Employee time theft costs employers hundreds of billions of dollars every year—and your company is probably one of them. In a recent survey of hourly workers, 43% admitted to exaggerating their hours worked. And 25% said they do it 76%-100% of the time!
Why is time theft so prevalent? Perhaps Oscar Wilde said it best: “I can resist anything but temptation.” It’s up to employers to remove the temptation.
Time theft is a crime of opportunity. Fortunately, cutting-edge time and attendance technologies eliminate time theft opportunities—and smart employers are taking advantage of them in ever-increasing numbers, especially these top four.
Time Theft Tech Solution #1: Time and Attendance Software
If you’re still using handwritten timesheets to track employee work time, chances are, you’re paying for work that never took place.
Even otherwise hardworking employees may be tempted to round or pad their minutes when there’s little oversight. All those stolen minutes add up by the end of every pay period.
Implementing automated time and attendance software will immediately curb time theft. The system keeps—and records—employee time electronically, eliminating opportunities for employees to misstate their time for any reason.
But not all time and attendance software is equally effective at combatting time theft. Look for those that also incorporate the advanced time theft solutions below.
Time Theft Tech Solution #2: Biometric Time Clocks
Buddy punching—when one coworker clocks in or out for another—is a very common form of time theft. According to a seminal Nucleus Research study, buddy punching costs employers 2.2% of gross payroll per year.
Unfortunately, time and attendance systems that rely on conventional swipe cards don’t automatically solve the problem. After all, swipe cards can easily be handed off between coworkers.
Unlike swipe card based systems, biometric time and attendance systems use proven biometric recognition technologies to verify employee identity at the clock. Biometric time clocks work by measuring employee’s unique physical characteristics, using highly-accurate methods such as fingerprint or facial recognition technology.
With biometric time clocks, punching in and out is still easy—as easy as placing a fingertip on the biometric time clock screen. But buddy punching is almost impossible.
Time Theft Tech Solution #3: Advanced Mobile Time Tracking Applications
Time theft is a very real problem when managing a mobile workforce. While there are a number of mobile time and attendance programs on the market, some stop time theft more effectively than others. Look for mobile time-tracking applications with these capabilities:
- A mobile time tracking application with GPS verification. By capturing the employee’s GPS coordinates with every time punch, employers can confirm that workers are at work when clocking in and out.
- A mobile time tracking application with Geo-tracking. Geo-tracking automatically captures an employee’s GPS location at defined intervals, verifying employees are where they should be throughout the work day.
- A mobile time tracking application with Geo-fencing. Geo-fencing instantly clocks employees out when they leave designated work areas, so employees can’t fail to punch out.
- A mobile time tracking application with facial recognition biometrics. This feature—which uses a smartphone's camera—measures and matches a person’s unique facial characteristics for the purposes of identification or authentication.
Time Theft Tech Solution #4: A Robust Workforce Management System
Many time and attendance software providers skimp when it comes to workforce management features. But a powerful workforce management system offers employers advanced capabilities that allow them to closely manage employees, while preventing time theft.
For example, perhaps you have employees who manage to snag unscheduled overtime week after week. Look for a workforce management system that includes a real-time Overtime Alert feature. It will proactively text or email an employee’s manager a warning before the employee crosses the overtime threshold, so the manager can send the employee home, even remotely.
Similarly, some workforce management systems not only require that employees clock in and out for meal breaks, but will flag excessive break times so managers can put a stop to it.
And of course, an advanced workforce management system will give you access to a range of helpful time and attendance reports that provide unprecedented visibility into employee behavior. These reports allow you to view your workforce by shift, department, worksite, etc., allowing you to spot time theft patterns you’d otherwise overlook.
Get Time Theft Under Control
Time theft is very real, and probably more prevalent in your organization than you think. But anti time theft technology is real, too—you just need to take advantage of it.
EPAY’s advanced time and attendance software—part of our unified HCM platform—offers some of the most advanced time theft solutions available to employers, including biometric time clocks, a mobile time tracking application, and a robust workforce management system. It’s part of our unified HCM system.
Request a personal demonstration and see how we can help you combat time theft…and much more.