Time attendance systems are widely in use across the global economy. The usage of time attendance systems has gained momentum owing to the benefits accruing to business enterprises from the time rate system of making wage payments to labour. In specific verticals like real estate, construction, security and surveillance and others, it is a usual practice to make wage payments to labour based on the fulfilment of time engagements mentioned in the job contract. According to the time system wage payments are made on a weekly or monthly basis depending on the total number of hours devoted to the job. There are some questions with regard to the benefits of using time rate systems and correspondingly attendance systems. What are the benefits of using the time rate system? What are the benefits of using an attendance system? These questions need to be answered from the perspectives of economic and technical efficiencies. Take a look.Economic and Technical Benefits of Using the Time Rate SystemThe time rate system was originally developed and popularized by the expansion of British business enterprises. It is the most widely used system of making wage payments in Great Britain. Speaking of verticals, the time rate system is widely used in labour intensive verticals involving programmable functions that need to be performed on big scale and involve manning a function. Benefits of using the time system are as follows:
Time system is easy to comprehend and calculate.
Time rate system is beneficial to business enterprises that use high cost inputs to produce high quality outputs.
Time rate system has a very positive psychological impact on workers and creates a sense of job security.
System offers equality of wage payments for equal time devoted to labour. Hence it is preferred by trade unions in wage negotiations.
Time system is highly useful in situations involving exigencies at service delivery centres like hospitals, factories, call centres, etc.
Economic and Technical Benefits of Using Time Attendance SystemsAttendance systems form the core of time rate systems. In order to make wage payments to labour based on time engagements, it is absolutely necessary to adopt a streamlined and automated approach to assessing time engagements of all workers without any discrimination. The economic and technical benefits of using time systems are as follows:
Time attendance systems do not require any manual intervention from the side the management of the company. Records obtained systems cannot be disputed by trade unions and workers on grounds of discrimination, bias or partiality.
Time systems archive patterns of time engagements of all workers without threats of theft, destruction or fabrication of data. Data stored in the memory of attendance systems can be used by the management of a company to derive valuable insights on punctuality of workers. If need be, workers can be counselled.
Team leaders and supervisors can focus on the quality of work produced by the workers instead of being bothered by the necessity to manually monitor entry and exit of workers at the work place.
Lastly, time attendance systems are affordable and hardly require any break down and preventive maintenance.