Tracking time online can save a business thousands of dollars per year, depending on the size of the company. Let’s take a look at an example.
Say you have an employee that makes $10/hour. One week that employee pencils in an extra ten minutes on Monday morning’s timecard because she was stuck in traffic and then rounds up 10 minutes on Wednesday because she slept in. She just cost you your morning latte. No big deal, right? We buy people coffee all the time. But the story rarely ends here.
Not only will this employee continue to pad her timecard but so will the rest of your crew. If you have five employees averaging $10/hour, adding just three minutes each day on the way in and three minutes on the way out, you are paying each of them for an extra half hour per week. That’s just over two hours per month.
For all five of your employees, you are paying an extra $100/month or $1200/year. And then of course there are the other costs like calculation errors and the time it takes to prepare payroll manually.