Don’t be deceived by the oh-so-innocent look on their face. Some of your employees may be guilty of having participated in what is commonly known as “Buddy Punching.”
What is buddy punching?
Buddy punching occurs when an employee is "punching" the time card on behalf of their buddy, another employee who is late arriving, early leaving or absent from work that day. Buddy punching allows and employee to be absent from work without consequences.
How does this affect your company?
- Decreases productivity
- Decreases return on investment (ROI)
- Decreases bottom line profits
- Complicates Workforce Management
A global provider of research and advisory services, Nucleus Research, recently conducted a study and discovered that 74 % of organizations experience payroll losses directly related to buddy punching. These losses can amount to billions of dollars a year!
Is there a solution?
Fortunately, yes!
Nucleus Research found that organizations can eliminate buddy punching by implementing biometric time clocks, and as a result save an average of 2.2% of gross payroll annually. Biometric terminals identify the employee by scanning their finger or hand as they are clocking in, thus making it impossible to get away with buddy punching.
Therefore, safeguard your business against fraud by implementing biometric time clocks and realize savings of 2.2% on your gross payroll annually.
To learn more visit our website.
Punch Buddy! No Punch Back.
Don’t be deceived by the oh-so-innocent look on their face. Some of your employees may be guilty of having participated in what is commonly known as “Buddy Punching.”
What is buddy punching?
Buddy punching features an employee "punching" the time card on behalf of his buddy, another employee who is late arriving, early leaving or absent from work that day. This practice enables employee absence without consequence.
How does this affect your company?
- Productivity goes down
- Return on investment (ROI) is reduced
- Bottom line profits decrease
- Workforce Management becomes complicated
According to a study by Nucleus Research, a global provider of research and advisory services, 74 % of organizations experience payroll losses directly related to buddy punching. This amounts to billions of dollars in losses per year!
Is there a solution?
Fortunately, yes!
Nucleus Research found that organizations can save an average of 2.2% of gross payroll by eliminating buddy punching through the use of biometric time clocks. These terminals identify the employee by scanning their finger or hand as they are clocking in, thus making it impossible to get away with buddy punching.
TimeTECH offers a variety of affordable biometric time clocks that will safeguard your business against fraud. Deployments save businesses an average of 2.2% on gross payroll annually.
To find out what your company can be saving, contact TimeTECH for a detailed ROI estimation, or request a custom online demo.
