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Are late employees effectively stealing from you?

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What happens when an employer is told their employee has stolen over $1300 from them in 12 months? When an employee is caught stealing, punitive action is taken immediately by the employer, processes are changed and new systems put in place to prevent recurrence of the incident.

But how many employers realise that employee lateness can lose them money just as quickly? However, tardiness is rarely treated with the same degree of swift and decisive action to stop it.

Consider this example:

Bob has 500 employees working for his company, with many earning Australia’s minimum wage of $17.29 per hour. Even if a single employee is consistently late by ten minutes every day, and takes an extra ten minutes for every lunch break, the cost of that stolen time at that wage is $5.76 per day. When calculated over 232 working days in the year, the total cost to the company for that lateness would add up to $1337.09 over the year. The employee might as well have stolen this amount from the employer.

Mitrefinch advises companies to take swift and decisive action by installing a Mitrefinch biometric fingerscan terminal that is designed to provide an accurate record of employees present and absent at the workplace. Once the time clocking system is installed and connected to the company’s network, it is configured to reflect the shifts, wages, hours, departments, work rules and individual employees.

There are plenty of efficient ways to tackle the issue of repeated employee lateness. Mitrefinch’s biometric finger scanners act to deter lateness by highlighting it when it becomes a recurring issue.

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