If your company’s time tracking system is out of date and you still use paper and a clock to determine the hours worked, some employees may be stealing time. A colleague filling out a friend’s timesheet is not uncommon… there are many ways to steal time at work.
Unfortunately, time theft costs businesses a lot of money and affects productivity. In fact, according to some studies, time theft at work can represent up to around 7% of a company’s total payroll. This is a considerable percentage, especially when you consider that small businesses can spend up to 50% of their gross income on payroll costs. For example, if your business generates $ 200,000 this year and $ 100,000 goes towards salary costs, time theft could cost your business $ 7,000. This reality becomes all the more important as your turnover increases.
Aside from losing money, you also have to consider the effect on productivity when employees don’t respect their scheduled hours. For example, if your team stops working 15 minutes early each day for two weeks, you lose 2.5 hours of productivity per worker. If you multiply that lost time by months and factor in very long breaks, you could be paying employees for weeks of work (not worked).
Time theft is any instance where a worker accepts payment for time not worked. This is a significant problem in virtually every industry. Your employees can steal time without knowing it, either by forgetting the specific hours worked or by adding 15 minutes to their timesheet here and there. However, they can also voluntarily steal time.
Here are different types of time theft:
The good news is that time theft can be reduced, if not completely eliminated. Here are some solutions to help you eradicate this problem:
The Mobile Punch app is an all-in-one solution to simplify timesheet management, form production, schedule planning, and project tracking. Among other things, it allows you to:
Passwords are a great way to improve the security of your time tracking system. This way, only the employee in question can record his/her hours worked. He cannot ask a coworker to “punch in” for him if he/she arrives late. With the Mobile Punch app, your employees have an individual account as well as a unique PIN code to log in.
GPS tracking allows employers to track their employees in the workplace. Staff geolocation is particularly advantageous for companies with mobile teams. Mobile Punch’s geolocation feature allows employers to validate the presence of their workers in the field, but also to calculate working hours precisely.
Mobile Punch is the ideal solution for employers who have teams that travel to see clients, projects or job sites, but also for those whose workers have only one workplace. The geolocation feature offers several advantages in terms of route optimization, task assignment and resource allocation.
Why is employee geolocation important?
The Canada Labour Code requires that Canadian employees receive at least the minimum wage of $ 11.06 per hour (2020). It also stipulates that employees who work more than 40 hours per week must receive compensation for overtime. A 50% surcharge must be applied to overtime.
The Mobile Punch app ensures that workers are paid for every minute they work. In addition, it requires employees to approve their hours worked and overtime so that there is no disagreement.
The adoption of an automated time tracking system also protects employers against fraud by allowing the elimination of human errors and the verification of hours worked. The application allows you to review archived digital records as well as overtime reports.
Ditching paper-based time tracking and integrating a mobile punch app helps you lower your payroll costs and improve your productivity. The Mobile Punch application offers you a variety of features to propel the sustainable growth of your business:
Mobile Punch helps thousands of businesses based in Quebec and Canada save significant time and money. If you want to know more about our services or if you have any questions, please do not hesitate to contact us.
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Mobile-Punch saves thousands of companies time and money. Call us to find out how we could do the same for yours!
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