Employee Time Theft: Is it causing a Dent in your Business?
When one thinks of employee theft, the very first thing that pop in head is stealing office supplies or cash. But have you ever thought of the biggest expense for a business i.e., labour?
What about payroll fraud? Is your business equipped to tackle such a fraud? Is employee theft dragging your business to the rocks?
Here are few signs your organisation is at risk:
- Buddy Punching or Tag Teaming
Joe’s timesheet states that he arrived to work at 9:30, but is that true? Whether it’s an electronic time tracking system or punch card, co-workers often assist each other misrepresent work time. It can be something as punching in with someone else’s swiping card or name. If your timesheet is always erroneous with such misrepresentations, it can be a big sign that your people are misrepresenting work hours of each other.
- Extended Breaks
Can’t help, but yes, some people do have this habit of extending their break periods. This can take place for an entire day: 30-minutes of tea break in morning, 90-minutes of lunch break and a 30-minute evening stroll. If you see a particular employee or group of employees more in the break area than at their work desk, it may be time to have a talk about what break timings would be appropriate.
- Frequent Overtime
For a business that pays its employee on hourly basis, time theft can occur with unwanted overtime. These employees stand out from the rest, as they tend to work for more overtime than others do. If your timesheet is reflecting frequent overtime of a particular employee, it’s time to look into it, since employees are often more inclined in high payouts by performing time thefts. A good time tracking software can help to identify a pattern, if any.
- Frequent Personal Business
Everyone has his or her own personal lives and space. At times, this is acceptable to take up personal calls in the middle of the work. However, frequent personal business can mean reduced productivity and focus at work. This can be anything such as extended personal calls, hours of social media, texting, etc. If this is a continuous thing, it is time to pay heed.
Time theft is one of the most elusive problems many organisations face. These four yet easy to identify signs are few ways you can get hold of an undermining time theft plot at your organisation. This often results in your HR department spending more time in tracking employee time and attendance. A wise way to ensure accountability is incorporating an automated timesheet management software or attendance management system. It makes both tracking as well as reporting employee time easier.
To know how a time and attendance management system can help you expose employee time theft at your organisation, contact us. You can also SMS SAGE to 56767 or drop us a mail at email@example.com or give us a shout out at Facebook or Twitter.