Time theft can occur in your business when you pay an employee(s) for work they either have not done, or you pay them for time when they were not on the premises. With the growing remote and mobile workforce, time theft has become a much bigger issue for employers. In fact, it has become so big, millions of dollars are being lost every year in productivity. Some other businesses are using factoring invoice companies to pay employees who have cheated the system. This puts a dent in cash flow by paying for work that was not completed.
The days are gone when managers kept manual journals of employee time and attendance to calculate hours worked. These antiquated ways of measuring employee time and attendance do not have the ability to efficiently prevent buddy punching or time theft. Therefore, more companies are looking for a better solution to measure employee working hours and discovering that a biometric time clock offers a more secure alternative to manual timesheets.
A biometric time and attendance system is the automated method of recognizing an employee based on a physiological or behavioral characteristic. The most common biometric features used for employee identification are faces, fingerprints, finger veins, palm veins, irises, and voice patterns. When an employee attempts identification by their biological traits, a biometric hardware device compares the new scan to all available templates in order to find an exact match.
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If you have identified employee accountability as an issue for your business, you may have already taken measures to find the source behind the problem. Most likely, you have looked into the effectiveness of your leadership, the clarity of your strategic direction, employee engagement, and the execution philosophy of the firm. You may have also studied your employee monitoring and review system. Chances are if you took this step then you probably studied what technology you are using to help keep the gears of the business machine operating. If you suddenly discovered that you are not using modern technology to safeguard your inventory and profits and more effectively track employee time and attendance with a biometric time clock, you may have uncovered a crack in the shell of your staff accountability platform.
Improving employee efficiency is key
A lot of organizations have abandoned the typical 40 hour work week as the standard that we live by, which makes sense. Most employees work longer hours than their ancestors as consumer choices continue to exponentially multiply and pressure increases to boost revenues and remain competitive. Increased work hours do not necessarily mean increased efficiency though. Conversely, an increase in work-hours may sometimes have a negative effect on employee efficiency.
The question then becomes: How can you improve employee efficiency when work hours increase? Here are three ways to improve employee efficiency and productivity:
Managing employee time and attendance is a vital part of any businesses and since it is directly associated with measuring productivity, weaknesses and vulnerabilities could have serious negative consequences to the bottom line. Productivity declines that impact profits force companies to look for a more secure, accurate, and cost effective way of managing employee time and attendance. Often times, the answer to increasing employee productivity can be found through the use of a biometric time clock.
Although there is very little argument regarding the security and convenience of using biometric time clocks, many people question the cost effectiveness of this cutting edge technology. In today’s post we will discuss why we think integrating a biometric time clock for employee time and attendance saves you money. Continue reading →
Biometric technology plays a vital role when it comes to workforce management by providing a foolproof mechanism to accurately track employee time and attendance and process payroll. Biometric time and attendance systems have become more of a necessity in environments such as manufacturing plants, transport and distribution, retail operations, corporate management, schools and universities, government offices – essentially, nearly all workforce environments.
A lot of organizations are implementing biometric workforce management systems to eliminate employee time theft. Biometric workforce management systems can be configured with a variety of hardware modalities including; fingerprint, finger vein, iris, facial, and voice recognition and are easily integrated into workforce management software. The use of biometrics for employee time and attendance has the potential to pay multiple dividends to employers including the elimination of altering manual time sheets that can lead to productivity losses.
Fraudulent time and attendance activities are a common phenomenon throughout the world. According to the Kentucky CPA Journal, time and attendance fraud costs U.S. employers more than $400 billion per year in lost productivity. Fortunately, technologies such as fingerprint time clocks are now available to prevent these kind of deceitful activities. Many governments and corporate entities are implementing fingerprint technology to ensure proper employee attendance tracking. Today we are going to discuss this technology and its role in eliminating employee attendance fraud. Continue reading →
Efficient payroll processing is a vital part of any businesses and since it is directly associated with employee compensation, system weaknesses and vulnerabilities could affect accuracy. It is important to understand that payroll involves more than simply compensating your employees for the time they have worked, and inaccuracies may lead to unnecessary payroll expenses. That is why many businesses worldwide are moving to implement biometric technology to establish more accurate and efficient payroll processing. Continue reading →
Companies utilizing biometric time clocks to track employee time and attendance are not just the stuff of sci-fi movies anymore. In fact, biometric fingerprint readers have been incorporated into everything from employee time clocks to personal cell phones. Biometric technology offers users higher levels of security and a convenient way of identification that is simply not found with other identification methods. Continue reading →
More businesses are considering adopting biometric technology with their workforce management software. Fingerprint, finger vein, and palm vein biometrics are getting more attention around the world as viable biometric modalities that can be used for individual identification in different areas such as: Identity management, Employee time and attendance, Point of sale access etc.
Biometrics for workforce management is a rapidly growing trend not only to increase identification accuracy and security but also to ensure employee accountability, increase productivity, and boost business profits.