In today’s fast-paced business world, effective workforce management is essential for organizational success. One critical aspect of this management is tracking and recording employee work hours accurately. Manual processes can be time-consuming, error-prone, and cumbersome, leading to productivity losses and inefficiencies. This article delves into the world of time clocks and how they can revolutionize your workforce management.
What Is A Time Clock?
When preparing payrolls, having accurate information on work hours logged in by your employees is very important. Unfortunately, HR managers often have difficulty determining if their employees report on time and the time spent at work.
According to a recent Deloitte study, over 30% of professionals say that manual time entry and data adjustments are two of the most time-consuming processes and automated time tracking can eliminate lost productivity and recapture more than $666,400 in yearly wages. (Acumen Data Systems, 2020)
On top of that, extracting data and generating real-time reports based on these inputs is also tedious.
Therefore, HR managers could use a time clock to track employee work hours efficiently. A good time clock should accurately and efficiently track shift start and end times when employees punch in and out.
Time Clocks come in different types. Some crucial types include the following:
- Traditional Punch Card
- PIN (Key Code)
- Magnetic Swipe Card
- Proximity Card
- Mobile or Web-based
- Biometric Solutions
How Can Time Clocks Optimize Tracking?
For marking attendance, entry/exit, and change of employee shifts, legacy systems required a trained workforce and physical verification systems. This often leads to delays during entry/exit, losing precious manhours and productivity.
In addition, human errors were expected due to fatigue and inconvenience of using these systems. With rapid strides made in Information and Communications Technology (ICT), many of the drawbacks associated with manual methods have been overcome. These modern systems have also helped improve the security and reliability of access control systems.
OLOID has the solutions to meet the access control needs of corporates and government establishments.
Why Your Organization Needs A Time Clock
Advantages of Time Clock Software
If you are still not sure of the need for a time clock for your organization, take a look at some of the impacts of the time clock software on workforce management:
Accuracy in Paychecks
Time clock systems begin by tracking when employees mark their attendance to start their shifts. Managers can generate reports and payrolls when integrated with HR and accounting systems. This eliminates the need for tracking employee work hours and attendance manually. This increases accuracy, efficiency, and productivity.
Manual processes require managers to verify entry/exit times and re-enter the data into a payroll solution. This process can be very time-consuming and workforce-intensive for large organizations, besides being prone to errors.
Also, using a time clock and attendance software thus improves efficiency, eliminates errors, and positively impacts productivity and profitability.
Higher Levels Of Security
Manual entry in timecards is prone to security breaches, inaccuracy, and proxy punching. This can never happen in a biometrics-based solution and ensures that employees are paid for actual time spent on work.
Ensuring accurate attendance times results in correct payroll preparation. Electronic means of time verification also allow employees to access their data securely. This gives employees a feeling of empowerment and increased satisfaction.
Time Is Money
Time management and tracking are vital for any business. The availability of real-time data on employee logins/logouts will assist the management in making the right decisions while making or reviewing policies. This will allow more strategic thinking and decision-making time, driving revenue and profitability.
Time clocks can alert managers, in real-time, of employees reporting late, being absent, taking too many breaks, or leaving early. Doing this manually would be impossible. This will drive compliance with the company policies and contribute to the company’s success.
Manual time entry systems are very prone to human and mechanical errors. This would reflect an employee’s pay and lead to avoidable legal implications. Thus time clocks can provide a legal safeguard in such situations.
Benefits of OLOID Time Clock
The OLOID Time Clock revolutionizes how employees mark attendance and confirm their identities. Some of the key benefits of using this system are explained below:
The OLOID Time Clock uses a contactless authentication method to capture identities through Face and QR codes in all lighting conditions.
Time Theft Prevention
A 2020 Connecteam study estimates that over 75% of the businesses in the US are affected by time theft
With liveness detection, OLOID’s Time Clock prevents buddy clocking and time theft.
