All You Need To Know About Time Theft


All You Need To Know About Time Theft

Besides staplers, hole punchers, and other office supplies, there are many valuable items that employees often steal from their employers. And stealing time is one of them. Stealing time is termed as time theft and as the name suggests, it occurs when employees bill their employer for the time they didn't actually work. Detecting time theft is very hard and it can take years for you to find out how much time has been stolen. There are various ways, through which, your employees can steal time. For example:

  1. Late starts
  2. Long breaks
  3. Proxy attendance
  4. Personal activities at work
  5. Rounding timesheets, etc.

Discovering and eliminating time theft has long been a problem for many employers out there. Now that the spread of coronavirus has compelled many businesses to work remotely, employers have become more vulnerable to time theft than before. Without a shadow of a doubt, the culture of remote work has turned out beneficial for both the employers and employees, but it requires a more observant modern way of handling your remote team's time.

Time Theft is Expensive Business

We hope by now, you must have acquired enough idea of what time theft is. Now, let us try to understand why you must make effort to stop time theft. Time theft can result in great loss for your business, in fact, much more than you can imagine. Once time theft has been done by your employee, nothing can compensate it. Your employee’s time is one of your business’s most valuable assets. As shown in the movies, there is no time machine in this real world, with the help of which, we can go back in time and do what should have been done at that particular moment.

What Can You Do To Stop Time Theft?

It is not necessary that when your employees clock in, they start working. Manual attendance marking systems, such as punched cards and spreadsheets can be manipulated easily. They lack precision, control, and are not perfect. This is where the need for employee time and attendance tracking software arises. It can help you find out if your employees are working in real, not just when they say they are working. One such software is Trackyu. Feel free to get in touch with us for a free demo.