Two Ways You Are Getting Ripped Off Every Time You Run Payroll

As employers, we like to think we can trust our staff members. Without trust, not much can be accomplished, but there are a couple of areas that deliver an easy opportunity for your employees to take advantage if you aren’t watching closely, and it can cost you thousands.

There is an Epidemic of Employee Time Theft
In a survey of over 500 retail and service industry workers, over 30 percent admitted to deliberate time theft.¹ The two types they indicated specifically are buddy punching and recording erroneous start and end times.

Buddy punching, logging incorrect start times, and early punch-ins and late punch-outs result in an average of 4.5 hours per week, per worker. For one employee earning a wage of $10 per hour, that can be a loss of $45 per week. Not a big deal? Think about this…

Let’s presume you have 15 employees, each earning a wage of $10 per hour, and each of them are swiping an average of 4.5 additional hours per week. At this rate, you will be spending $675 per week in unsanctioned time. In a year, you will spend $35,100 for labor you never received; you just bought your employees a very nice new car for no good reason.

If you have more than 15 staff members, or you are paying more than $10 an hour, the story only gets worse.

How Can You Protect Yourself From Employee Time Theft?

Easy! Better time clock management. Payroll Solutions provides TimeWorksTouch, which is specifically designed to minimize early punch-ins, late punch-outs, and it makes buddy punching almost impossible. The low cost for this solution will pleasantly surprise you, and the savings it will deliver are far and above the nominal cost. Give us a call at 608-837-2590 to find out more.

¹“Employee Theft No Longer an If-It Is Now How Much!,” Kessler, https://investigation.com/2013/04/26/employee-theft-longer-now-much/, accessed March 6, 2017

UPGRADE TODAY

Payroll Solutions offers Workforce Management Suite, the powerful, fully-integrated Workforce Management Suite that makes it easy to optimize the performance of your managers, employees, and business.

Workforce Management Suite includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. Workforce Management Suite is created for busy employers like you who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and decrease labor costs.

How much can you save? Check our Payroll Solutions ROI Calculator.

We can get you up and running with Workforce Management Suite in minutes. Contact us today to book a demo.