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The old days are gone when managers used to keep a manual trail of employees time and attendance. Today, organizations are utilizing a lot better solution to keep an accurate track of employees’ working hours knows as biometric time clock system.
The biometric time clock is termed as the new wave of the future as it involves the fingerprint identification as one of its most prevalent features. This time clock system is not only famous for its innovative technology but also for a great many benefits which it has to offer.
For your better understanding, here are some major reasons behind for the rise of this time clock system in many organizations.
The system provides automatic and accurate reports about employees schedule and working hours. Since the system identifies the physiological attributes of a person hence such records are free from forgery or any sort of duplication. This provides managers an advantage to keep a track of employees at all times and without having to manage the complex task manually.
Biometric time clock system prevents frauds and the risk of production loss. An organization incorporating this system remains free from any fraudulent activities such as buddy punching which costs millions of financial loss every year.
This innovative time clock reduces or eliminates the time theft. Since many companies lose a significant amount of working hours just because of employees, wasting 15 – 20 minutes every day. If you can calculate this lost time, and evaluate its impact on the bottom line, you can save your business from a major financial loss.
This system is also effective in monitoring remote employees. The technology can easily be integrated with internet or mobile device and this enables employers in keeping track of employees in remote places, even if they are at the other end of the world.
A biometric time clock system makes the employees accountable for their actions. Data gathered from these time clocks establishes a great audit trail of attendance and time records. As the employees become more responsible and accountable for their performance, they tend to react differently towards their work management.
The system helps in improving the overall business productivity. Since employees who work in a well-developed and professional environment are more satisfied with their working environment which make them perform well and increase the overall business productivity.
It helps in raising the company profits. This happens as the employees perform well and increase productivity (as discussed in the previous point). Hence, increased productivity is equivalent to increased profits. Moreover, organizations with time clock system in place do not lose money on a manual system of reporting. Also, the more accurate tracking help them saving money which may otherwise be lost because of labor or payroll fraud.
Nonetheless, this time clock system has introduced itself at a perfect time, relieving managers and HR from tedious manual jobs of tracking employees for long hours. While the technology help reducing labor cost and increasing profitability, the employers seem to have all the solid reasons to fully embrace this innovative technology right away.