Think you can’t afford a Time and Attendance system? You need to read this
The cost-of-living crisis is dragging on, with no sign it’s going to get even the tiniest bit better any time soon. Not surprisingly, this has made people think twice, three and even four times before buying something new. But the “Spend Money to Make Money” saying is rooted in truth at times. No, it doesn’t mean we should all go on a shopping spree, but when it comes to a time and attendance system, it’s not so much a question of whether you can afford one – it’s whether your business can afford NOT to have one. And, as we’re about to explain, the answer is almost always no.
When we speak about the main advantages of time and attendance, we talk about how uAttend can save your business time and money. Let’s put this into a clearer example, to give you a better idea of how it does that.
You’ve all heard of time theft by now. This, in simple terms, is paying your employees for work that, for whatever reason, they have not actually done. And, whilst it may not seem like a big deal for you right now, time theft costs businesses in the UK billions of pounds each year.
When it comes to calculating time theft, we know from speaking with our clients that, on average, 1 in 10 employees “steal” 5 minutes’ worth of work time at least twice a week. This may be through arriving late at work, leaving a little too early, etc. By using the Roundings and Grace features of uAttend, our customers can save themselves 15 minutes of time, twice a week.
Here’s what that calculation looks like, based on prices for the 10-19 employees plan and the minimum wage for 23+ year olds, which is £10.18:
15 minutes of £10.18 (25% of £10.18) = £2.55
2 employees, twice a week is a saving of £10.18
Over a year, this is a saving of £529.36
The uAttend pricing plan for 10 – 19 employees cost per year = £287.88 (£23.99 x 12)
This gives you an instant saving of = £241.48
This leaves enough money to buy yourselves a JR clocking in machine and still be saving! Not only that, but each year after that is money saved straight into your bank.
Like we said, it’s not whether you can afford a time and attendance system – it’s whether you can afford to go any longer without one.