5 Timekeeping Errors That Could Be Costing You

Kendrah Wick
9/26/18 11:07 AM

 Common timekeeping errors

Timekeeping is an essential part of the workforce. Shift work, part-time and full-time employees, your bottom line is effected by the time your employees spend being productive in the office. But how that time is collected and calculated also effects your bottom line. If you are manually keeping track of employee time, you could be costing yourself more than saving. Below are the most common manual timekeeping errors that have far-reaching implications. Are you making them?

Human error can affect your timekeeping1. Human Error:

Yep. We aren't perfect. We make mistakes, and while some are harmless and insignificant, some can cost you. Transposed numbers, incorrect data entry, misread or misinterpreted time-sheets- you name it, these errors can add headache and havoc.

2. Buddy-punching:

Management generally encourages employees to make friends and get along for the sake of morale and production. However, those relationships can foster a few issues- like buddy punching. Perhaps one employee is punching out for another or covering for them and you are paying out for hours not technically worked. This can add up and turn into a major issue without regulation.

Rounding up on time could be costing you3. Rounded time:

When manually reporting time, it's more than likely that your employees are rounding to the nearest whole or half hour. Each week, you could be paying out on 5 or more hours of non-work time just from rounding. 

 

4. Incorrect overtime calculations:

With rounded time, employees may be reaching overtime hours more frequently. That means, aside from paying out on hours not worked, you could be paying time and a half on hours not worked. Overtime issues have become somewhat of an epidemic. Employees want it for the hefty paycheck but aren't necessarily putting in the actual hours to make that overtime productive and worth it. 

Manual scheduling can be complicated5. Appropriate scheduling:

Companies have all different types of scheduling configurations- full time, part time, contracted, out in the field, swing shifts, etc and each schedule type can have different recording methods. Some of those methods can be hard to calculate manually and this can cause errors, as well as force companies to use a schedule that doesn't really work for them.

Timekeeping automation is a great way to eliminate all of these errors. From punching, security, scheduled hours and calculations, an automated process takes all the guess work and human error out of it. For more information on affects of timekeeping errors and how automation can help, download our infographic:

Download My Infographic

 

Subscribe by Email

No Comments Yet

Let us know what you think