Has your company ever considered an automated time keeping system for your employees? There are several factors that lead companies to choose to this type of service but the top factor is usually the “bottom line”. Along with the financial benefits others that rank at the top are the time savings convenience, the elimination of human error, and the control of Employee time theft that can add up over the course of a year. Beyond convenience, one of the greatest benefits of implementing a timekeeping system is how it can often pay for itself and the cost of payroll in annual savings. The benefits of automated time and attendance solutions are well documented. In a survey on employee time entry management by the American Payroll Association (APA), the following was revealed:
· Eliminate employee punch approximations — Just 10 employees “wasting” 8 minutes per day will total approximately 31 hours of additional, unnecessary, wages per month. Wasted minutes can result from extended lunches, approximated punch times, late arrival and early departure. Are you asking your employees to remember their punch times?
· Minimize human error— Human error in time card preparation and totaling is estimated to be between 1% and 8% of gross payroll by the American Payroll Association (APA)*. Therefore, a conservative 1% error rate on a $15,000 monthly payroll would equal $150 in erroneous wages.
· Eliminate hours of manual time card preparation — The APA also suggests the average time spent preparing and handling time cards, computing and verifying totals, and reconstructing lost or damaged time cards is five to six minutes per time card.
Choosing to implement a simple, affordable automated timekeeping solution is an excellent decision for employers. As a PEO, we are always looking for ways to improve our clients payroll process. The LLRoberts Group proudly uses Swipeclock for all our Automated Timekeeping Services. Our clients can choose several options that meet their needs including Biometrics clocks (Printreader), Web Clocks, Badge Clocks, and Voice Clocks. Regardless of the size of your company, the solutions can make your payroll process easier.
If you would like to find out if am automated time keeping system is right for you and how you can improve your payroll process, please contact the LL Roberts Group (toll free) at 877.878.6463.
