3/1/2023 0 Comments Icon time timeplusTime theft could also be a sign of a problematic work culture at your organization. They might see others do it, for example, and believe this is simply par for the course. Often, time theft is not malicious - employees may not even realize what they’re doing is wrong. In fact, it costs businesses millions of dollars per year.īe in mind that time theft does not describe sanctioned breaks, such as lunchtime unless an hourly employee is reporting this as time they’ve actually worked. While it may sound innocuous - 15 minutes here, another 20 there - it can add up and have serious consequences, especially when the problem is so pervasive across a wide variety of companies and industries. It can occur deliberately or inadvertently. This can take many different forms, from clocking in early or clocking out late to spending work time on personal activities. Time theft is time for which an employee receives payment that they didn’t actually work. So, what can you do about it? What is employee time theft? Even when employees inflate their working hours by just 15 minutes a day - which more than half of employees report doing, also according to TSheets - this issue can be costly both monetarily and morale-wise. Time theft, although often unacknowledged at work, is a serious problem for employers. The respondents also estimate that the average cost of time theft is roughly 5% of their gross payroll costs. Ninety-two percent of employers have a time theft issue, according to a TSheets by QuickBooks survey of 242 accountants and bookkeepers who work with clients regularly.
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