Are Your Employees Stealing From You?

According to an anonymous survey conducted by Kessler International of 500 employees on the payroll in various retail and service industries, over 30% acknowledge misrepresenting at their place of employment. Are your employees stealing from you? If you haven’t caught any of your employees fudging on their time cards—it might be only a matter of time (pun definitely intended).

What are the top ways staff members misrepresent hours?

• intentionally clocking in early
• deliberately clocking out late, and
• buddy punching

Untracked breaks, extended lunches, and estimated punch times add up. If 32 employees over-estimate their work time by only 15 minutes per day, that adds up to 2400 minutes per week. If your average pay rate is $10.00 per hour, then you pay an extra $400.00 each month for time not worked. That’s enough to pay wages for another employee!

Not convinced? Buddy punching, entering inaccurate start times, and early punch-ins and late punch-outs result in an average of 4.5 fraudulent hours per week, per employee. For one staff member working at $10 per hour, that can be a loss of $45 per week. In a business with 5 employees, each earning a wage of $10 per hour, this can cause over $11,000 in overpaid payroll, which is lost revenue for your company.

Each minute employees spend ‘on the clock’ affects your revenue and profit. How well do you manage employee time theft? How do you prevent wage theft?

We can help you avoid this widespread wrongdoing with our automated timekeeping system. It lets you keep more accurate records of staff member time, and helps you avoid the costs of early, late, and buddy punching. Contact us for a free consultation and demo.