Are Your Employees Stealing Time? The Cost of Time Fraud and System Gaming
You probably have mountains of data regarding your employees. But does it tell you what you need to know about employee practices – such as overstating time worked or punching in too early or too late – that could be costing you money? Every time an employee accepts pay for time he didn’t actually work, it represents a loss for your company.
Research shows the impact of payroll fraud and gaming the payroll system. Time fraud can average as much as 4.5 hours per employee per week – a cost of more than $5,000 per employee each year. And studies indicate that as many as 45% of US shift workers report their time inaccurately.
An automated workforce management system such as Workforce Go! can give you the visibility you need to spot these potential problems. With an automated solution, you can:
- Gain real-time visibility into employee hours to better spot and manage anomalies
- Eliminate manual time entry, which reduces time fraud
- Identify exceptions and provide guidance on how to address them
- Automatically and quickly notify managers of exceptions to payroll policies
Want to know more? Our fact sheet Workforce Challenge: Visibility Into Time Fraud and System Gaming shows what these activities could really be costing your company – and how you can avoid them. Click here to read more. And for more information about how Workforce Go! can give you the data visibility you need, call 214.800.5575.