How 30 Percent of Your Employees May Be Stealing From You
A survey by Kessler International reveals that over 30% of employees in retail and service industries admit to inflating their work hours through early clock-ins, late clock-outs, and buddy punching, resulting in significant payroll losses that Swipeclock aims to prevent with its WorkforceHub platform and related time-tracking solutions.
According to an anonymous survey conducted by Kessler International, over 30% of employees in various retail and service industries confess to padding their time at work.
Top Ways Employees Inflate Hours
- Willfully clocking in early
- Intentionally clocking out late
- Buddy punching (having someone else clock in or out for them)
These three forms of employee time cheating account for an average of 4.5 hours per week, per staff member, of unrealized time being cataloged.
Example:
In a company with 5 employees, each working at $10 per hour, this can cause over $11,000 in overpaid payroll, which is lost earnings for your business.
How to Prevent Time Theft
Swipeclock offers solutions such as TimeWorksTouch and PunchLogic to help keep more accurate records of staff member time and avert the costs associated with early, late, and buddy punching.
WorkforceHub is a fully-integrated platform that includes TimeWorksPlus, TimeSimplicity, and TimeWorks Mobile. It is designed for busy employers who need to streamline scheduling, automate time and attendance tracking, maintain regulatory compliance, and reduce labor costs.
Employers can get started with WorkforceHub immediately and request a demo to see how these solutions can help optimize the performance of managers, employees, and the business overall.
For more information, contact Swipeclock at 888.223.3450 or request a demo.
If you are interested in becoming a reseller, you can learn more about the Swipeclock partner advantage.
Related
Case Study: Hotel Workforce Management
A small 45-room ski resort hotel owner, facing competition from a large budget chain, gained a competitive edge by adopting WorkforceHub's TimeSimplicity scheduling and TimeWorksPlus attendance tools to reduce labor costs, streamline scheduling, accommodate employee preferences, and improve workforce management efficiency, enabling her to attract better staff and avoid hiring additional managers despite business growth.
Time and Attendance Systems for Small Business
The content outlines how small businesses can improve efficiency, accuracy, and compliance by using online time and attendance systems that track employee work hours and locations in real-time, integrate with payroll, enforce labor regulations, and utilize technologies like intelligent and biometric timeclocks for secure and precise timekeeping.
When Starting Your Small Business, Use TimeWorksPlus To Keep Costs Low
TimeWorksPlus, an affordable and user-friendly employee timekeeping system by Swipeclock, helps new small business owners reduce overhead by lowering administrative payroll costs, minimizing costly payroll errors, and preventing widespread employee time theft such as buddy punching and time card padding.
Experience Award-winning TimeWorksTouch Technology
TimeWorksTouch, recognized by the Technology Excellence Awards for its innovative design and functionality in time and labor management, features PunchLogic technology that enhances payroll accuracy by intuitively guiding employees through logical clock-in/out options, integrates with Swipeclock's WorkforceHub HR solution, and aims to streamline time and attendance processes for small businesses.
3 Easy Ways to Reduce Labor Costs With Automated Workforce Management
The article explains how using WorkforceHub’s automated workforce management system can significantly reduce labor costs by preventing employee time theft such as buddy punching, minimizing administrative time spent on manual timesheet processing, and controlling expensive overtime through customizable alerts, ultimately providing a strong return on investment compared to traditional paper timesheets.
Swipeclock: PunchLogic Prevents Punch Errors
Swipeclock's WorkforceHub, featuring the innovative TimeWorksTouch with PunchLogic technology, enhances time and attendance management by preventing punch errors through intuitive, context-aware clock-in/out options, thereby increasing payroll accuracy, reducing labor costs, streamlining HR processes, and ensuring compliance for businesses seeking to improve productivity and efficiency.