Time theft is one of the biggest challenges for employers of an hourly, distributed workforce costing over 400 billion each year in lost productivity.
Our presentation will cover:
• Types of time theft
• Developing a time theft policy
• Uncovering time theft with analytics
• Stopping Time Theft with Biometrics
• A demonstration of EPAYs Workforce Management
Join EPAY Systems as we cover a variety of techniques that will stop time theft and optimize your workforce.
3. 3
Agenda
• Common forms of time theft and best practices to prevent it
• Pros and cons of various biometric options
• Ways to identify potential time theft and operational problem sites
• A demonstration of EPAY time theft preventing tools
4. Who is EPAY Systems?
CHICAGO BASED
TECH COMPANY
PROVIDER OF COMPLETELY
UNIFIED, FULL SERVICE
HCM SOLUTIONS
SERVING HOURLY
WORKFORCE ENVIRONMENTS
INDUSTRY LEADER FREE PREMIUM
CUSTOMER SUPPORT
CUSTOMER RETENTION
FOUNDED 2001
UNIQUELY FLEXIBLE CLOUD BASED TIME &
LABOR MANAGEMENT TECHNOLOGY
24 HOURS/DAY
7 DAYS/WEEK,
365 DAYS/YEAR
75,000+ WORKSITES
99%
5. What is Time Theft
Top 3 forms of Time Theft:
1. Long breaks
2. Early/Late arrivals
3. Buddy punching
Time Theft: employees
getting paid for time
which they did not work.
6. $98B
Types of Time Theft
Buddy
punching
Early/Late
arrivals
Long
breaks
These 3 forms of time theft account for 98
billion in losses for U.S. employers.
7. Types of Time Theft
of your gross payroll
Buddy Punching alone
can account for
2.2%
8. The Big Cost of Time Theft
Time Theft was estimated to cost U.S. Companies
BILLION $in lost productivity
$400
9. 4 lost hours per week = 16 lost hours per month =
2 lost work days per month!
2 lost work days per month = 24 lost work days
per year =
nearly 5 weeks of lost work time per year . . .
PER EMPLOYEE
Do the Math
10. 10
Employee Time Theft Calculator
10
A Free Manual Timekeeping Solution Isn’t Free.
250
Total Minutes
per Day in Time
Theft
Total Hours per
Day in Time
Theft
Average Daily
Employee
Time Theft in
Dollars
Weekly
Human Time
Theft Payroll
Expense*
Annual
Human Time
Theft Payroll
Expense*
Average
Hourly Wage
of Hourly
Employee
$19 $237$79 $12,3504.17
*APA States employees without an automated time system steal 6 minutes per day. We’ve based our calculation at just 1 minute.
11. Create clear, specific time and attendance policies
Create procedures for enforcing your policies
Use time collection devices equipped with biometrics
Utilize good reporting and analytic tools
Battle Tactics
1
2
3
4
12. Communicate Oral and Written Time & Attendance Policies
Use employee manual to outline consequences of:
Tardiness
Cell phone use
Unauthorized breaks
Have employees sign manual as acknowledgement of
understanding
Update policies as new challenges arise
Clear Communication is Key
13. Put firm procedures in place when time and
attendance policies are not followed
Consider implementing Employee Points system
Automatically tally points for absences, late arrivals, early
departures as compared to the schedule
Can accumulate points positively or negatively
Can customize based on your companies policies
Enforce Your Polices
14. Biometric Time Clocks
Fingerprint recognition
Facial recognition
Mobile Time Tracking App
Facial recognition
Geo-tracking
Workforce Analytics
Get a quick way to identify punch exceptions across your sites including
potential forms of time theft
Utilize Time and Attendance Tools
15. A. Fingerprint biometrics
B. Eye or retina biometrics
C. Facial recognition biometrics
D. We currently don’t use any form of biometrics
15WWW.EPAYSYSTEMS.COM
What form of biometrics does your company currently use and
for what purpose?
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