Saving Your Contracting Company Money Is As Easy As Tracking Time

February 3rd, 2022

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.

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.

People Also Ask

What is time theft?

Time theft occurs when an employee accepts pay for time they did not work. It could be intentional or accidental - both are still considered theft.