518-373-4111
Still using pen and paper? Here are 5 ways manual timekeeping costs your business:
1. Employee Time Theft
Manual time and attendance systems can be exploited in a number of ways from hours padding to buddy punching. Some large employers who switch to an automated system are surprised by the drop in employee hours the very first pay period. Even if you notice just a small reduction, this advantage will compound, quickly paying for the cost of adopting an advanced yet reasonably priced automated system.
2. Inaccurate or Insufficient Records
Without accurate employee hours data, it is difficult to make informed decisions about human resource allocation. This, in turn, minimizes productivity.
3. Unnecessary Admin Costs
With paper timesheets, your admin staff spends tedious hours troubleshooting timesheet inaccuracies and missing information, and then manually entering the data into the payroll system. When your HR staff can complete payroll in minutes, they are free to work on company initiatives that boost employee productivity and loyalty.
4. Increased Overtime
Pen and paper timekeeping systems don’t have built-in notifications to inform managers when associates are approaching or have exceeded their authorized hours. The larger your organization, the more unplanned overtime costs you.
5. Higher Employee Turnover
Inaccurate timekeeping and restricted access to basic information contribute to employee frustration and higher turnover. Many employers don’t realize how expensive it is to replace team members. Numerous studies have demonstrated that it costs about 20% of annual salary to replace a team member making less than 50k a year and the costs increase with higher paid employees. Do the math: for an associate making $30,000 a year, that would be $6,000.
Automated timekeeping systems allow employees to manage their time cards and monitor PTO, vacation, and other accruals without having to go through a manager or the HR department. When team members are empowered, they feel better about their jobs which generates increased productivity.
GTM’s time and attendance system is for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and reduce labor costs. How much can you save? Contact us at (518) 373-4111 for more information.
