Time clocks can save you
piles of money!
Imagine saving over $2k per employee every year just by using a,
time clock? It’s not a fair-fetched concept. Time clocks improve
employee accountability and punctuality, protect against costly
time theft and keep productivity on track.
Keep employees on their toes.
It happens all the time – an employee gets to work a few
minutes late, takes extended or more frequent breaks, leaves
work early, or deliberately leaves work late to rack up
overtime. Whether it’s intentional or not, you end up forking
over unearned wages.
Using a time clock curtails payroll spending by monitoring
check-in and check-out times with greater accuracy, improving
employee accountability and encouraging punctuality.
According to the American Payroll Association, the average
employee is paid up to 4 “unearned” hours every week!
If you are using timesheets to record employee hours, you
may be subjecting your company to significant payroll
fraud. Time sheets are like a blank check – inviting
employees to fudge their time by filling out extra hours
they didn’t actually work, or round up their minutes to
increase their compensation.
Time clocks accurately record the start and stop times an
employee works down to the exact minute.
Save time and eliminate errors.
Manually totaling payroll hours is time consuming. Your payroll staff
spends their time rounding punches, subtracting breaks, keying in
and adding up time card information for every employee. Manual
calculations are also prone to errors. It’s easy to miscalculate
hours, round up or down incorrectly, or displace a decimal point.
It takes an average of 2 minutes to manually calculate payroll
for a single employee.
According to the American Payroll Association, errors resulting
from manual time and attendance processing can account for up to 7% of payroll costs.
Speed up the process.
Software and cloud-based time and attendance systems
save time by using quick and easy methods to collect, record
and send punches to your desktop PC or the internet.
Depending on the type of time clock terminal, employees
either enter a pin number, swipe a magnetic stripe card,
wave a proximity badge or scan their finger to check in
or out of work.
You can save even more time by installing “add-on” time clock
terminals in each department to manage large workforces or
Prevent "buddy punching".
Don’t get stung by the common type of time theft amongst hourly
workers known as “buddy punching” or “buddy clocking”. This
deceitful practice occurs when an employee asks a co-worker to
punch the time clock for them if they are late to work or absent.
19% of employees admit to buddy punching for a co-worker and
buddy punching accounts for approximately 2% of payroll.
So what’s the bottom line? Take a look at what a typical business saves simply by using a Time Clock. If you want to calculate your estimated Savings Per Employee, enter your information in the boxes below.