Do the math below to see how much your company may be losing. The costs for this can be harmful to a small business over time since the average amount of time stolen each pay period is 4.5 hours per employee (per a Robert Half International study). In one study by Intuit, 49% of employees admitted to committing time theft. Do you have this problem? If you have employees, then you likely are experiencing some level of time theft.
10 minutes here and 20 minutes there add up to big losses over time. Over $400 Billion per year are lost in productivity due to worker time theft according to a report in the Boston Globe and Denver Post. Employers pay the price via inflated payroll and lost productivity. Time theft occurs when an employee is paid for work they have not actually done, or for time they were not actually at work.įrom manipulating time sheets to using work time for personal time-whenever employees are on the clock but not on the job, they’re stealing time. Furthermore, we’ll discuss ways to prevent time theft. In this blog, we’ll outline different ways workers in construction steal time and submit false timesheets which add up to a huge loss in productivity for the company. Find out how your crews might be stealing time and what you can do about it.
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