{"id":1024,"date":"2011-07-19T09:00:16","date_gmt":"2011-07-19T13:00:16","guid":{"rendered":"https:\/\/www.m2sys.com\/blog\/?p=1024"},"modified":"2022-11-16T03:44:28","modified_gmt":"2022-11-16T08:44:28","slug":"it-takes-a-few-seconds-to-lose-billions-the-numbers-tell-the-story","status":"publish","type":"post","link":"https:\/\/www.m2sys.com\/blog\/workforce-management\/it-takes-a-few-seconds-to-lose-billions-the-numbers-tell-the-story\/","title":{"rendered":"It Takes a Few Seconds to Lose Billions – the Numbers Tell the Story"},"content":{"rendered":"

The problem of employee time theft and how to rectify it is starting to gain traction with employers across the world.\u00a0 As we pointed out in a recent White paper about eliminating time theft and increasing profits with PC-based biometrics<\/a><\/strong>, employee theft directly causes 1\/3 of all corporate bankruptcies in the U.S. and of the many ways that employees bilk their employers, time theft is often considered one of the most preventable<\/a><\/strong>.\u00a0 In a fiercely competitive global economy where employee efficiency and productivity are often key catalysts in the success or failure of a business, this is a particularly important subject to understand and address.<\/p>\n

At its core, time theft doesn\u2019t appear to be an overly egregious violation.\u00a0 An employee shows up a few minutes late for work, takes 2 extra minutes for lunch or on a scheduled break each day and no one notices or really cares.\u00a0 After all, what\u2019s a couple of minutes of lost time going to mean in the grand scheme of things, especially if they work for a company that realizes billions of dollars per year in revenue?\u00a0 Breaking down the numbers can provide a closer look at how much a few seconds or a few minutes can add up over the long term, as reported in our White paper:<\/p>\n

\u201cEmployees<\/em> taking lunch breaks just 15 minutes past their allotted time can equate to about an extra day of vacation per month, every month.\u201d<\/em><\/p>\n

\u201cIf every employee in a 100 employee organization took a 15 minute extended lunch each day, that would equal 1,200 free vacation days per year.\u201d<\/em><\/p>\n