5 Benefits of Using an Attendance Management System
Efficient attendance management relies on real-time and automated processes. An attendance management system encompasses all aspects of attendance, including absences, leaves, and payroll. It not only minimizes errors but also reduces costs, enhances productivity, and boosts profitability.
Were you aware that employee absenteeism can consume as much as 35 percent of a company’s payroll? (source: Mercer). This highlights one of the most significant challenges that businesses confront today – the management of employee attendance. Employees constitute a company’s most valuable asset, and maintaining precise and error-free records of their working hours, entry and exit times, leaves, and breaks should be a paramount concern for organizations. Accurate attendance data maintenance can have a substantial impact on a company’s operations, productivity, and efficiency. Moreover, it reflects the company’s commitment to its employees.
Manual attendance records are susceptible to errors, and these errors can adversely affect employee morale, productivity, and efficiency. Thankfully, with the significant advancements in attendance management technology, tracking employee work schedules has become a seamless process today.
Why Use the Attendance Management Tool?
Businesses use technology across verticals to transform the way they function and to improve profits and turnovers. Technology has also enhanced workplace wellness, and attendance management has been one of its beneficiaries.
Business dynamics have also experienced a significant transformation. Multi-locational operations have become commonplace for companies today, with employees dispersed across different geographic regions and time zones. In this multifaceted workplace, the HR department faces the challenge of effectively managing and monitoring employee work schedules and productivity. Without proper attendance management systems in place that can accurately and instantly track and record work schedules, attendance tracking can become chaotic. To understand how and why to choose a leave management software, read our blog titled “Does Your Start-Up Need a Leave Management System? Here Are the Top 5 Answers to Frequently Asked Questions About Leaves.”
Below are five advantages of implementing attendance management systems.
Attendance logbooks served their purpose effectively in the traditional era of pen-and-paper offices. But they’ve long outlived their value. Consider a most basic scenario: What if you need to check an employee’s attendance data from six months back. It would almost be like finding the proverbial needle in the haystack. Imagine the amount of time, energy and resource that would go into finding an old register and laboriously scanning it to dig out the relevant information. An automated attendance management system would do the same task at a much faster rate. HR functions such as payroll calculations and leave tracking, which were once labor-intensive administrative tasks, now occur with a simple click of a mouse. Moreover, they are executed more reliably and accurately, eliminating concerns about human errors.
For large organizations with hundreds of employees, relying on manual attendance logbooks would be impractical and unfeasible in the present day. Embracing an efficient attendance management system is the logical course of action for them.
Almost all attendance management tools have self-service features that help employees to flag any wrong data that may have been entered into the system. This enables companies to utilize the data for compliance and legal purposes. While it’s accurate that attendance tracking technology offers nearly flawless precision, there might be instances when it records incorrect information due to software or server glitches or tracker malfunctions. By employing the self-service option, employees can communicate with the HR or payroll departments to report the discrepancy and have it corrected. This results in time and cost savings for both employees and employers. It also empowers employees to monitor their work hours and plan their schedules more effectively. Employers benefit from avoiding unnecessary problems since attendance discrepancies are addressed at an early stage.
Calculating employee work hours, leaves, workdays, and breaks can be one of the most time-consuming tasks for HR and payroll departments. When done manually, it’s susceptible to errors. Intelligent attendance management tools can entirely eradicate this laborious task. Attendance systems are meticulously crafted to monitor even the smallest aspects of employee work hours while furnishing instant data, consequently enhancing productivity and efficiency.
Cost efficiency is a significant rationale for organizations to adopt an efficient attendance management system, offering a substantial return on investment. Acquiring an attendance management tool constitutes a one-time investment, which can spare companies from recurrent expenses associated with outsourcing the task or hiring additional HR personnel to oversee the payroll function. If you compare the two options on a cost-to-company scale, investing in an attendance system clearly emerges as the superior choice. In the long term, attendance management systems serve as cost-saving, time-saving, and resource-saving solutions for organizations. For further insights, read our blog titled “Benefits of Integrating Payroll with Attendance” to understand why linking your payroll
Attendance management systems furnish companies with an intricate overview of each employee’s work pattern, encompassing hours worked, leaves taken, absences, and overtime. Moreover, organizations can generate this data in diverse formats, whether it’s in the form of daily, weekly, or monthly reports. This data significantly contributes to fostering transparency and accountability within a company. Additionally, it serves as a valuable resource for managers during appraisal periods. HR managers can leverage it for planning, analyzing, and enhancing company policies related to leaves, work culture, schedules, performance, and compensation.
It’s evident that attendance management tools are becoming a necessity rather than a luxury in contemporary workplaces. The era of pen-and-paper offices has become obsolete. This system serves as a comprehensive solution for all your time tracking and leave planning needs, encompassing everything in between.
Kredily’s unique cloud-based attendance management system meets all the benefit markers listed above, and more. It allows employees to digitally mark their attendance from anywhere they may be working. To make work seamless for HR, its attendance system is linked to the payroll process. Another beneficial feature is its proprietary payment gateway, Kredpay, which allows instant transfer of salaries to employees. There are added non-HR features too – like its video calling solution ‘Greet’ and collaboration platform ‘Reach’