“Hey Buddy -You Sure Throw A average Punch”
What is “Buddy Punching” and why should I be concerned about it?
We may hear these words and immediately conjure up images of a street fight, Ultimate Fighting match or two boxers going toe to toe. However, what we are truly examining is the occurrence of “buddy-punching,” where an employee will manually punch in for another employee who is tardy or absent from work. It is a disturbing and incendiary workforce practice that decimates productivity, return on investment (ROI) and bottom line profits of many businesses throughout the world. If you are in Human Resources or the individual responsible for tracking the whereabouts of your hourly or contractual employees, do not scoff at the idea of buddy-punching and think, “No way, no how would that ever happen to me with my vigilance at keeping track of my employees,” consider this: according to a study by Nucleus Research, a global provider of IT advisory and research sets, 74 percent of organizations experience payroll losses directly related to buddy punching. Nucleus also found that organizations can save 2.2% of gross payroll on average by eliminating buddy punching by the use of biometric time clocks.
Direct Benefits of Biometric Time-Clocks
Increasing employee productivity is a boon to profits and achieving high output gains. In tough economic times, companies expect more productivity per unit of labor input from their employees to continue economic strength and viability. Buddy punching undermines the ability of a company to maximize ROI, precisely forecast strategies for future growth and continue faith in the integrity of their workforce. The implementation of a biometric time clock eliminates the possibility of one employee punching in for another and safeguards your business against fraud and waste by requiring each employee to examine their finger on a USB fingerprint reader or fingervein reader to clock in and out.
Cost and Implementation of a Biometric Time Clock
Anytime you utter the information “biometric” in the same sentence as “solution” those who are unfamiliar with what biometrics truly is tend to roll their eyes and closest dismiss it as too expensive, an infringement of their personal privacy or too difficult to implement and continue. The truth is that having a biometric time clock is extremely easy to set up and nearly maintenance free, a lot more affordable than you may think and does not store an image of the fingerprint or fingervein on your server. A quality biometric time clock system will allow a company to implement an affordable different to capturing employee’s time and attendance data by a wall mounted time clock and maximized security over card scanning systems. The long term ROI increases by tighter accountability and a downturn in fraud by buddy punching greatly outweigh the initial investment on this modernized technological time and attendance mechanism. In addition to nearly eliminating buddy punching, a biometric time and attendance solution can also help prevent identity fraud, protect secret information and eliminate human error in time and attendance calculations.
Biometric Technology Rapidly Expanding
Time and attendance biometrics is a technology that is being rapidly adopted across many industries across the globe with proven results by increased ROI. Time and attendance biometric solutions are considered to be one of the most accurate, cost saving, efficient ways a business can optimize this basic facet of their operations and ensure the highest degree of confidentiality for their employees. So if you are nevertheless relying on an outmoded punch clock to track the time and attendance of your employees or if you have recently uncovered a sinister insider buddy punching campaign, you may want to consider adopting a biometric time and attendance solution to save you money and peace of mind while considerably boosting ROI and productivity.