If you are a small business owner, every dollar and minute is significant. Still, an unseen and unheard threat pursues your productivity and profits like a shadow: Employee time theft. On the surface, it\u2019s just an employee leaving a few minutes early. However, the big picture shows a staggering billion dollars in annual loss.\u00a0<\/span><\/p>\n Let\u2019s make it clearer with an example. According to biometrics, your employee left at 6:30 PM. However, their timesheet was manually logged out an hour later. Moreover, 50 minutes extra here and 20 minutes there can add up to 10-15 hours of monthly paid time stolen. Now, let\u2019s presume that a few employees are exercising this. That\u2019s an astounding ~$1100 annual expense.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n \u00a0If you are not cautious, time theft can cost US businesses ~$11 billion per year<\/strong>, accounting for 1-8% of an organization\u2019s payroll costs. Given the competitive international market, this leak draws the line between expansion and reduction. The bottom line is that you need to prevent time fraud effectively, ethically, and in line with global standards with knowledge and actionable insights.\u00a0\u00a0\u00a0<\/span><\/p>\n