It is said that more than 80% of employee timesheets require stringent rectification because it is difficult for them to remember the timings. Even if employees work from home or at a remote location, keeping track of their working hours is critical. It is a direct measure of different departments’ productivity and provides simple inputs for areas that need to be improved.
The employees’ hours & leaves are tracked through the Leave and Attendance Management system. It’s the system you use to track how much time your workers spend working and how much time they spend off. Attendance management can be accomplished by keeping track of staff hours on paper, using spreadsheets, punching time cards, or through online attendance software.
Importance of using an Employee Leave Management Systems
Employees should have access to an Attendance Management System in every company. Regardless of how you implement it, your system must adhere to the applicable compliances.
Leave management policy allows you to properly quantify the hours your workers or staff work. This is especially useful if you have staff who are paid by the hour.
You must be able to calculate the exact amount of compensation owed to your employees. You also need to know if you owe any employees overtime pay. If you have salaried staff, you may view how often they work at any time. Employees can track and document their time in and out of the office. Even if you don’t see them, you can keep track of how much they work.
Employee time tracking will also reveal whether or not they are punctual.
Only if you ask employees to document the precise time they enter or leave will this function. You can see if an employee has a habit of arriving late or leaving early. You may also keep track of how many days off staff take with attendance management. If your company has a policy that allows employees to take a specific amount of sick or vacation days, this is critical.
Benefits of Implementing a Leave and Attendance Management System
Even if we offer them computational aids, humans are prone to making mistakes. Manual data entry errors are unavoidable and costly, therefore automated attendance management solutions provide accurate time records. As a result of this reliable data, accurate performance and payroll statistics can be provided.
Have you ever considered how leave management solutions could help you save money? Leave management policy helps businesses save money by eliminating inaccuracies in time reporting, buddy punching, absenteeism, tardiness, time misuse, and overpayment.
Manually tracking and controlling attendance can be time-consuming, difficult, and costly. Processing paper sheets and time cards, creating schedules, authorizing leave and overtime, and manually creating payroll takes time. Allow yourself more time in the office with an automated system that does everything for you, from keeping track of staff hours to automatically integrating data into your payroll system. The time and effort saved, paired with data quality, aids in resource optimization, resulting in higher productivity and revenues.
Would you like a rapid snapshot of all employee or group absences, both planned and unplanned? You can generate accurate reports on hours worked, absenteeism, overtime, and a monthly summary report for any data/groups inside the organization with only a few clicks. With the centralized data, any customized report may be generated, increasing visibility and transparency inside the organization.
Managers can also use the report’s graphical versions to quickly and easily capture attendance information. Employers can proactively examine and adjust rules on leave, hours, workplace culture, performance, compensation, and more with a single, reliable attendance data hub, allowing them to evolve in their operations.
An integrated employee Leave Management system can improve data visibility and streamline payroll, leave, and performance assessment processes. Notifications/alerts are automatic, and the manager can approve requests for early departures, overtime, and other requests without having to communicate with anyone. Manual scheduling is no longer a daunting task. An automatic attendance management system can help manage calendars, assign tasks, and keep track of shift swaps with just a few clicks. Leave management policy can also aid with workload, resource, and budget forecasting.
Employees work from the office, from home, or remote places in today’s global, well-connected world. Organizations may simply measure employee time utilizing a range of clocking solutions, such as cellphones, internet networks, swiping technologies, biometric terminals, or desktop readers, with an attendance management system.
Configuration / Integration:
Based on the nature of your business and policies, you can select leave management solutions that best suit your needs. Some solutions can interact with any third-party attendance gear (swipe, biometric) and gather GPS-based attendance using mobile applications.
With time tracking and attendance monitoring solutions, you may develop personalized attendance regulations based on your organization’s needs.
Each attendance shift can have its configuration, with options to establish attendance cycles, mark-in/out regulations, leave deductions, and optional holidays.
Real-time attendance tracking and automated payroll inputs are both possible with cloud-based attendance management. This aids in the management of alternate payment plans and ensures that all data is available in real-time. Managers can use “planned vs actual” reports to make real-time adjustments to work schedules and direct staff activities.
The majority of employee Leave Management systems are designed with high-security systems and architecture in mind. Biometric solutions, in particular, are extremely dependable and secure and can help prevent time theft, buddy punching, and administrative costs associated with forgotten PINs and stolen ID cards. These solutions are especially useful in firms where security is a top priority.
Inaccurate records can cost your company a lot of money in overtime payments, as well as breaking labor rules, resulting in costly legal defense and fines. In the spirit of fairness, regulations oblige companies to track attendance and offer adequate compensation to their employees for any additional hours worked. This procedure is made easier and more seamless by using an attendance management system that is integrated with your payroll.
Why should you use a leave and attendance management system?
Only 66% of employees who manually report their time on timesheets are accurate. This is due to the absence of automation. Companies and employees bear a significant financial burden as a result of timesheet inaccuracies.
Some people are paid more than the work they have done, while others are paid less than they have worked. For enterprises with a small number of employees to those with a large number of employees, the automated attendance management system enhances accuracy rates. This automated software can also be used to find other integrations.
Attrition Rates are Reduced:
Employees who leave an organization frequently may suggest that the corporation is engaging in wasteful activities. Before it’s too late for enterprises to retain their departing employees, the employee attendance monitoring system gives crucial inputs to management. The nature of any department’s scheduled offs is revealed by trends in absenteeism and leave patterns. Managers can thus work in the proper direction to resolve difficulties as soon as possible to reduce rising attrition rates.
Buddy punching, late arrivals, unexpected absences, and a variety of other difficulties involving leaves and timeliness are all vulnerable to fraud. These frauds may appear minor on an individual level, but they can have serious consequences for large corporations. The effective Leave Management Services is cloud-based and very secure against data intrusions. Furthermore, these technologies improve the monitoring of current trends 24 hours a day, seven days a week, to make it easier for managers to spot the best red flags. The leave and attendance management system’s robust connectors eliminate any potential complications with payments and thereby boost HR’s productivity.
Time and money are Saved:
Many of the human resource department’s productive work hours are spent validating the timesheets of various employees. By incorporating Leave Management Services, businesses can save money on their human resource department.
Because they charge based on the number of employees, all of the most recent attendance management software are cost-effective and incredibly cheap for small and medium businesses. As a result, these systems are a one-time investment for aspiring entrepreneurs interested in long-term plans. Existing businesses can use these tools to keep track of their progress.
More than one out of every three-time tracking system is outdated, thus an attendance and leave management solution is needed. This current software is necessary for any developing firm, whether it’s to eliminate human errors in registers or to avoid time thefts. Make it simple to keep your workers on their toes. Employee Leave Management systems provide useful information for making good business decisions and improves overall work efficiency.
TopSource Worldwide offers a comprehensive set of Leave Management Services that enable you to hire and pay employees in a timely, consistent, and compliant manner – both locally and globally, depending on company needs. The systems and processes are tailored to work with your technology, and our operations are backed by decades of experience and a proven track record of success.