Save this amount through automation by eliminating the human error that goes with processing payroll from spreadsheets or paper time cards. The APA reports an error rate of 1 – 8% of total payroll in companies that use time cards or time sheets. We used a 3% error factor for this calculation.
Overpayment (Minutes per employee, per workday really add up!)
Late arrivals, long lunches, and early departures cost you time and money, paper time sheets and spreadsheet costs add up fast. According to the APA, the average weekly “theft” of time is 4 hours and 5 minutes per employee! (49 minutes per day per employee in a 5 day work week.)
The calculated savings do not account for any overtime pay. Savings are drastically increased if you are paying overtime on estimated time worked.
How much of your time is wasted every payroll trying to read and reconcile employee time worked? The HQ Platform can streamline the payroll process.