What is Time Theft?
Theft of time goes by many names.
Buddy punching. Time fraud. Fraudulent punching.
And simply, employee time theft, are all common references to the same practice.
To be frank, time theft is stealing just as much as pick-pocketing.
The only difference is that employees who commit time theft don’t always realize that they are committing a crime…
Facts and Figures
According to the American Payroll Association, the average loss to time theft is 5% of a business’s payroll.
Annually that equals about $1,100 per employee. That’s similar to paying payroll taxes twice!
The loss on 5 employees is about $5,500 per year. And with 10 employees, it is like throwing away $11,000 per year.
$148 billion lost by U.S. businesses to time theft each year!
These are facts published by the American Payroll Association.
Learn more about these facts by watching the MinuteHound videos at: http://www.minutehound.com/videos
Examples of Time Theft
John is running late to work when he spills coffee in his lap and realizes there is no way he will make it in by 9:00am.
John calls his friend Robert in the next cubicle over. Robert then rushes over to John’s computer and enters John’s pin number.
Thereby making it appear as though John clocked in at 8:58AM. In reality John had to rush home and change his pants.
John did not really arrive at work until 9:32AM. Too bad for John’s employer. He just paid John for about 30 minutes of work that never occurred.
Lisa, Jackie, and Kelly are all out to lunch.
Jackie eats her salad quickly. But Lisa and Kelly leisurely sip their soup while chatting with others.
At 12:50PM Jackie announces that it’s time to return to work.
Kelly and Lisa say they’ll be in soon and hand Jackie their swipe cards.
Jackie swipes all three cards at 12:59PM. Thereby making it appear as though all three women returned from lunch on time.
In reality Lisa and Kelly did not get back to work until 1:37PM. But their employer paid as though they had returned at 12:59PM.
The next day Jackie felt guilty and refused to once again commit time theft by swiping Kelly and Lisa in to work.
Kelly and Lisa retaliated…
Biometrics Eliminate Time Theft
The most common biometric time clock technology utilizes fingerprint scanners.
The best biometric anti employee time theft device is MinuteHound.
MinuteHound utilizes the world’s most accurate fingerprint scanning technology.
MinuteHound allows you to be certain that the person clocking in is really who they claim to be.
No more swapping employee pin numbers to clock each other in.
No more sharing employee swipe cards in order to swipe each other in.
Eliminate time theft completely with MinuteHound!
-The Future of Time and Attendance-