Some startling and impressive facts emerged from the recent TechAmerica annual Cyberstates report. First, California is number one in the nation for technology employment with almost one million employees. That's a whopping number of workers. You can imagine the tech sector payroll in California is huge, and it is: $120 billion. California not only has almost one million tech sector workers, the Golden State also has the fastest rate of growth for tech workers. They are also among the highest paid in the nation. Technology workers in California technology workers earned an average pay of $123,900 a year. That number is undoubtedly driven up by successful IPOs for companies like FaceBook.
Considering the massive overall amount of money flowing between California tech companies, their employees and their customers, payroll tracking and timesheet technology better be airtight.
The Gold Rush ended a long time ago, but in today's world the shimmering lucre is in information flow, accuracy, efficiency and analytics. Levi Strauss was a big winner over 100 years ago, and today's winners are providing services to the risk takers all over again. Most of this work and technology is far from sexy, but it gets the job done better and better.
Is there potential for corruption in California? There is such potential anywhere there are large sums of money. Bellflower, CA had a payroll scandal several years ago, just to name one instance. There will be others, but with greater efficiency in time tracking and payroll accountability it may become more difficult to falsify employee documents.