Employees are the biggest asset of a company and the biggest investment as well; they are a financial investment for the company, but for the HR department, it is the direct investment of time and energy. The HR department is the one who deals with the appreciation/depreciation of these assets and thus handles the core of the company’s functioning. With these investments, the company tries to make sure that they get an equal return on it, which means that they ensure that they get the accurate amount of productivity from their employees. There are different factors which contribute to this, and one of them is the working hours that the employee spends in a month/pay cycle.
Time leakages or inconsistency in the attendance cycle of an employee may result in cases where the work output is only dependent on the integrity of the employee, who may choose to abuse it. Without an accurate understanding of attendance data in the organisation, it is not possible to determine the true labour costs – a definite loss for the organisation.
Most companies have specific hours/days of the requirement that they expect from their employees. Earlier, while there used to be punching in and punching out, it used to be quite a tedious task to keep a manual track of these things. While every field is getting more and more technologically advanced, this requirement has an automation solution too. These solutions are softwares called Attendance Management softwares, which stores attendance data of employees.
For this software to work, there are features like biometrics and punching cards, which help in storing data of the working hours an employee spends for the company. And in return this lets the company keep track of the return on their investment of the payroll.
This also benefits the employee in a way that they can keep a track on the number of holidays and working hours for the company. Since most of the companies have specific holiday allowance, the employee can be kept informed of these records through the system so that they can manage it better.
Some of the other benefits of using software to manage employee attendance are:
- Reduced time and effort in manually updating and tracking of employee working hours records
- The entire leave system is automated in this software and thus reduces the workload on the HR department
- Employees can log into the software and can keep track of their attendance and do not have to contact the HR for attendance queries
- You can get attendance status of any employee with customised results provided by the software
- These softwares can also be collated with any payroll software for automated calculation of holidays and considered for the pay cycle
Most of these softwares can also be customised to the requirements of the company and thus make it extremely convenient for them to use. Some of the top software for attendance management are Zimyo, Zoho, Keka, Timelabs professional, Peopleworks and Qandle. The right and trusted managing system can ensure that the work is delegated to the software to take care of and that every payroll is utilised to its maximum for the company to make the most of its investment.