Posted by Andrew on February 17, 2020
Nearly three-fourths of businesses experience a problem known as time theft, which is when an employee receives income for time he or she didn’t work. This isn’t like sick leave or vacation leave, as the employee informs his or her employer of those absences. With time theft, the employee takes the pay on the sly and the employer is often none the wiser.
Buddy punching is one of the most well-known forms of time theft and many employees don’t realize they’re doing anything wrong when they do it. Employees who are running late or need to leave a few minutes early will ask a coworker to punch in or out for them to avoid trouble with their boss. Most coworkers don’t view this as time theft but as one buddy doing another a favor.
A few minutes here and there may not seem like much, but time theft like this costs businesses across the country more than $373 million per year. For small businesses with numerous part-time employees, this could shake out to roughly $30,000 per year. Thankfully, businesses have a number of tactics available to them to prevent buddy punching:
Businesses, especially small businesses, can’t afford to lose thousands of dollars every year for work their employees never performed. Eliminating time theft like buddy punching can help improve attendance as well as boost businesses’ bottom lines. However, buddy punching can be a symptom of a much larger issue. Employees who arrive late and leave early can be a sign of a burgeoning absenteeism problem. Contact the experts at Actec to learn how we can help your business improve attendance and reduce absenteeism.