Saving Your Contracting Company Money Is As Easy As Tracking Time

There are many small things you can improve upon and make more efficient. Improving processes and tactics can help any company save thousands of dollars. Employee time theft is common in the construction industry and notoriously difficult to prevent. Eliminating time theft should be a top priority for small and large companies alike in order to streamline business management practices.

Time is a resource that companies can overlook, especially if your job requires you to work at various job sites. When constantly traveling from one job to the next, and managing several employees, managers can lose precious time trying to connect with their employees and relay information to them.

What is time theft?

Time theft happens when an employee is paid for hours they did not actually work. This can occur either intentionally, such as deliberately falsifying work hours, or accidentally, like misreporting time due to misunderstandings. Regardless of the reason, both cases are regarded as time theft because the employer compensates for non-worked time.

Time Tracking and Time Theft

One way to preserve time is to implement a time tracking solution which will also simultaneously prevent employee time theft. But a time tracking app is not just a benefit to employers. Honest employees typically like tracking time with an app better since it is the easier option. Simply tap to clock in and tap to clock out.

Another reason to use a time tracking solution is that many employees tend to “round up” when they fill in their time cards. This may not seem like much in a day, or even a week, but adding those extra minutes over a year ends up costing you a fairly large sum of money.

By implementing a time tracking solution, you’re ensuring that timesheets are accurately completed.

Are you losing money because your employees are inaccurately tracking their time? Try our free savings calculator which will show you how much money you can save by implementing a time tracking solution.

You’ll be surprised at how much money you will save by paying for only the hours that are actually worked.

A digital time tracking solution is effortless- You won’t have to track down your employees to get their time sheets or have to decipher their handwriting. Your employees won’t have to stop by the office to clock in and out, allowing them more time to spend on the job site.

If your company is growing then the number of jobs and employees is increasing. This means the stack of timesheets on your desk is getting taller. Having paperless timesheets allows for that pile to disappear because the software automatically uploads the hours your employees track through the app in one centralized location.

If you’re interested in learning more about how a contracting company can cut costs, I recently wrote a short report based off of my experiences. I created this resource to help other companies easily cut costs by providing a few tips and resources to use on the job site.

How Time Tracking Apps Solve Compliance and Payroll Errors

Beyond time theft, another hidden cost for contracting companies is compliance risk. Labor laws require accurate records of employee hours, overtime, and breaks. Relying on paper timesheets or manual entry often leads to mistakes that not only frustrate employees but can trigger costly penalties if you are ever audited.

Digital time tracking eliminates these problems by automatically recording hours, calculating overtime correctly, and storing records securely. Instead of scrambling to piece together incomplete paperwork, you have a detailed digital trail ready whenever you need it.

Real-Time Visibility Across Job Sites

One of the biggest challenges contractors face is managing employees across multiple job sites. Without visibility, you may not know where your crews are or how long they’ve actually been working. A time tracking app with GPS functionality gives you clarity without micromanaging.

With Labor Sync, you can confirm that employees clock in at the right site, see real-time updates on hours worked, and quickly adjust schedules if a project is running behind. That means fewer phone calls, less guesswork, and more accurate planning for future jobs.

Savings That Compound Over Time

While a few minutes of over-reported time may seem insignificant in the moment, across a 10- or 20-person crew those minutes multiply fast. A digital solution ensures you only pay for actual work performed. For most contracting companies, this simple change results in savings that cover the cost of the software many times over.

Think of it like plugging a leak in your budget. Once the leak is sealed, you can reinvest those savings into better equipment, hiring skilled labor, or taking on more profitable jobs.

Empowering Your Employees Too

It’s not just business owners who benefit from accurate time tracking. Employees appreciate being paid correctly for the hours they actually work. With easy app-based clock-ins, they no longer have to worry about lost timesheets or disputes about handwritten entries. Everyone gains trust in the system, which strengthens morale and reduces turnover.

The Bottom Line

Saving money in your contracting company is easier than you think. By switching from paper to digital time tracking, you eliminate time theft, cut payroll errors, ensure compliance, and gain real-time visibility across all of your job sites. The result? Thousands of dollars saved each year and a smoother, more productive business.