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Platinum Group News and Views

Platinum Group News & Views

    Advantages to Implementing a Time & Attendance System

    by Michelle Fleckner
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    Save Time and Improve Accuracy

    Taking employee attendance and tracking hours is a tedious, thankless job. It takes hours of time, messy paper work and is not the core responsibility of HR or management. They would rather be focused on core issues moving the company forward, handling complex benefit process or recruiting the top people possible. Instead, many are forced to spend their time tracking employee hours to make sure nobody improperly reports hours. Fortunately, there are now automated systems that make this process dramatically easier. These software and hardware systems improve productivity and reduce costs. There are key benefits to these systems.

    Cost Reduction

    First and foremost, automated attendance systems radically reduce costs. According to some studies, companies spend $1,600 less per employee per year with these systems in place. Most companies that implement systems are able to recoup costs within only a few months. That makes the repayment equation on these items extremely positive.

    The cost reduction comes primarily from two sources. Firstly, it eliminates time theft (whether intentionally or not) by employees that misreport their hours or clock in without working. Secondly, it eliminates the human error from HR personnel that misreports. Instead, these are automated through software and hardware systems that do not make mistakes.

    Employee Satisfaction

    Employees want to feel that they and their colleagues are being treated fairly. When they know that their co-workers are engaged in time theft, it makes them extremely disgruntled. They will either report their colleague and cause a rift, copy their co-workers in additional time theft, reduce productivity to account for the difference or stew in anger and remain disgruntled. None of these scenarios is a happy outcome. Automated systems completely eliminate this problem and improve satisfaction.

    Similarly, HR and management will be much happier because they will be devoting their time to more important issues. They no longer have to track hour by hour, and will have a computer system performing the entire task. That makes them much happier and more satisfied.

    Compliance

    Management, accounting and the legal team all want to know that workers are properly paid and accounted for at all times. They need to be able to have a track record that is easy to audit and study. In the cases where regulators or legal issues arise with employees, these records are easy to uncover and held electronically so they cannot be lost. 

    If the company and the employee have a direct dispute, these records may be invaluable for each party. For example, if the company wants to terminate an employee for showing up late or not arriving at all, they will have access to all of the records of the employment. They can document with great detail every time the employee arrived for work and how long they stayed. Rather than an open dispute that lasts for months, this might be an open and shut case relying on transparent records.

    Scalability

    In the past, adding new employees meant adding more HR and management to monitor them. Each additional employee required another layer of costs to make sure they were doing their job and coming in on time. This led to slower growth in workers, lower productivity and lower profits due to all of the additional costs.

    While each new employee still comes with additional costs, automated attendance systems dramatically reduce those costs. Far fewer people are needed to monitor each worker. Instead, they are set up with a system and told to go to work. If they do not meet expectations, that is easily discovered. This allows companies to scale up much quicker and add more workers when necessary.

    Platinum Group is a full service human capital management (HCM) resource that allows businesses to manage their payroll, benefits compliance, track time and attendance and other various human resources functions in a way that maximizes efficiency and eliminates redundancies with the platform, iSolved. For more information about Platinum Group or to schedule a demo of iSolved please visit our website.

    Be sure to check out Platinum Group's free Human Capital Management and Business Enrichment Webinar Series. This webinar series will feature local and statewide professional experts offering valuable insight into successful business practices. Our featured webinar for this month is "What to Know Before You Grow" presented by Sabrina Presnell Rockoff - McGuire, Wood & Bissette Law Firm. This webinar is designed to help employers avoid some of the most common mistakes for growing companies in the human resources arena. 

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    Platinum Group is headquartered in Asheville, NC with locations in Charlotte, NC; Greensboro, NC; and Durham, NC.

    Time & Attendance Payroll & Human Resources

    Michelle Fleckner

    Michelle Fleckner

    Michelle joined the team in 2017 as VP of HCM Solutions. Her interest is in helping companies identify areas where streamlining and automating would benefit their HR & Payroll departments. Her strengths are organization planning, revenue generation, customer retention & business process automation.

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