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Employee Time Tracking and it's Benefits
by Freelance Writer
Published on this site: January 2nd, 2007 - See
more articles from this month
'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.
Freelance Writer - By a freelance writer for http://WaspBarCode.com/: http://www.waspbarcode.com/wasptime/ providing
Automated time and attendance systems: http://www.waspbarcode.com/wasptime/
Article reproductions must include a link pointing to http://www.waspbarcode.com/wasptime/
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