The time clock has long been considered an outdated and old-fashioned way to record working hours. However, in recent years, interest in time clocks has revived, both in Sweden and internationally.
According to a study by the consulting firm EY, 40 percent of Swedish companies plan to invest in time clocks or similar systems in the next two years.
There are several reasons for the resurgence of the time clock. One of the main reasons is that time clocks can contribute to streamlining the payroll process. When working hours are automatically recorded, the risk of errors and incorrect salary payments decreases.
Time clocks can also help employees keep better track of their working hours. With a time clock, employees can easily see how much time they have worked and how much vacation they have remaining.
Another factor contributing to the comeback of the time clock is the growing trend of remote work. When employees work from home, it is important to have a system for recording working hours.
Finally, the increased popularity of the time clock may also be due to the increased control over working hours required by legislation. In Sweden, employers are obligated to record the working hours of their employees.
Different types of time clocks:
- Time clock with fingerprint/RFID – offers the highest possible security for companies and personnel who want to ensure that the correct time is recorded.
- Mobile time clock with WiFi locking or GEO-fence – enables traveling workers to efficiently record their working hours while maintaining high security.
One of the main reasons for the resurgence of the time clock is its integration with cloud-based personnel systems. This combination allows for automated time registration, saving valuable time for both employees and employers. Previously manual reporting processes are now replaced by fast and error-minimizing technology.
According to studies from the Society for Human Resource Management (SHRM), implementing a time clock connected to a cloud-based personnel system can save companies up to 10 percent of payroll costs. This underscores the economic benefit of introducing such technology, where the automated payroll process quickly becomes an investment in increased efficiency.
