According to an anonymous survey conducted by Kessler International of 500 employees laboring in various retail and service industries, over 30% admit to falsifying time cards at their place of employment.
What are the top ways staff members misrepresent hours on time cards?
- willfully clocking in early
- deliberately clocking out late, and
- buddy punching
These three forms of employee time cheating account for an average of 4.5 hours per week, per staff member, of unrealized time being logged.
In a business with 5 employees, each earning $10 per hour, this can lead to over $11,000 in overpaid payroll, which is lost revenue for your company.
Payroll Solutions can help you avoid this omnipresent scam with TimeWorksTouch and PunchLogic; a new system that helps you keep more accurate records of staff member time, and helps you avoid the expenses of early, late, and buddy punching.
We invite you to contact us at 608-837-2590 and we’ll show you how TimeWorksTouch can pay for itself in less than a month.
http://www.fierceceo.com/human-capital/take-u-s-small-businesses-lose-average-nearly-300k-annually-to-employee-theft
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