EMPLOYER REFERENCE GUIDES:
TIMEKEEPING AND LABOR SAVINGS INFORMATION
SwipeClock is a time and attendance solution for all businesses, both large and small. The system can be hardware (Swipe Clock) based or Internet based, or both.
It combines the convenience of online access with the familiarity of a conventional wall mounted Time Clock, PC and telephone or internet connection. The service can be entirely online, so there is no software to buy, install or manage. The SwipeClock solution was designed with"everyday people" in mind, as it can be set up within seconds, and editing the timekeeping data via the Web is simple.
Cost of TimeKeeping, Wasted Labor and Errors:
In 3 minutes you can calculate your savings by eliminating Manual TimeKeeping and wasted labor costs.
Here are some powerful reasons to include a timekeeping solution at your company. Your bottom line and profitability will see the results!
Wasted Labor Minutes
Did you know that just 15 employees receiving pay for merely 4 minutes of "wasted" time per day [untracked breaks, extended lunches, over-approximated punch times, etc.] will total 1380 minutes [23 hours) of additional pay per month?
The Cost: If your average pay rate is $10.00 per hour, then you pay an extra $230.00 each month for labor worked.
Manual Time Card Preparation
The average payroll clerk spends 7 minutes per time card each pay period:
- Preparing and handling time cards
- Verifying time card totals
- Reconstructing lost or incomplete time cards
- Computing time card totals
- Computing shift and department totals
The Cost: Preparing 25 time cards will take an estimated 2.92 hours to complete. Therefore, at an average clerical wage of $15.00 per hour, time card preparation would cost $43.76 per pay period, or $65.64 including overhead and taxes.
The American Payroll Association estimates that the rate of human error in time card preparation is between 1% and 8%.
The Cost: Therefore, a conservative 2% human error rate on a $12,000 payroll would equal $240.00 in erroneous wages paid per pay period
Available Time Keeping Solutions:
There are several different ways to collect the timekeeping data. A Pink Payroll specialist will help you choose the simplest and best fit for your company. Regardless of the way you choose to have your employees clock in, all the data is collected in one place on the internet on your company's account.
The WebClock™ is purely internet based. The TimeClock™ is for manual entry or use with a swipe card. These are the two most widely used methods.
We also offer a BioClock™ which is fingerprint activated, a FlexClock™ which is portable, and a VoiceClock™ for remote login.