Would it come as a surprise to you that 1/3 of employees are stealing at work? If you are reading this at work look over your shoulders and think about that statistic. Who do you suspect is the biggest thief in your office?
A recent study by the Workforce Institute has revealed that 1/3 of workers are stealing time from their employers. Is that surprising? Most workers are actually surprised that the rate is not higher. But when you calculate the significant cost that workplace time theft is costing companies, and in such a critical financial time, it really is one of the most pressing issues for business owners to consider. So how exactly are employees stealing time?
Many human resource departments use traditional employee card controlled time clocks to record and collate staff work hours. These basic systems have been used for over half a century to simplify payroll procedures, but they have also been misused by dishonest employees. The workplace endemic of “buddy punching”, whereby an employee will 'clock-in' for an absent staff member has provided a loophole for workers to steal time from their employers.
As technology has advanced time clock manufacturers have introduced web based applications to monitor staff work hours. Staff members login when they start and finish their shift and the data is collected automatically. In order to provide a user-friendly experience time and attendance manufactures also provided mobile apps for users to login into. Unfortunately this avenue has also been misused, as reports have arisen of workers logging into the system on their phones while out drinking coffee, from at home and even while at the cinema watching a movie during an extended break. So what options are left for businesses looking for a simpler and accurate way to monitor and record staff work hours?
The answer lies at the tip of your finger. Time and attendance manufactures have developed biometric enabled time clocks which have eliminated the risk of time theft for businesses. Using fingerprint and facial recognition technologies the latest time clocks ensure that accurate work hour data is collected. Utilising the uniqueness in verification using one's own physical traits has provided the latest weapon in the fight against time theft for businesses.
An additional benefit of biometric time clocks is that they are incredibly user-friendly and efficient. No longer will staff have to be distracted from their main job tasks to focus on filling out a time sheet, instead a simple press of their finger on a biometric time clock and their data is wirelessly transferred and synced with a central processing unit. Workers are no longer required to remember passwords and IT departments will not be distracted with hundreds of “forgotten password” requests.
As companies face ongoing pressures to reduce overheads and increase profits, the advancements in time and attendance technologies has provided an efficient weapon in the fight against time theft.