Are your hourly, remote employees math wizards? They may realize that padding time cards by a few unnoticeable minutes a day add up in the long run. This slight exaggeration won't amount to Kardashian money for each employee, but the compounded effect will crush your business. Let's do a short math lesson.
Do you want to ensure that your employees are always at the job site when clocking in?
Here's a math problem for you. Your employees arrive at work at 6:02 pm and leave at 8:57 pm, but their handwritten timesheets always show as 6 pm to 9 pm. So, what's the big deal about five minutes?
At $14 an hour, padding time cards by only 5 minutes a day comes to $303 a year. For part-time hourly employees, that's a free week of pay just by padding their time cards. Are you going to catch five padded minutes a day while juggling 22 other balls?
And what if time theft happens across the board? Since we're already doing math, let's do a little more. Take a look at the consequences of 20 employees padding their time cards 5 minutes a day.
Are you thinking about the vacation you couldn't afford last year? Oh, and add to that the payroll taxes. The snowflake rolls into a snowball at 5 minutes a day. However, the American Payroll Association and the Robert Half Agency show that the accurate time theft number is closer to 10 minutes a day. That's an avalanche.
On the flip side, don't let padded time cards tempt you to mismanage the time cards. Time card mismanagement will create an even worse problem.
But there's a better way.
Go ahead and plan your vacation for next year. There's good news. Your employees have an easy-to-use, accurate time clock in their pockets. Your 17-second solution to crushing time theft and controlling labor costs is our GPS employee time clock app. Employees easily clock in to create accurate time cards with a GPS stamp.
You can stop employees from padding time cards. We'll give you 14 free days to try it out.
You'll need to sharpen your math skills to count the money you'll save.