The employees’ abuse of the overtime policy and occurrences of time theft.
This data from the WFM system facilitated an executive decision to change all California employees to a 5-day week instead of a 4-day work week to save costs. The WFM system was a critical part of these corporate decisions.
Time and Attendance Tracking is an essential aspect of your organization.
Time and attendance tracking is essential to managing any business or organization, regardless of size or industry. Here are some reasons why accurate monitoring and recording is important:
| Payroll | Accurately tracking employee time and attendance is crucial for calculating payroll. Accurate time entry ensures that employees are paid correctly and on time, and it also helps prevent disputes and legal issues. |
| Compliance | Many countries have labor laws and regulations that require employers to maintain accurate records of employee time and attendance. Failure to comply with these laws can result in penalties and fines. |
| Productivity | Monitoring employee time and attendance can provide insight into how efficiently employees work. It can help identify areas where productivity can be improved, such as reducing absenteeism or addressing tardiness. |
| Resource allocation | Tracking employee time and attendance can help managers allocate resources more effectively, such as scheduling enough staff to meet peak-hour demand. |
| Employee accountability | Monitoring time and attendance can help hold employees accountable for their work hours, reduce time theft, and prevent abuse of sick leave and other benefits. |
Effective workforce management involves establishing clear policies and procedures for tracking employee T&A, using accurate and reliable tracking systems, and regularly reviewing and analyzing attendance data to identify and address any issues or inefficiencies. It also involves communicating expectations, training employees to use Time and Attendance systems, and enforcing policies consistently and fairly.
Let HRchitect help you with your Time and Attendance system needs. From vendor agnostic WFM System Selection to WFM System Implementation or post-implementation optimization and concierge managed support, let us know how we can help. Contact us to find out more about what assistance we can provide.
About the Author
Durrel Lowe brings several years of experience as a Workforce Management Analyst and Technical Consultant. As a Workforce Management Analyst, Durrel is adept at performing calculations in overtime, vacation, and sick hours to ensure accurate data for payroll processes.
Learn more about Durrel on LinkedIn.