While “Identity Thief,” scheduled for release on February 8th, makes fun of the issue of identity theft, it isn’t taken so lightly in reality. Undoubtedly the comedy is sure to bring a lot of laughter along the way, but when it actually happens in real life, it hurts badly. In fact, most businesses that do not use biometric time clocks often have to suffer from significant losses in the form of employee theft, particularly buddy punching. According to an estimate, proxy punching alone costs $98 billion in losses in the United States.
If you are running a business, make sure you are not a victim of employee theft, with some of your employees punching in on behalf of their friends. One of the best ways to prevent ghost punching is to use fingerprint time clocks, which can scan fingers of individual employees and easily identify them the next time they clock in. This can effectively prevent employee time fraud and save good money for your business.
Time and attendance clocks these days require employees to be personally present at the time of clocking in and out, thus preventing them from fooling the employers and avoiding wastage of time and loss of productivity, which otherwise amounts to hefty loss for companies.
Biometric time clocks record actual hours worked, thus saving businesses from time theft.