Are your hourly, remote employees math wizards? They may realize that padding time cards by a few 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. If you’re researching how to start a business, you should learn this now.
The Math Behind Padding Time Cards
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.
Crush Time Theft and Eliminate Padded Time Cards
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 employee time clock app. Employees hit GO and STOP to create accurate time cards with a GPS stamp. Employees can also clock in by calling a toll-free number from your customers’ landline phones.
You can stop employees from padding time cards. We’ll give you 30 free days to try it out.
You need to sharpen your math skills to count the money you’ll save.
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