What is Time Theft ?

 

Time Theft is when an employee accepts pay for time they have not worked. 

 

Is it My Problem?

Consider these facts:

  • According to the American Payroll Association the average employee steals 4 hours 5 minutes every week.

  • 74% of employers experience payroll losses from "buddy punching" (one employee signing in or out another employee)

  • Time theft losses can total as much as 5% of gross payroll

 

So What's a Few Minutes Between Friends? 

 

If an employee arrives 5 minutes late, leaves for lunch 5 minutes early, gets back 10 minutes late and leaves 10 minutes early at the end of the day that's a total of 30 minutes a day. That equals  2.5 hours per week or 130 hours a year. 

 

If the employee is paid $18 per hour the cost to you the employer, is actually $24.75 per hour, an annual time theft loss of  ($3,217)

 

 

 

 

 

 

 

And that's before you add payroll processing cost, errors, time disputes with workers and material cost.

 

Calculate your payroll costs with the payroll processing calculator

 

Those are serious numbers! What else could you do with that money?

 
(Problem) Solved in 2 seconds

 

PalmClock™ is the best biometric Time & Attendance system. It is the fastest, most efficient and easiest to use workforce management system in the world.

 

A scan takes just 2 seconds

 

Using Fujitsu PalmSecure® advanced palm vein scanning technology PalmClock™ records the arrival and departure of employees, visitors and vendors. Integrate with your payroll system for real time visibility. Automatically calculate overtime, set shifts and use it at remote job sites with the mobile capability. Lots of ways to use PalmClock™

 

It can't be spoofed, or fooled. No more lost, shared or forgotten ID cards, no more late arrivals or early departures. 

 

  • Eliminate buddy punching

  • Create an indisputable record of time & attendance

  • Reduce payroll processing expense

  • Increase revenue

  • Improve productivity

  • Improve compliance

  • Onsite/off site applications

  • Fully networkable; connect mutliple locations together for a common operating picture

 

Is the Fix more expensive than the Problem?

 

No. In fact PalmClock is very affordable, especially for small business. Pricing models are available that make it an Operating Expense, not a Capital Investment. Your accountant will love that!

 

Depending on the size and scale of your operation PalmClock™ pays for itself in 3 to 6 months and then makes a significant net contribution to the revenue stream. 

 

You might call PalmClock™  a timely investment !

 

Time & Attendance for the 21'st Century

If you employ 55 people the potential time theft loss is

($176,962)

If you employ 100 people the potential time theft loss is

($321,700)

If you employ 400 people the potential time theft loss is

($1,286,800)

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