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Time and Attendance
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If you're still using a manual punch clock and time cards to keep track of employee hours then you're behind the times. Modern time and attendance systems automate the entire process, using computer systems to track employee hours.
With computerized time and attendance systems, employees clock in and out using technology like badges with barcode scanners, radio frequency identification tags, touch-screen terminals or biometric terminals that rely on technology like fingerprint or facial recognition. The computer keeps track of hours worked and automatically calculates wages based upon each employee's hourly rate.
Time and attendance systems help ensure compliance with labor laws, improve workforce productivity and control labor costs by reducing errors. They also make life easier for your employees by allowing them to keep track of hours, check work schedules, request time off or keep track of vacation time.
About Time and Attendance Systems
There are two basic components to a time and attendance system: hardware and software.
Hardware refers to any electronic equipment you need to get the system up and running, including clock-in devices like barcode or biometric scanners. These are generally placed in the entryway to the building or a particular work area to allow employees to clock in as soon as they arrive.
Time and attendance software records, organizes, stores and analyzes information about your employee hours. When an employee clocks in and out, the software keeps track of that information in order to calculate wages. You can opt for on-premise software that is installed on your computers and servers or web-hosted software that is managed by an outside service provider.
Time and attendance hardware and software can usually be integrated into the computer systems and equipment you already have.
Time and Attendance Systems Average Costs
Time and attendance systems are surprisingly affordable. Small companies can get into a basic system with an investment of $1,000 or less. Basic time clocks and software for companies with fewer than 25 employees can be purchased for $500 to $750.
More complex software and equipment with features like employee scheduling and payroll integration run anywhere from $2,000 to $4,000. These systems are usually best for companies with 25 to 150 employees.
Large companies can expect to pay anywhere from $10,000 to $100,000 or more for on-premise software and equipment that manages all time and attendance functions. The price depends largely on the number of employees.
If you opt for web-hosted software, upfront expenses will be much lower. You'll likely pay a small down payment of $500 to $1000 and a monthly fee of $30 to $100 for smaller companies. Hardware such as biometric time clocks can be purchased for about $500 to $1,000 each or they can be rented for a monthly fee.