As competition becomes stronger and operating costs increase, companies everywhere are continuing to look for ways to increase their profits.
As these companies go through their profit and loss statements, they are trying to find every last sliver of profit. They take each line item one by one, diligently scanning and analyzing them to determine which expenses can be cut.
Some of those easily overlooked items include worker's compensation claims and employees stealing time – two very serious issues for any business.
It goes without saying that eliminating the two above-mentioned items can provide immediate increases to the bottom line.
In the last couple of weeks here at USIA/VTS, we have assisted clients with adding to their bottom line by uncovering two false worker's compensation claims and three employees stealing time.
The worker's compensation claims were completed using surveillance and interviews. If both of these claims had to be paid, they would have reached an approximate total of close to $500,000.00.
Our guards then caught employees punching in at the start of shift and leaving for 8 hours, returning only to punch out. There were three employees who would punch in, go to a friends apartment, sleep, and return 8 hours later to punch out. They would then give cash to the supervisor on a weekly basis not to say anything to management.
This scheme was going on for a long time so no monetary value can be determined. But management is certain the theft ran into the high thousands.
The above two examples are things that USIA/VTS can come assist you with to provide a safer, healthier environment for your employees while increasing your bottom line.