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9 Secrets Series: Only pay what you owe

By Simon Austin January 22, 2019

As a fleet owner, your day-to-day costs can quickly add up. Particularly when hidden and unnecessary costs are hurting your bottom line.

The amount of fuel wasted, how efficiently your staff drive, overpaying wages and how you keep track of it all, can make a huge difference when it comes to your ongoing expenses.

When you’re incredibly busy with on-site jobs and managing other areas of your business, it can be hard to identify what things aren’t as cost effective as they could be.

This series of blogs will look at how you can get a grip on such expenses and highlights nine surprising ways to lower your operating costs that you may not have even considered.

Secret 1: Stop paying for hours not worked

You only bill your customers for hours worked — it should be the same with your staff.

If you use manual timesheets to record your staff’s hours, how do you know with absolute certainty that the hours they’re submitting are correct? If your timesheets aren’t accurate, even if it’s just by small increments, you’re simply giving away money that should be going into your pocket. Staff rounding up their hours on a regular basis can mean significant extra costs for you. Even an additional 15 minutes here and there across an entire fleet can really take its toll on your bottom line.

Think about this… Your employee starts work late on Tuesday morning. On Wednesday afternoon, they finish earlier than they should. But, when they submit their timesheet, it shows a normal start time for Tuesday and a normal finish time for Wednesday. With your current processes, could you tell?

Without an accurate and reliable employee tracking software in place, the full scope of your payroll is, to some extent, in your employees’ hands. It’s simply not worth exposing your business, and your profits, to this level of financial risk.

You can read the rest of our 9 Secrets in our eBook

Simon Austin

Simon is the Associate Director, International Marketing, EMEA & APAC. With over 20 years marketing experience in the IT software and business analytics industry, Simon believes passionately in the power of data and how it can help business realise their full potential faster.

Tags: Cost control, Payroll, Team management

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