Wondering where you can find extra money in your business? You may not have to look any further than your time clock. Yes, your business could be leaking money due to poor or nonexistent employee time tracking.
The facts
Paul Sedlak, Vice President of Business Development for ADP’s Small Business Services, explains that time theft is when “employees report time they may not have worked.” For example, “they’re supposed to start at 8:00 a.m. but punch in at 7:30 a.m., go grab their coffee, grab breakfast and then report to their desk at 8:00 a.m.. That’s one mechanism of time theft, but it can get padded on the back end, too.”
