Fun Facts & Startling Statistics
The best from Acroprint's home page
Did you know? According to a survey conducted by the American Payroll Association, 82% of companies surveyed planned to purchase new or upgraded payroll software within the next two years. If you're still manually entering time and attendance data to your payroll system, it may be time to consider a new time and attendance system as well.
When you download time and attendance data directly to your payroll system, you save time and money by reducing clerical errors and data entry time. Many companies find their savings pay back the cost of the system in only a few months.
Did you know? According to the Bureau of Labor Statistics of the U.S. Department of Labor, employer costs for employee compensation averaged $26.05 per hour worked in September 2005.
Did you know? According to the 2004 National Payroll Week Survey, conducted by the American Payroll Association, over half the respondents indicated they support the use of biometric technology to record time and attendance.
Did you know? On November 8, 2005, the U.S. Supreme Court ruled that employers must pay employees for the time it takes to put on and take off safety gear and the time it takes them to walk between the changing area and the production area. Workers must also be compensated for time they spend waiting to take off safety gear; however, the court ruled that time spent waiting to put on safety gear at the beginning of the workday is not compensable. (IBP Inc. vs. Alvarez et al. and Tum et al. vs. Barber Foods Inc.)
Did you know? According to a survey conducted by Nucleus Research, reported by InformationWeek.com, timekeeping software can pay for itself in as little as a few months. Payback comes from reductions in clerical errors, processing time and unauthorized leave and overtime, as well as from elimination of the cost of paper time sheets or time cards. Of the survey respondents, 88% said that the elimination of payroll errors alone paid for the system.
Did you know? According to opinion letters issued in January and April, 2005 by the U.S. Department of Labor, an employer can require exempt employees to record and track their hours worked without jeopardizing the employees' exempt status — as long as the timekeeping policy is not for the purpose of wage payment tied to hours actually worked.
Did you know? According to a survey conducted by the American Payroll Association: 65% of the respondents collect time and attendance using an automated process, or a combination of manual and automated processes. (The responses noted some of those collecting information manually were in the process of switching to an automated solution.)
Did you know? The Federal Fair Labor Standards Act (FLSA) and the laws in most states require that employers keep accurate records of hours worked by nonexempt employees. An employee time clock or time and attendance system can simplify your recordkeeping, saving you both time and money.
