Episode Synopsis

In this episode of Time Well Spent, we explore why precise time tracking is critical during economic downturns. You’ll hear about:

• How small rounding errors add up to thousands in lost revenue each year

• The hidden costs of payroll violations and compliance mistakes

• Why labor costs are the largest controllable expense in most small businesses

• Strategies for managing cash flow with accurate labor data

• How technology prevents time theft, errors, and inefficiencies

• The Department of Labor’s enforcement risks during recessions

• Using time data to guide staffing, project allocation, and budgeting decisions

• Best practices for implementing digital tracking without disrupting operations

• How accurate records build resilience and set businesses up for growth after a recession

Related Article: Why Time Accuracy Is Critical During a Recession