Shocking news from the American Payroll Association and Robert Half International indicate that employers lose up to 4.5 hours per week per employee due to rounding, buddy punching and time theft. One recent study estimated that US employers lose more than $400 billion per year in lost productivity due to time theft. The longer rounding, buddy punching and other forms of time theft can grow unchecked, it becomes increasingly difficult to stop without a complete system change.
PHOENIX – May 7, 2015, As the job market improves, many small to mid-size companies are finding it harder to hire employees with the skills they need, according to a survey of 423 executives at mid-tier organizations by TAG Employer Services.
Asked if they agree or disagree with the statement…We face a growing shortage of people with key skills…69% of the respondents strongly agree or somewhat agree. Only 8% strongly disagree.
It turns out mid-market companies have a lot of the same concerns that smaller companies do.
Chiefly, such companies, typically defined as having revenues between $50 million and $1 billion, are worried about having access to enough qualified employees, according to TAG Employer Services, an Inc. 5000 company that provides administrative services like payroll and health care benefits to mid-tier companies.
TAG surveyed 400 mid-market company executives between early November and early December about top concerns for the coming year. The companies had, on average, 200 employees or fewer.