Lost Time Savings
An automated Workforce Management Solution from Time Spot will allow you to implement and enforce fair and consistent pay policies and punch rounding. That means you won't be over-paying employees who try to punch in and out outside their assigned shift times. This chart shows the amount of money your company can save in recovered wages by not over-paying employees.
|Number of Employees||100||500||1000||5000|
|Lost Productivity Per Day (minutes)*||6||6||6||6|
|Average Overpay Daily||$0.60||$0.60||$0.60||$0.60|
|Average Overpay Weekly||$3.00||$3.00||$3.00||$3.00|
|Total Wages Recaptured Weekly||$300||$1,500||$3,000||$15,000|
|Total Wages Recaptured Annually||$15,600||$78,000||$156,000||$780,000|
* The average lost productivity per day is forty-nine minutes according to studies conducted by the Robert Half Agencies. In this example we assume only six minutes per day.