Time clocks have been around since 1888 when Willard Bundy invented the first time clock, and they have evolved into the biometric time clocks you can find today. With over 100 years the "time clock" as we know it has had a few different names such as clock card machines, punch clocks, time recorders, swipe clocks, badge clocks and even the modern day biometric time clock. The main purpose has always been to track employee's time in the workplace regardless of what the time clock was called.
The modern day workforce hasn't changed much with efficiency of employee's time on every owner and managers mind. Luckily, the way we track employee's time has changed. With modern computers entering the workforce, we have utilized their technology to track every aspect of the workforce including job costing and can report on the detailed breakdown of cost information. These time and attendance software solutions are now main stream, and with the economy in the turmoil, it's no wonder that every company isn't using a modern time clock software solution.
Many companies with hourly employees are still using an old fashion punch clock that could have been found in the 1970's to track the employee's time. With this limited knowledge of their employees time and possibilities of buddy punching existing companies are having to find another way to make their workforce more efficient or let some of their employees go. If companies can evolve into the information age and use a time and attendance software system to track their employee's time, they can now be more efficient with their employee's time and labor cost to get the return on investment they require.
With technology, other features are also included. The concept of "Punch to Paycheck" is becoming more common. Many labor hours are spent adding up the time cards, calculating overtime, and then processing them for payroll. This sequence is now much easier with a time clock software
system. Though the same, the software will do all the pay policy calculations that were once done by hand, eliminating labor hours to add the time cards totals and eliminate human error. Workforce scheduling, leave request, employee time cards reports, and job costing are some of the other great benefits of these workforce management solutions.
Time clocks were created to track employee's time. This is something that has continued on to today and will for many years to come. How we do it may have changed, but as you can see the reason is still the same. Many companies are finding themselves financially hurting and looking for a solution. Though their current solution may work, they may need to ask themselves, "how can the workforce be more efficient, and what would that mean to the bottom dollar?" In a fast paced world, one equation hasn't changed: time equals money.