Monthly Savings Example
|Hours||Financial||How We Calculated it|
|Punch In/Out time||83||$833||10min*5days*25empl=1250min 1250min*4 weeks in a month=5000min 5000min/60 = 83.3hrs|
|Scheduling time saved (1% of all hours)||40||$400||Hours per month above*1%|
|Timecard calculations (1 minute/employee/day)||8||$83||1min*5days*25empl=125min 125min*4 weeks in a month=500min 500min/60=8.3hrs|
|Payroll calculation errors (1%)||40||$400||Hours per month above*1%|
|Total Savings||172||$1717||We just summed the above numbers|
|Cost of TimeWellScheduled||$75||$3/employee * 25|
|Net Savings PER MONTH||$1642||We took the savings-cost|
That’s over $19,700 in savings a year (we just took the monthly savings * 12)!
Punch In/Out Clients starting with our system find on average employees are late for their shifts on average 10 minutes a day. On a 5 day work week that is 50 minutes of lost productivity. Do you have 25 employees? That’s more than 20 hours a week you can save.
Scheduling Managing time off requests, availability and shift swapping are all integrated into the scheduling system. With the ability to quickly make schedules with copy/timebands or templates and offloading schedules to managers, you can see a HUGE time savings. Assume a very modest 1% of all hours scheduled.
Timecards TimeWellScheduled automatically calculates daily and weekly totals per employee on their timecards. Doing this manually, even a minute per employee per day adds up to a lot of time by the end of the month.
Payroll An often missed cost is errors made when manually calculating employees timecards. Have you had an employee recently complain they were under or over paid? Assume the smallest error rate of 1% on average.