Do you know that organisations lose approximately 4.5 hours per week to time theft per employee? Another study by the American Payroll Association suggests that 75% of organisations lose money due to “buddy punching” which is one of the most common types of time theft today. Other types of employee time theft include extended breaks, late starts and early finishes, doing personal activities during work hours, unauthorised overtime, etc.
Having an automated attendance and leave management system like TimeCentral can help organisations address the challenges of unscheduled time changes and leaves. It is a powerful tool to manage employee timesheets while minimising errors in the daunting manual process and ensuring accurate payroll processing.
Here’s how a technology-based attendance and leave management system can add value to your organisation:
Minimise the Hassles of Managing Bulk Paperwork
Employee timesheets and leave applications may end up in bulk paperwork – leading to discrepancies, lack of control and inaccuracies in payroll calculation. A robust and intuitive employee attendance and leave management system that integrates with your payroll system can help eliminate significant time and effort managing useless paperwork.
Automation aids in employee self-service, allowing time tracking and applying for leave through a web browser or mobile application 24/7. A biometric attendance system enables accurate attendance capturing, facilitating seamless and precise payroll processing. Employees can check-in their attendance from any location or work on a remote project. Additionally, applying for leaves and getting approval in a jiffy.
Manage Leaves Efficiently
Leave management is an important HR compliance that all organisations must adhere to. But when it comes to managing leave applications for a large number of employees, the task can be cumbersome and error-prone.
TimeCentral attendance and leave management system helps HR teams to set up leave policies, leave groups, workflows, unlimited approvals and ensure compliance. You can monitor approved and pending leaves, and integrate the information into your payroll for accurate calculations. Thus, you can minimise employee dissatisfaction by maintaining transparency.
Unscheduled day-offs, late comings, buddy punching, and other issues with punctuality and leaves result in fraud. If not addressed, these can cause substantial financial losses to your organisation. An efficient attendance & leave management software helps improve attendance monitoring and prevents data breaches, thus, improving HR efficiency.
TimeCentral is a feature-rich, intuitive, and AI-enabled attendance and leaves management system that seamlessly integrates into your HR and payroll solution to improve efficiency, reduce cost, and boost employee satisfaction.