Keeping Track of Time – Time is Money

August 27th, 2015 | Comments Off on Keeping Track of Time – Time is Money |

employee time clockWe’ve all heard of the cache phrase “Time is Money!” Well, that’s not always true. However, for an employee who’s paid by the hour, time is literally money. So as a business owner, managing your time and managing your money are almost the same thing!

I’m not saying that all employees are dishonest, but some will do everything they can to do what we like to call, “Milking the Clock.”

Back in the day I had a job working at an airport just outside of Silver City New Mexico. It was a summer job which had me doing runway maintenance, washing and waxing planes and refueling slurry bombers as they came in from their fire runs. As a high school kid, it was a pretty sweet gig.

The way we kept track of our time was in a little notebook, which was where we also kept track of the amount of fuel we put in the planes. Now, I have to admit, if I hadn’t already been told to do so, I would have rounded my hours up. I never would have rounded them down. But that’s just the nature of the beast.

Where there is not accurate employee time clocks, for the business owner, there will be a loss of revenue.

Quick scenario: If I worked 7 hours and 45 minutes per day, and rounded that up to 8 hours, doing that every day for three months of summer, that’s nearly two free days of pay.

It adds up.

So, as a business owner, if you’d like to keep a close eye on where your funds are going, it’s an obvious decision to begin using clocks such as those found at Allied Time. I personally remember the last two time clocks I had to use. The most recent was all on the computer. I had to log on to the company system, hit “clock in” and when I left for the day, I had to hit the “clock out” button. And the one I remember using before that made an extremely loud “chunk” noise as you clocked in or out. So if you were late, everyone waiting for you were checking their watches as they heard that noise.

Not cool.

It’s been many moons since I’ve had to use one, but if you’re looking to purchase time clocks, at least you’re not the one that’s going to have to use them. In my opinion, it’s always better to be in your shoes than in the shoes of someone who is punching in and out of work!

David Allred is the author and creator of CFW. David has been teaching entrepreneur minded people how to earn a full time income working from the comfort of home for nearly a decade.

Think about it. Never miss your kids’ events, set your own schedule, choose your own income and enjoy a lifestyle and income which most people only drool over!

Be sure to connect with David Allred on Google+, Facebook and everywhere else!

Facebook Twitter LinkedIn Google+ YouTube