Is Time and Attendance Management Software Worth It?

There’s no denying that absenteeism is bad for business, costing workplaces up to 16% of annual salary bills. But without the right resources, how do you not only tackle absenteeism, but keep track of it in the first place?

Whether you own your own business or you’re in charge of your company’s budget, you’ll know that committing to a new software system needs to be worth your while. Spending money should offer a return on investment that means you get bang for your buck – otherwise, you’re parting with money you’ll never get back.

You might have heard of time and attendance management software with a fingerprint clocking in machine, which helps you keep track of when your employees clock in for work, as well as absenteeism.

But is a fingerprint clocking in machine and time management system right for your business? To get an answer, we’ll have to weigh up HR software pricing against the predicted benefits.

A reliable fingerprint clocking-in machine, like those from Computime, will set you back around £500. When paired with a software system that monitors shifts, attendance, clock-ins, and hours worked, you’re looking at a system that can boost productivity, reduce absenteeism, and improve employee engagement. Is it worth it financially once you factor in HR software pricing?

A clocking-in fingerprint paired with time and absence management software can help reduce absenteeism in a number of ways. These include being able to assess which employees are absent often, setting up systems to get them back to work, and giving workers the autonomy to choose their shifts through a self-service system in advance, making attendance much easier.

How important is this for a business? Looking at the facts, businesses spend up to 16% of annual salaries on absences and other research shows that absenteeism can reduce productivity by up to a whopping 50%.

These costs add up and, over time, you can end up shaving thousands of your profits yearly if absenteeism continues to affect your business. Keeping a closer eye on unnecessary absences goes a long way towards improving your profit margin, proving that HR software can make a huge difference to your wallet.

If some or all of your workforce is paid by the hour, information that’s entered incorrectly can make a huge difference to your costs. Sure, 20 minutes here and there doesn’t sound like a lot, but over time, these discrepancies can build up, until you’re overpaying employees by hundreds to thousands of pounds a year.

It’s not that workers are trying to cheat the system – it’s just that when you’re relying on old-school clock-ins or paper timesheets, people tend to forget their exact start time and round up or down.

Using a fingerprint clock-in machine, you can measure exactly how long employees have worked to the minute – no more guessing or rounding up or down. That way, your payments will be more accurate than ever, saving valuable money on inaccurate figures.

Computime offers a schedule and absence management software alongside the fingerprint clocking in machine, which allows you and your employees to get better track of their schedules, holidays, and time off.

Part of the app’s offering is an employee self-service style rota, in which employees can apply for annual leave as well as specific shifts. Giving workers this sense of autonomy can boost employee engagement, which, in turn, is better for your company’s bottom line. After all, studies have shown that businesses with more engaged employees have higher earnings per share.

Other Computime offerings, such as the ability to clock-in remotely with GPS, make it easier for employees to work from home. With 95% of workers wanting some form of remote work, being able to offer this perk is a surefire way to improve employee mood.

When less time is spent on manual timesheets, manually scheduling shifts, and having to keep track of absences the old-fashioned way, you and your team members can spend more time doing what you do best – turning a profit.

One of the biggest advantages of a fingerprint clocking in machine with the software to go with it is that timekeeping and payroll become much easier, meaning employees have more time to spend on other tasks. If you wish you could automate time-consuming, manual duties, there’s little more effective than online time management software.

If you’re looking to cut costs at your business, ensuring that you’re keeping better track of salaries/payments and only paying shift workers for the hours they clock in can yield an incredible return on investment.

By purchasing a fingerprint clocking in machine alongside time and attendance management software, you’ll not only keep better track of your money, but also be able to save some. Using a reliable system like Computime, you can streamline your time and attendance management systems, not only saving valuable money, but saving your HR team valuable time, too.