CALCULATE YOUR SAVINGS
| Pay Periods per Year: | |||
| Number of Employees: | employees | ||
| Hourly Wage of Payroll Staff: | $ / hour | ||
| Hourly Employees' Average Wage: | $ / hour | ||
| Number of Hours in Work Week: | hours | ||
| Number of Work Weeks per Year: | work weeks | ||
| Annual Payroll Costs: | |||
| Time Spent Adding Up Each Time Card: | minutes | ||
| The American Payroll Association estimates it takes about 5 to 6 minutes to manually total up and audit each employee's time card or time sheet.*Nucleus finds that payroll error causes companies to overpay their employees by an average of 1.2 percent. Nucleus also finds that the average rate of payroll inflation is 0.72 percent. (Nucleus Research, March 2009) | |||
| “Time Theft” per Employee per Day: | minutes | ||
| The American Payroll Association estimates up to ten minutes per day per employee is lost due to tardy arrivals, early departures and long breaks/lunches. | |||
| Clerical Error Rate: | % | ||
| The American Payroll Association estimates a 1% to 8% clerical error rate when totaling employee hours manually. | |||
| Cost of Unplanned Absenteeism: | % | ||
| The average total costs of incidental unplanned absences amount to 6.0% of payroll, and those for extended absences average are 3.2% of payroll. Combined total costs for incidental and extended absences - the kind of absences employers try to minimize - add up to 9.2% of payroll. (Mercer (Survey, 2010) | |||
| Buddy Punching: | % | ||
| Biometric technology validates punches at the clocks and helps eliminate buddy punching saving up to 2.2 percent of total payroll. (Nucleus Research, 2005) | |||
NO MORE MANUAL CALCULATIONS
Your new Intechsol's I.T.S. Time and Attendance application will automatically total employees' worked hours, saving your payroll staff the time of manual calculations.
| Time Saved per Year: | hours |
| Annual Savings: | $ |
REDUCE "TIME THEFT"
Your I.T.S. Time and Attendance application accurately records arrival and departure times helping ensure you only pay for actual work time and reducing the potential for “time theft.” We assume a conservative 60% reduction per employee per day.
| Time Saved per Year: | hours |
| Annual Savings: | $ |
NO MORE CLERICAL ERRORS
Your I.T.S. Time and Attendance system's automatic calculations will virtually eliminate clerical errors in totaling employee hours worked, saving you the time and money necessary to correct these errors.
| Annual Gross Payroll: | $ |
| Annual Savings: | $ |
UNPLANNED ABSENTEEISM COSTS
Our I.T.S. Employee Self-Service application allows employees to submit vacation, sick days or personal days requests. This Improves the employees satisfaction and productivity levels.
| Annual Gross Payroll: | $ |
| Annual Savings: | $ |
BUDDY PUNCHING
With our Biometric Clocks it is easy to ensure that employees earn a day's pay only when they are present to do a day's work. Whether your company has 50 employees or thousands, biometric time and attendance terminals will provide more accurate payrolls and reduce labor costs.
| Annual Gross Payroll: | $ |
| Annual Savings: | $ |
TOTAL ANNUAL SAVINGS
Compare this savings to the price of an affordable Intechsol Time and Attendance Solution to see how quickly your new system can pay for itself and start generating a positive return on investment!
| TOTAL ANNUAL SAVINGS: | $ |