For something like employees you're probably going to see a lot of text no matter what. Why not just list in times and out times, sorted by time?
John Smith in 7:30
Mary Anne in 7:30
John Smith out 4:00
Mary Anne out 4:00
You could color-code in vs out. You could also break it down to 5 10 15 or 30 minute increments for sections, though i'm not sure what the value would be. Maybe faster visual reference?
Do something like this for a "day" view which can be drilled in from week/month, etc. While you're at it you could easily create an employee schedule view that could be a little bit more graphical.
Edit:
I suppose the above doesn't address your question so much as it exemplifies what you can do with the data once you have it.
For scheduling you could create a pretty basic form comprised of a sort of lookup/autocomplete field for the employee name, and a date field and 2 time fields (in/out). If you use something like jQuery dialog, you could insert these schedules directly from any other schedule view to help you see what you're looking for. You could pretty easily fit 7 columns wide of lists of in and out times to represent a week in sort of a "spread" view. You could have options to page by week or by day. In paging by day you would have sort of a rotation capability, which might be handy if the end of one week can impact the beginning of the next.