What is Time Theft?
Time theft is a very common occurrence in workplaces across all industries, and typically refers to employees who cheat their employers to be paid for work they have not actually done, in terms of time spent at work.
Prior to COVID-19, most of the workforce was working in offices and it was easier for the employers to identify any form of time theft. However, with the ongoing pandemic still affecting many lives, many companies have either adopted a hybrid work arrangement or allowed their employees to work remotely. This makes it harder for employers to monitor and manage their employeeâ€™s attendance to ensure that they are being honest and productive in an environment that offers many distractions.
This also heavily applies to blue collar sectors, where employees are typically on the road, offsite or travelling to complete work at multiple locations. How can an employer be certain that their staff are where they should be, when they should be.
According to Forbes, the average employee steals approximately 4.5 hours per week from their employer, which totals to about six full work weeks per year, resulting in costing organisations billions of dollars every year. Thus, greatly affecting the companyâ€™s overall performance and growth as well.
While it may be impossible to completely eliminate time theft from happening in the workplace, it does not mean that it cannot be reduced.
With Info-Techâ€™s affordable and easy-to-use Time Attendance software, employers can easily track an employeeâ€™s hours and whereabouts via the portal or mobile app. Equipped with a built-in facial recognition feature, accurate capturing of GPS locations and geofencing, the mobile app has become an essential and integral daily tool in managing employees across many industries.
Businesses can now reduce the frequency of time theft and hence, reduce financial losses. By having a mobile app that is integrated and synced with Info-Techâ€™s advanced HR software in real time, employers can stay on top of their employeesâ€™ schedules in a more efficient and effective manner.
Even with a clear set of policies in place that can help employees understand what is expected of them, it does not hurt to have a technological safeguard to gain data-driven insights that can help an organisation pinpoint where productivity is falling and how to improve it.
As a company that has had a presence in the HR industry for over 25 years, Info-Tech has helped more than 20,000 customers and processed over 500,000 employeesâ€™ payroll over a span of 6 countries. Info-Techâ€™s innovation in HR technologies has helped transform the industry and as a result, has also helped individual organisations reach new levels of growth and productivity in many ways, including eliminating and reducing time theft.
Stop Time Theft
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Contact Info-Tech today and find out from our dedicated Australia-based team how we can help you reduce time theft among your employees and increase overall productivity in your organisation, using many of our state of the art Cloud Based HR and Payroll solutions.