Excel Formula For Total Of Time Worked And Hourly Rate Step by Step Guide For Developing an Employee Time and Attendance Management System

You are searching about Excel Formula For Total Of Time Worked And Hourly Rate, today we will share with you article about Excel Formula For Total Of Time Worked And Hourly Rate was compiled and edited by our team from many sources on the internet. Hope this article on the topic Excel Formula For Total Of Time Worked And Hourly Rate is useful to you.

Step by Step Guide For Developing an Employee Time and Attendance Management System

Regardless of the size of your organization, maintaining accurate employee attendance records is important—and not just because it’s the law! Labor-related costs are typically the largest expense a business incurs, so workforce management is more than about compliance; It’s also about protecting your business’s bottom line. However, designing/selecting the right type of attendance management system for your organization can be difficult… and it’s important. If you select the wrong system for your organization, you may end up spending more time and resources than you would normally need to.

On that note, we’ve created a step-by-step guide to developing an employee time and attendance management system.

Types of attendance management systems

• Timesheet

• Time clock

• Automatic attendance system

– Badge reader (swipe, proximity, etc.)

– Biometric (fingerprint, hand reader)

• Software/Internet/Mobile App Options

Step 1. How many employees do you need to manage?

Up to 5 employees

If your organization has fewer than 5 employees, you may be looking at two options for an attendance management system: a time sheet or a time clock with time cards. The lure of time sheets is one of the costs. All you have to do is create a time sheet and you’re good to go. Although time sheets meet the government’s requirement to document employees’ hours, they are easy to falsify or pad the time. A basic employee time clock discourages falsifying time records and is particularly effective in smaller organizations.

Up to 25 employees

If you have a small business with fewer than 25 employees, a time clock will (probably) be a better fit for your organization. An automated attendance system may be a better option though. As a general rule, if you are spending more than 1-2 hours per pay period on attendance management, a time clock is an acceptable time recording method for your organization. However, if you are spending more than 1-2 hours per pay period, you may want to look into an automated attendance system.

More than 25 employees

For any business with more than 25 employees, we recommend using an automated attendance system. The systems available today are robust, comprehensive and cost efficient.

Please note that all questions after the first step are to determine the right automated attendance system for your company.

Step 2. What industry is your business in?

Although this question may seem unimportant or a marketing ploy to get demographic information from you, this information is actually important in determining the right type of attendance management system for your company. Every industry has certain characteristics. Some industries require credentials; Others deal with chemicals so fingerprints are all but non-existent. A general rule for determining the correct system in step 2 is detailed below.

Interest readers

Badge readers come in handy in industries that require credentials because they can double as both credentials and attendance management tools. The media and entertainment industry is a good example. Badge readers also work well with access control systems in companies with high security. There are many variations like badge swipe, barcode scanner and proximity presence system.

Fingerprint reader

Fingerprint readers are often used in retail and business environments. Fingerprint readers are great in industries that require high security or where peer punching is a common and prevalent problem. They can also double as access control systems where needed.

Hand reader

Hand readers represent another biometric automated presence option on the market. Hand readers measure and analyze the overall structure, shape and proportions of the hand (such as hand width, length and thickness) and manage to maintain accuracy even when hands are dirty or injured. Hand reader systems are the most widely used scanning devices and can also function as access control terminals. Hand readers are often used in industries where peer punching is prevalent and where relying on fingerprints is not the best option. Industries include: manufacturing, food processing, healthcare and restaurant chains. Undoubtedly, hand readers are the best biometric option on the market, however, their main obstacle for small business is their pricing as they are the most expensive terminal options on the market.

Step 3. What does your presence system need to be able to do?

HR functions. Apart from the basics of recording/setting punches, meal breaks and breaks, good software programs should be able to cover basic HR functions. This broad category includes essential HR functions: tracking employee attendance, applying rounding rules, calculating overtime and calculating employee time and wages. It’s beyond these basic functions in software that determine whether or not it can tout a heavyweight position. A comprehensive attendance management software has the following features to look for:

Payment policies. Do you work in an industry where your employees are paid differently based on the type of work they do? Do you need to define holiday, overtime and exception rules differently? Are the pay policies/practices specific to your industry?

Schedules and Shifts. Does your company have flexible shifts or floating shifts?

reporting. What kind of report does your business need? What kind of information do you need immediately available? What can you live without?

Payroll export. This is a big one. Who pays your salary? Your software needs to be compatible and fully supported.

Voting. Who is on? What are they doing? A good software program should allow you to do this and some hardware terminals allow you to do this in the terminal itself (for example, Handpunch).

Profitability. If your organization has a policy for vacation or sick time, your software should be able to apply that policy to your attendance management.

Database backup and restore. Few of us know the pain and suffering of losing your data, but we all fear it. Your software should have a database backup and restore option. If it doesn’t, buy it.

In short, what you need is literally determined by what you need and the software that will give you the full potential and efficiency of an attendance management system. Also, while this guide will try to help you determine the right solution for your organization, it is always recommended to get expert advice from a time and attendance professional.

Video about Excel Formula For Total Of Time Worked And Hourly Rate

You can see more content about Excel Formula For Total Of Time Worked And Hourly Rate on our youtube channel: Click Here

Question about Excel Formula For Total Of Time Worked And Hourly Rate

If you have any questions about Excel Formula For Total Of Time Worked And Hourly Rate, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Excel Formula For Total Of Time Worked And Hourly Rate was compiled by me and my team from many sources. If you find the article Excel Formula For Total Of Time Worked And Hourly Rate helpful to you, please support the team Like or Share!

Rate Articles Excel Formula For Total Of Time Worked And Hourly Rate

Rate: 4-5 stars
Ratings: 5632
Views: 17816829

Search keywords Excel Formula For Total Of Time Worked And Hourly Rate

Excel Formula For Total Of Time Worked And Hourly Rate
way Excel Formula For Total Of Time Worked And Hourly Rate
tutorial Excel Formula For Total Of Time Worked And Hourly Rate
Excel Formula For Total Of Time Worked And Hourly Rate free
#Step #Step #Guide #Developing #Employee #Time #Attendance #Management #System

Source: https://ezinearticles.com/?Step-by-Step-Guide-For-Developing-an-Employee-Time-and-Attendance-Management-System&id=4886157