Biometric time clocks are one of the latest developments in timekeeping technology. The clocks require employees to scan a fingerprint to clock in and out when they arrive at work and leave. By being highly efficiency and accurate, biometric time clocks save your company money in at least three ways.
The first and perhaps most obvious way in which biometric time clocks save your company money is by eliminating time theft. When employees are required to use their fingerprints to clock in and out of work, there is no potential for fudging a time sheet. Biometrics are perfectly accurate every time.
Second, using a biometric time clock reduces your administrative workload, possibly eliminating the need for an HR position devoted to resolving time clock issues. With the biometric time clock, no administrator has to deal with missed clock-ins and clock-outs, forgotten passwords, lost or misplaced ID badges or any other faulty identification system.
Finally, beyond the initial investment of software and biometric readers, a biometric time clock system requires no ongoing material investment. With a traditional punch card or ID badge system, you must continually buy more cards or badges as you add employees or existing employees require replacements. This expense does not exist with a biometric system.
By preventing time theft, freeing up administrative time and eliminating the need to invest in supplies, biometric time clocks save your company considerable money. The amount you stand to save by eliminating inaccuracy and time theft alone, which the American Payroll Association estimates at 5 to 10 percent of the total payroll cost, is enough to pay for the system upgrade.