- Seamless System Integration
OLOID’s Time Clock integrates seamlessly with existing HRIS systems. This helps improve productivity and efficiency.
- Eliminates The Need For Expensive Custom Hardware
OLOID’s Time Clock is a software-based product that eliminates the need for custom hardware. This cuts down on huge hardware expenses as follows:
- It works with off-the-shelf iPads
- Eliminates the need for regular maintenance and installation support
- The device easily connects to the ethernet and can be activated in minutes.
- Easy Onboarding/Offboarding Of Employees
The OLOID Time Clock seamlessly integrates with existing systems and other employee databases.
Employee onboarding and offboarding become very simple because:
- The enrolment and onboarding of users take only a few minutes
- The system offers self-enrolment and admin/supervisor onboarding options
- As per company policy, HR managers can delete and retain data after employee offboarding.
- Cuts Down On Congestion During Shift Changes
Organizational productivity and profitability suffer due to long wait times, long queues, or congestion during shift changes. OLOID’s Time Clock:
- Provides user authentication in half a second or less
- It can even work in the offline mode, in the event of internet or power outages
- Provides data synchronization, with accurate clock-in times, in the database
- Secure Facial Data Management System
The Time Clock from OLOID provides a sophisticated and user-friendly solution for identity assurance and protection and management of facial biometric data of users.
This is achieved through:
- Facial data management through regulatory compliance
- AI-trained software, fed with millions of datasets. Hence it cannot be spoofed with pictures or video playback
- Consent capture at the time of enrollment.
- QR Code Authentication For Visitor Access
OLOID’s Time Clock provides a QR Code as a backup authentication mode for employees, temporary workers, and visitors.
This is achieved by:
- Providing temporary users with a unique QR Code
- Offering seamless compatibility with most smartphones and tablets
- Ensuring a simple and cost-effective integration with most manual access control systems.
- Green Alternative To Workforce Management
OLOID’s Time Clock presents a green and sustainable alternative to plastic-based manual employee identification and management systems.
Some of the green benefits accrued from this system are explained below:
- Eco-friendly: Most systems currently in use depend on plastic card-based systems. These are non-degradable and add to the increasing environmental pollution globally. OLOID’s Time Clock is sustainable and eco-friendly.
- Easy to Install: Manual systems require trained personnel to operate and a lot of time to install and maintain. The OLOID Time Clock can be installed by existing staff without additional training.
- Innovative and Secure: Plastic access cards are cumbersome to use and carry. Their loss also poses a security hazard to organizational security. The Time Clock offered by OLOID ensures that only authorized employees are allowed access.
- Inexpensive: No proprietary hardware is involved, and hence the cost of implementation is meager compared to existing solutions by other vendors.
With the proper use of OLOID’s Time Clock, companies can increase productivity, employee accountability, and profit.
Managers and supervisors would not be required to waste precious time on daily administrative tasks of updating time-tracking records. These responsibilities would now be shifted onto the employees. The eco-friendly nature of the solution ensures zero environmental impact and health hazards.
To experience this incredible technology first-hand, book a demo today!
What is the purpose of a time clock in a business?
A time clock is used to accurately track employee work hours, which is essential for efficient payroll processing, productivity improvement, and compliance.
How do time clocks enhance security in workforce management?
Time clocks help prevent unauthorized access and security breaches, ensuring that employees are paid for the actual time they spend at work.
What are the advantages of using biometric time clock systems?
Biometric time clocks offer secure authentication, preventing time theft and buddy clocking, while also ensuring accurate tracking of employee hours.
Can time clock systems be integrated with existing HR information systems?
Yes, many time clock systems can seamlessly integrate with existing HR information systems, improving efficiency and data accuracy.
How can a time clock system contribute to eco-friendliness in workforce management?
Time clock systems reduce the environmental impact by eliminating the need for plastic card-based systems, making them a more sustainable and cost-effective choice for businesses.