Time and Attendance Should be the First Step in Growing Your Business
Switching from a manual to an automated time and attendance system sounds like a daunting process, but BASIC makes it extremely easy! Statistics show that employers are losing valuable hours of the workday, making costly mistakes, and inefficiently managing their labor workforce. Time and Attendance is important to monitor to not only set businesses up for success and growth, but also stay on the right side of the law. Here are just a few common and costly mistakes businesses make with manual input forms of timekeeping:
Human Error Can Be Costly
Nobody is perfect, not even if they have every tool available to help them succeed – human error is inevitable. The APA estimates that the rate of human error in time card preparation and totaling is between 1% and 8%. Therefore, a conservative 2% error rate on a $12,000 payroll would equal $240 in erroneous wages.
Wasted Labor Minutes Add Up
Did you know that just 15 employees receiving pay for merely 4 minutes of “wasted” time per day due to untracked breaks, extended lunches, over-approximated punch times, etc. will total 1380 minutes (23 hours) of additional pay per month?
Manual Time Card Totaling Can Cost You Hours
The average payroll clerk spends 7 minutes per time card each pay period. Preparing 100 time cards will take an estimated 11.67 hours to complete. Therefore, at an average clerical wage of $15.00 per hour, time card preparation would cost $175.05 per pay period.
It all adds up, but by using one of BASIC’s automated time and attendance systems to eliminate error costs and save significant amounts of your time, you’ll set your business on the path towards growth. Our integrated timekeeping package offers solutions for all types of businesses. Whether you make use of the traditional badge swipe or your employees clock in from their PC, you can enjoy a solution that makes managing your labor efficient.
Check out BASIC’s Timekeeping Solutions here!