Due to the high volume of employees and job types, plus the level of responsibility on the shoulders of HR, it’s easy to see how mistakes can be made when it comes to payroll processing.
Some staff may be part-time, some may be freelancers who get paid for a certain amount of time on a project, some may be salaried employees that get paid for overtime, and that’s barely even scratching the surface. Part of the problem is that many businesses have all different types of staff, for several different purposes. It’s vital to remember that while it may feel insignificant, it’s just as important to make sure they are paid correctly for the time they work to keep your workforce happy. It may come as a surprise, but being underpaid for the work completed is more common than you think. Likewise, staff may be getting a rough deal too. If every one of them wastes 5 minutes per day, that means a total of 250 minutes of time is spent not working that your business could be paying for. That may not sound like much to cry about, but when you break it down to the numbers, it’s quite shocking. Research shows that on average, each hourly paid employee steals 5 minutes of time every day they’re on the clock, and management are none the wiser. Once you dig a bit deeper, it’s easy to see what the core problem with most time management methods is. Not only could potential human error be jacking up labor costs to the tune of thousands of dollars every year, but your on-site and remote workers probably aren’t happy about it either. When it comes to the profits of your business, you know that every second counts and you’re probably wasting a ton of time and money dealing with accounts. The harsh reality is that while task management and timekeeping is critical for keeping your employees productive and paid accordingly, it’s no easy task.
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