Vancouver, WA (PRWEB) May 5, 2004
Most employees would be startled if they were accused of "time theft" - but the amount of time wasted or reported improperly by the average employee adds up to a significant amount over the course of a year. Consider this short list of infractions that are usually not given a second thought in the workplace:
Employee time rounding -
According to studies on this sort of thing, the American Payroll Association reports that the amount of time companies lose to employees who come in a few minutes late or leave a few minutes early (or take long lunches and breaks) adds up to over 10 minutes per day for an average employee. Now granted, that doesn't sound like so much until you consider that it totals over 2600 minutes a year, or 43 hours of lost work time per employee! Add that up using whatever wage rate you are paying times the number of employees on your payroll and it isn't difficult to see that if there were a way to correct this, there is an immediate savings to be had.
Buddy Punching -
When employees punch the clock for tardy or absent co-workers, commonly known as "Buddy Punching", the employer winds up paying big bucks for absolutely nothing! For most industries, the cost of labor is the single most expensive investment. Not many businesses can afford to pay for employees that aren't there and aren't producing.
Manual Calculations -
Manually calculating time card totals is not just tedious, it can also be very error prone. With an automated time and attendance system, accuracy goes to nearly 100 percent. Some companies prefer to continue to use the bottom line total as reported by the employee, but now take the additional step to validate data using a time and attendance system.
Bottom Line is that it all adds up -
To see what your company is probably overpaying on payroll, try this: http://sundialtime.com/cost.asp - an online "Time and Attendance ROI calculator". In addition to the trouble areas already listed above, this calculator will also include two other key areas of potential savings: time card auditing, and human error savings. You might wonder why human error is held against the employer rather than the other way around. This is a simple phenomenon - employees tend to get any errors against them fixed right away, while errors in their favor tend to get overlooked. The other reason is that there are complex rounding and overtime rules that help trim extra costs for the employer if they are used, but without a time and attendance system to catch the instances where these rules apply, it is quite difficult to . With a time and attendance system it is taken care of automatically.
But will the employees like it?
Surprisingly, yes. Improved morale can be hard to calculate into dollars and cents but the better employees will always feel better about the fact that their peers are no longer able to use liberal "employee rounding" and inaccurate self-reporting. Everyone knows they are on equal footing and the resentment that often can build up unawares over these kinds of things between employees diminishes or disappears altogether.
Tackling Time and Attendance -
Once you've done the math and your company is ready, you'll need to select a time and attendance system, from solutions such as Sundial's RealTime, $99 (http://www.sundialtime.com), an enterprise solution such as Kronos (http://www.kronos.com), or a web based time entry system like Journyx (http://www.journyx.com), to name a few. Be sure to choose a company with excellent support and reputation, and make sure they are going to deliver a system that lets your employees work the way they do now, rather than trying to bend the way they work to fit the system.
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