Crack Down On Time Theft in 2015 with IQ:timecard
With statistics showing that companies can save a substantial amount of money by stamping out time theft and ‘buddy punching’, IQ:timecard is encouraging more businesses with remote employees to explore the possibility of a new time and attendance solution for 2015.
Research has found that time and attendance solutions which crack down on time theft can save companies between 2%-5% of their total payroll cost – and IQ:timecard is the ideal solution for businesses looking to trim their budgets and abolish the practice of buddy punching once and for all.
‘Buddy punching’ is a phenomenon that usually occurs in workplaces without a concrete time and attendance solution in place. Colleagues can encourage one another to clock in on their behalf if they’re running late for any reason – so employers think they’re working when they’re not. This is technically theft and is illegal – but it’s a common practice in workplaces across the UK, and it’s costing SMEs in a big way.
IQ:timecard is an electronic call monitoring solution, which uses calls from remote employees to clock them in and out of every client location they attend. Whether they’re contract cleaners flitting between commercial venues, or domiciliary care workers travelling to various different clients’ homes, the time and attendance solution can track every employee’s timekeeping and ensuring that they only get paid for the hours they work.
David Lynes, Director of IQ:timecard, says, “Time theft is a real problem for many smaller businesses which can’t afford to be paying staff for hours they weren’t really working. IQ:timecard helps to stamp out time theft and buddy punching with a simple system – employees can only check in from client locations, and when they do, the call and the location are both logged in the system. Colleagues can’t check on behalf of one another, purely because the system would pick up that they weren’t at the designated location.”
He adds, “Of course, there are more sophisticated biometric time and attendance solutions out there, which use fingerprints or eye scanners to totally cut out buddy punching altogether. But these systems are incredibly expensive – probably more so than the amount lost to time theft in the first place!
IQ:timecard represents a cost-effective solution that puts the power back in the hands of the employers. Workers cannot lie about their whereabouts, and if they’re running late and haven’t clocked in, employers can be notified immediately, so that they can coordinate an appropriate response.