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Girl punching in with Biometric Time & Attendance ReaderLabor is one of the largest expenses an employer incurs and is controllable if the right tools are in place. Many companies proactively monitor labor costs, which can have an impact on business productivity and profit, however, it is an area that is typically overlooked. The question isn't “how proactive has your organization been in managing labor costs?”, but “how effective is your process?"

Time and Attendance systems have shifted dramatically over the years to stay in alignment with the ever-changing business landscape.  Systems have become advanced enough to provide a solution for literally every need of an organization, regardless of size and number of locations.  Automated capabilities can range from being able to zero in on an employee's time spent working on specific projects and tasks to generating an endless combination of highly customized reports and layouts.

One of the most important things in evaluating a Time and Attendance management solution is to make sure it can grow with you as your company's needs change.  Whether to save money or time, a good Time and Attendance solution can relieve you of the common error prone tasks involved with labor management.  This way you can spend more time focusing on your business, rather than working in your business.

3 Keys for Controlling Labor Dollars:

  1. Automate Time & Attendance System
  2. Keep Accurate & Accessible Records
  3. Minimize Overtime

WHAT FIVE (5) MINUTES LOST PER EMPLOYEE PER DAY COSTS YOU:

Hourly Rate Number of Employees
5 10 25 50 100
7.00 743.70 1487.40 3,718.50 7,437.00 14,874.00 
9.00 1,912.50 1,912.50 4,781.25 9,562.50 21,249.20
14.00 2,974.80 2,974.80 7,437.00 29,784.00 29,784.00
18.00 3,825.00 3,825.00 9,562.50 19,125.00  42,498.40

(Based on an 8 hour day, 5 day week, 255 working days per year)