It’s Time to Cut Your Losses

by | Nov 13, 2018 | Time Management

reduce labor costs Wausau

Are you using a manual employee timekeeping 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 staff members forget to punch in or out and have to record 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 employee each week can really add up.

If you have 25 employees who estimate 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 an additional eight grand a year? Buy new equipment? Supply additional training? Increase 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 organization. Call today for a demo!

 

Contact Payroll Solutions for information regarding WorkforceHUB™UPGRADE TODAY

Payroll Solutions 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 decrease labor costs.

How much can you save? Check our Payroll Solutions ROI Calculator.

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

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