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. Pay Period (number per year):

 

  Weekly (52)Bi-weekly (26)Semi-monthly (24)Monthly (12)

 

B. Number of Employees:


  employees

 

C. Hourly Wage of Payroll Staff:

 

$ / hour

 

D. Hourly Employees' Average Wage:

 

$ / hour

 

E. Number of Hours in Work Week:

 

  hours

 

F. Number of Work Weeks per Year:

 

  work weeks

 

G. Minutes Spent Calculating 1 Time Card:

 

  minutes

 

H. Time Theft per Employee per Day:

 

  minutes

 

I. Margin of Error:

 

  %

 


  Manual Calculations Waste Time
The American Payroll Association (APA) estimates that about 2½ minutes is spent manually adding each employee's time card.

J. Time Saved per Year (A x B x G / 60):

 

  hours

 

K. Annual Savings (J x C):

 

$

  Errors in Manual Calculations
When totaling employee hours manually with a calculator, human errors are bound to occur and go unnoticed. The APA estimates that manual payroll has an error rate of at least 1%.

L. Annual Gross Payroll (B x D x E x F):


$

 

M. Annual Savings (L x I):

 

$

  Reduction of Time Theft
Tardy arrivals, early departures, long breaks and lunches are all examples of employee time theft that can be eliminated by an automated Time & Attendance system. The APA estimates as much as 5 minutes per day are lost due to these factors.

N. Time Saved per Year (B x F x 5 x H / 60):

 

  hours

 

O. Annual Savings (D x N):

 

$

  Total Return on Investment
Add up the savings from manual calculations that are no longer necessary, reduction of errors and the elimination of time theft, and you'll see that a Jantek Time & Attendance system will pay for itself in less than a year.

P. Total Annual Savings (K + M + O):

 

$

To be conservative, this study is based upon saving approximately 1.5% of your gross payroll, however the APA estimates that most companies will save closer to 5% of gross payroll costs.

 
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L.J.Saunders Incorporated
Call for Quote!!!
614-888-8200 or email us at
LJ6589@gmail.com mailto:lj6589@gmail.com?subject=Time%20Recorders%20%26%20Supplies