According to an American Payroll Association study, more than 75% of companies lose money from buddy punching. In fact, the average employee steals 54 minutes each workday. Time’s a-wastin’ – literally! Take back control of your time data today.
Infographic
Time to Fight Time Theft
Key Takeaways
- “Buddy punching” happens when an employee clocks in or out for another employee. It’s a common form of time theft in companies lacking an automated time management solution, and it’s a form of fraud.
- In fact, 54 minutes are stolen by the average employee per day, adding up to 4.5 hours a week, which translates to six weeks of vacation a year.
- 21% of hourly employees admit to stealing company time through methods like buddy punching, clocking in/out earlier or later than scheduled and not clocking out for lunch and breaks.
- Employers annually lose $230 billion to time theft and lose $400 billion in productivity.
- By automating time management, Paycom helps you more accurately manage when, where and how your employees report their hours worked, improving efficiency and accuracy.
To learn more, download the Time to Fight Time Theft infographic.
Key Takeaways
- “Buddy punching” happens when an employee clocks in or out for another employee. It’s a common form of time theft in companies lacking an automated time management solution, and it’s a form of fraud.
- In fact, 54 minutes are stolen by the average employee per day, adding up to 4.5 hours a week, which translates to six weeks of vacation a year.
- 21% of hourly employees admit to stealing company time through methods like buddy punching, clocking in/out earlier or later than scheduled and not clocking out for lunch and breaks.
- Employers annually lose $230 billion to time theft and lose $400 billion in productivity.
- By automating time management, Paycom helps you more accurately manage when, where and how your employees report their hours worked, improving efficiency and accuracy.