According to the SHRM.org article, A terminated employee has not returned company equipment. Can the employer hold the paycheck until the equipment is returned, or deduct the cost from the final pay? “An employer cannot withhold a terminated employee’s paycheck until equipment is returned.” So, what is the best solution? Not retrieving company issued computers and other assets is not only a significant cost, but also a security concern. Protecting the company’s intellectual property and company assets is paramount. But what is the best method of retrieval? Many companies are making no attempt to retrieve their assets while others are sending, pre-paid, self-addressed boxes to the terminated employees with a request for them to mail back the company assets. However, many companies are reporting less than 40% of the equipment successfully returned through this method.
TimeSquared Concierge has launched an equipment retrieval division to recover company assets from terminated employees and deliver to remote working new hires. TimeSquared serves the entire United States. There is no set up fee and no monthly minimum. Companies are charged monthly for time spent at an hourly rate.