It’s Time to Cut Your Losses

by | Oct 9, 2018 | Time Management

reduce labor costs Germantown

Are you using a manual employee time and attendance 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 time card estimation. How accurate is memory? When associates forget to punch in or out and have to log missing punches on their time card several days later, do you think they guess punches in your favor? Can you remember your start and end times 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 guesstimate 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 $7800
  • $10.00/HR $8667
  • $11.00/HR $9529

What could you do with an additional eight grand a year? Purchase new equipment? Offer additional training? Boost advertising?

The Solution
Workforce Management Suite includes TimeWorksPlus, a cloud-based time and attendance solution that makes reducing labor costs easy. As your employees log 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 results in unnecessary overpayment. 

Let us show you how TimeWorksPlus can help your organization. Call today for a demo!

 

Contact Absolute Payroll Inc for information regarding WorkforceHUB™UPGRADE TODAY

Absolute Payroll Inc offers WorkforceHUB™, the unified Human Resources portal that makes it easy to optimize the performance of your supervisors, employees, and organization.

WorkforceHUB™ includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. We’ve just added onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB™ is developed 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 Absolute Payroll Inc ROI Calculator.

We can get you up and running with Workforce Management Suite in minutes. Contact us today to book a demo.

ArticleID 7345