Tips to Prevent Time Theft in Kronos Central/Dimension/Ready

A high-performing workforce management system, like Kronos, facilitates enterprises to forecast, schedule, and manage the time & attendance, absenteeism, labor activities, analytics, and collect employee’s data. Depending on the organization’s type and purpose, Kronos offers different workforce management suites like Workforce Central, Workforce Dimension Suite, and Workforce Ready Suite. The core objective of all of these solutions is to ensure maximum productivity by leveraging employee accountability, controlling labor costs, and increasing efficiency. But when it comes to time theft, it can cause some major issues and hamper the data’s accuracy and the effectiveness of the Kronos workforce management suites.

Time Theft and its Impact on Business

Time theft occurs when an employee is paid for the time they have not actually worked, or for the time they were not actually at work at all. Sometimes they will use friends and colleagues to help punch in his or her office attendance on their behalf, which can be defined as buddy punching.

According to the American Society of Employers, 20% of every dollar earned by a company is lost to employee time theft. Other sources also reported that U.S. employers are losing more than $373 million per year due to buddy punching alone.

Click to continue reading: Tips to Prevent Time Theft in Kronos Central/Dimension/Ready