Do you have a time clock like this in your office?

As the owner of a business, when it comes down to time keeping and accountability, you’re pretty much on your own.  You are the only one who really feels the pain of timesheet and time clock inaccuracies.  In fact, in a lot of organizations, employees are paid extra for adding 10-15 minutes to their time card.

When they come in the office at 8:09 they’re thinking, “I got here at 8am.” And when the clock strikes 4:45pm, it’s time to pack things up (yes, even the honest ones do this.) However, you, as the business owner, know that you pay for every 10-15 minutes your employee “fudges”.  In one shift this could be 20-30 minutes, and across the period of a month this could be 7-10 HOURS of extra payroll that you pay out PER employee.

So don’t be surprised when your employees have objections when you decide to incorporate a technology like TSheets or another honest and accurate time keeping system.  You’d have objections too if you were getting a pay cut of $1,560 a year, PLUS you had to consistently remember to clock in AND out.  (Boy, what a hassle. ;-) )

But with the $77,460.60 that you’ll save every year by bringing accuracy to your 50 employees’ time cards, surely you’ll be able to make it up to them.

The Math:

“20-30 minutes”
10 min. x 2(for clock in and out) = 20 min.
15 min. x 2(for clock in and out) = 30 min.

“7-10 HOURS”
20 min. x 5 (5 days in a working week) = 100 minutes
100 min. x 4 (4 weeks in a month) = 400 minutes
400 min. / 60 (60 minutes in an hour) = 6.667 hours

30 min. x 5 (5 days in a working week) = 150
150 min. x 4 (4 weeks in a month) = 600 minutes
600 min. / 60 (60 minutes in an hour) = 10 hours

 ”$1,560 a year”
10 hrs. x 13 (Wage Rate of $13/hr.) = 130 x 12 (12 months in a year) = $1560

“$77,460.60“
$1560 x 50 (50 employees) = $78,000
$44.95 (50 employee TSheets license) x 12 (12 months in a year) = $539.40
$78,000 – $539.40 = $77,460.60

*Photo courtesy of http://www.insightoutsight.co.uk