Time Theft: Is your company a victim?

In an effort to accurately track employee attendance and avoid the problem of time theft, many companies are upgrading to the more accurate and efficient biometric time clock. If you are afraid your company is losing valuable money to time theft, then biometric time clocks may be your answer.

In 2009, a study by Harris Interactive Inc. was conducted to determine the extent of time theft in the workplace. Twenty-one percent of the employees interviewed admitted to stealing company time. Still don’t think it is happening at your company? Of those who admitted to time theft, sixty-nine percent claimed to punch in or out earlier or later than scheduled. Twenty-two percent added additional time and fourteen percent did not punch out when taking unpaid lunches or breaks. This sort of fraud is a form of theft and costs companies real money.

In the United States, lawsuits concerning wage-and-hour conflicts are on the rise. In 2011, over 7,000 cases were filed and these numbers are increasing every year. The use of biometric time clocks provides employers with accurate records that can be used to help them fight unfounded complaints from employees of unpaid wages.

Biometric time clocks come in three forms: facial recognition, fingerprint tracking and vein-pattern scanning. Because these time clocks require that your employee be present at the time clock to punch in or out, it virtually eliminates time theft and creates digital time sheets that cannot be altered by an employee. Tracking your employees’ time through digital logs proves that employers paid their employees for the time they worked and provides a digital audit trail, as well.

The biggest hurdle to implementing any biometric time clock system is the employees’ concerns about “Big Brother” and what might happen to the information gathered by these systems. But you can put your employees’ mind at ease. When using a biometric time clock, no actual picture or fingerprint is recorded in the process. For example, when your palm is being scanned for vein-pattern recognition, the scan identifies specific features of your palm and translates them into a numbered code. That code then corresponds with that employee’s ID number. Because there is just a numbered code saved in the system, there is no information that can be stolen and used for identity theft.

These new, safe and secure technologies are now readily available for businesses big and small at affordable and cost effective prices. A biometric hand reader or facial scanning terminal offers secure punching with extreme accuracy – completely eliminating so called ‘buddy punching’, a popular form of time theft, and is considered the best verification in the industry. Advanced biometric systems now have verification in less than one second with many other additional features, users and employees; unlimited departments, pay policies, and schedules.

This helpful business advice was sponsored by Allied Time.

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