Every HR software package uses the system of time and attendance tracking to accurately calculate the number of working hours a company needs to compensate an employee for. In contract to the manual process still used to track an employees working hours by some companies, this process not only helps save time, it also ensures that the HR department is able to:
- Keep up with full or partial leave requests,
- Ensure proper absence tracking,
- Properly plan the upcoming weeks based on the attendance information,
- Export individual employee information for better disbursement of salary and
- Ensure employees are accurately and adequately compensated for the number of hours they have put in.
2 fundamentals of time and attendance tracking
In order to ensure that the payroll software is actually working, it needs to be able to accurately keep a track of:
- Absences: Just as it is important to keep a track of the hours that an employee puts in, the time that employees miss also need to be tracked and put into the system. This is because attendance problems also result in productivity problems, dissatisfied customers etc. Tracking absences enable employees to extract patterns with the help of the HR software so that productivity can be optimised and steps can be taken to ensure that the business does not suffer any loss, financial or otherwise.
- Time-off requests: Employees attach a great deal of importance to time-off requests. So much so that both their job satisfaction and perceived quality of life led, depends on whether their time-off- needs are serviced properly. Hence these need very delicate handling on the part of the employers so that business productivity does not suffer.
Thus the implementation of good payroll software for compensation accounting not only ensures a happy and satisfied workforce but also helps to keep the workforce motivated and enthusiastic about the work that they do, thereby ensuring greater productivity and better profits and revenue generation for the company.