Are you using a manual employee punch in and timecard system that fails to ensure the accuracy of timekeeping? If so, you are overpaying 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 guesstimate start and end times 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 team member each week can really add up.
If you have 25 employees who approximate their hours with an additional 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 a surplus eight grand a year? Acquire new equipment? Offer additional training? Increase advertising?
Workforce Management Suite includes TimeWorksPlus, a cloud-based time and attendance solution that makes reducing labor costs easy. As your employees enter 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 creates unnecessary overpayment.
Let us show you how TimeWorksPlus can help your business. Call today for a demo!
Coastal Human Resource Group, Inc offers WorkforceHUB, the Human Resources Management System (HRMS) that makes it easy to optimize the performance of your managers, employees, and business processes.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, TimeWorks Mobile, and ApplicantStack. We’ve just added hiring, onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB was developed for busy employers like you who need to reduce cost-per-hire, streamline scheduling, automate time tracking, maintain regulatory compliance, and decrease labor costs.
How much can you save? Check our Coastal Human Resource Group, Inc ROI Calculator.
We can get you up and running with WorkforceHUB immediately. Contact us today to schedule a demo.