30 May It’s Time to Cut Your Losses
Are you using a manual employee punch in and timecard system that fails to ensure the accuracy of timekeeping? If so, you are paying too much for labor. It’s time to cut your losses.
The Cost of Time Card Estimation
You can save on labor costs by eliminating timecard estimation. How accurate is memory? When associates forget to punch in or out and have to log missing punches on their timecard several days later, do you think they guess punches in your favor? Can you recall your start and end times precisely for the past payroll period? Paying for just a few extra minutes per employee each week can really add up.
If you have 25 employees who estimate their hours with an extra 8 minutes of time for which they were not on the job, you will overpay:
- $184 weekly
- $367 biweekly
- $794 monthly
If you do the math for a whole year, you can really see that you need to stop the bleeding. This is what you would overpay for three entry-level wages:
- $9.00/HR – $7,800
- $10.00/HR – $8,667
- $11.00/HR – $9,529
What could you do with an additional eight grand a year? Purchase new equipment? Provide additional training? Expand advertising?
The Solution
Workforce Management Suite includes TimeWorksPlus, a cloud-based time and attendance solution that makes reducing labor costs easy. As your employees record time on their tablets, mobile phones, or computers—or with one of our plug-and-play time clocks—you’ll reduce time card guesstimating that leads to unnecessary overpayment.
Let us show you how TimeWorksPlus can help your business. Call today for a demo!
UPGRADE TODAY
Payroll Partners offers Workforce Management Suite, the powerful, fully-integrated Workforce Management Suite that makes it easy to optimize the performance of your supervisors, employees, and company.
Workforce Management Suite includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. Workforce Management Suite is created for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and reduce labor costs.
How much can you save? Check our Payroll Partners ROI Calculator.
We can get you up and running with Workforce Management Suite in minutes. Contact us today to set up a demo.