Do you monitor how long it takes

Discussion in 'Lawn Mowing' started by Can I Mow Your Lawn?, Mar 10, 2007.

  1. Can I Mow Your Lawn?

    Can I Mow Your Lawn? LawnSite Member
    Posts: 35

    For those with crews doing residential, do you monitor how long it takes for employees to cash their checks?

    It give me great comfort knowing that my employees are cashing their pay checks the day of. I've got some that often go a week or two before cashing, and these are the ones that will probably be future competition. With these guys, I am on the look out for red flags (mysterious cancellations, etc).

    After all, this is a capatilist society. Takes money to make money. If they're cashing their check the day of, you know they're broke and won't be buying their own trailer and equipment any time soon.

    Just wondering if anyone else is paying attention to how long it takes for them to cash the paycheck?

    C' Ya
    Can I Mow Your Lawn?
     
  2. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    good idea. Mine have always had to stop at the bank on payday.
     
  3. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    My payroll service company offers direct deposit for my guys...it's a beautiful thing. :)
     
  4. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    I never thought of that, but I usually don't cash my customer's checks right away, more so because I want a FULL deposit slip, but either way I think this could indicate financial responsibility and that is a good thing, yes? With bigger companies, some run a credit record check on all interviewee's, due to the exact reason they feel financial responsibility can be a guideline towards that person's honesty.

    I myself would feel pride if I thought I was creating future competition and maybe even encourage it, and more worried about those who might do some work under the table and / or any other number of questionable tactics that can cost my company money now, but that's just me and it also doesn't mean that everybody who isn't so honest isn't trying to form their own, even if the chance of success is less.

    Because when I compare those who wouldn't think twice of pulling a questionable tactic vs. those who are working on an honest deal such as creating their own Lco, I see a bothersome disparity in the numbers... Which is not to say that creating one's Lco is an honest tactic per se, but in this example it is.

    This brings me to another conclusion, which is that I don't think the length of time it takes to cash a check is any indication as to who might be attempting to form their own Lco, but it could be an indicator to their financial responsibility, which in turn can help gauge their honesty because those two things historically have worked hand in hand... Who is to say the guy who never has a dime to his name hasn't thought of alternative methods of acquiring equipment, for instance?

    I would have a tough pre-screening policy in place and this would likely translate into more than my share of late cashers, maybe my money stays in my account longer, and this is also good even if I can't predict or count on it. What would bother me the most are the questionable tactics, I would have little to no problem with any honest attempt, no matter what the goal.
     

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