No Fleet GPS Tracking? You’re Definitely Wasting $$$ on Incorrect Timecards!
Don’t want to hear it!
If you run a business that relies on a fleet of workers in the field, some costs you can’t control. They’re just part of doing business. Gas prices go up… so your fleet’s fuel gets more expensive. No way around that.
But throwing away money because your workers are handing in incorrect timecards? That’s something ClearPathGPS tracking solutions can definitely help your operations control.
Almost Half of Workers Inadvertently Pad Their Timecards
Whether its rounding up the time to the nearest hour of half hour when they finished a job or returned to the office, padding a timecard is more common then businesses realize. Though those extra minutes surprisingly can really add up. And unless your company has supervisors visually tracking and logging every activity (yep pretty much impossible!), timecard padding is probably affecting you operations as well. How do we know? Researchers at Software Advice ran a survey and found that 43% of hourly workers round up their timecards.
So, look around at your drivers. If it’s not Steve, and it’s not John, then it’s probably Mike.
We’re joking, mostly. (Sorry, Mike!) But this is serious. Here’s what the American Payroll Association estimates incorrect timecards could be costing you.
Incorrect Timecard “Mistakes” Can Cost a Business Up to 7% of Gross Annual Payroll
The APA has studied this problem pretty extensively, and they say the average hourly employee who “rounds up” adds 50 minutes to 4 ½ hours every week to their timecards.
Might not sound too scary, but look what that can add up to…
The big picture:
Across the country, these, uh, “timecard inaccuracies” cost business hundreds of billions of dollars every year.
The ‘your business’ picture:
So what does this all mean for you? Well, according to the APA, incorrect timecards affect 75% of US companies, and it can drain them of as much as 7% of their gross annual payroll.
Think about that. If you pay out $500,000 in annual payroll, you could be wasting $35,000 every year on the very common and seemingly harmless activity of padding every so slightly padding timecards each day. That means these hours you’re paying out for time nobody is actually working could be enough to hire another employee—or replace aging vehicles, or bank the savings.
(Thanks for nothing, Mike!)
Hey, Maybe You’re Business is the Exception
But like we said, maybe your company is a special case. Maybe you don’t have a single one of the 43% of workers who pad their hours.
Maybe you have a bulletproof system for weeding out unethical employees during the interview. Maybe you “accidentally” drop a crisp $100 bill right outside your company’s front door just before a candidate walks in for an interview. And maybe only those who bring the bill to your receptionist make it to the next step.
Yeah, it’s an expensive way to screen new employees, but hey, hiring a timecard “mistaker” will cost you a lot more over time.
But if Incorrect Timecards Affect Your Business, Too…
Of course, you probably don’t have a bulletproof screening process like that. And, sorry to say, you probably do have some timecard games going on at your company, particularly among your drivers who are in the field all day, where you can’t monitor their movements.
Or… can you?
Our advice, from working with thousands of small businesses just like yours, is to install an auto GPS tracking device. They’re your company’s trucks, after all, and with the right kind of business vehicle tracking service, you can even automate your drivers’ timecards.
Ready to take control of timecard padding and get better results? We’d be happy to help calculate the savings you can achieve just in this one area of your operations – along with quite a few other opportunities to improve your operations and bottomline. Contact us today!