How are YOU recording employee working hours?
Velocity 42, the 20-acre business park in Redditch, has just gained its first occupier.
The lucky company is Heartbeat, a design and manufacturing company specialising in retail display. The company arranged with St Francis Group to create them a 45,462 sq ft purpose-built facility.
Five speculative units spanning 330 sq ft are also being built, and will be completed by May 2019.
Gareth Williams, development director at St Francis Group, said: "The deal with Heartbeat UK so quickly after deciding to build these new units supports our notion of pent up occupier demand in the area.
"This agreement and other discussions we are having with local occupiers suggests other similar agreements won’t be too far behind this one. With construction now underway we look forward to welcoming Heartbeat UK onto the park early next year."
Buckingham Group has been appointed as the main contractors on the scheme.
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Moving into a new building is the perfect time to assess your current payroll system, specifically the way that you record employee attendance and their hours worked.
Many companies, even in today’s high-tech world, still use weekly paper timesheets to record employee working hours. These have more downsides than they have advantages.
For example, they are very easy for an unscrupulous employee to fake. If there is no way of monitoring their attendance apart from their own self-reporting, then they can easily put in overtime or prime time shifts that they didn’t actually do.
Even an honest and hard-working employee might occasionally mis-remember exactly when they started or finished a shift and so accidentally misrepresent their hours.
Another example of the difficulties of paper time sheets is the incredible amount of time they can cost payroll staff, who need to transfer often illegible handwriting individually onto Excel spreadsheets in order to convert it into data they can deal with.
Again, there are opportunities in that process for either deliberate fraud or accidental typos causing payroll issues.