In the world of business, time is money. Every minute an employee is on the clock but not actively working is a minute your company is losing profits. This lost time, known as time theft, can come in many forms, from extended breaks and personal errands during work hours to the more blatant practice of buddy clocking.
Buddy Clocking, where one employee clocks in or out for another who isn’t present, is a particularly insidious form of time theft. Not only does it directly steal from your company’s payroll, but it also creates an environment where dishonesty is tolerated, potentially leading to further problems down the line.
The Staggering Cost of Time Theft
Buddy Clocking’s Impact
The Solution: OLOID's Time Clock
To combat time theft and buddy clocking, businesses need a reliable and secure time-tracking solution. This is where OLOID’s Time Clock comes in. The OLOID Time Clock is a contactless time-tracking product that uses facial recognition, access cards, QR codes, and NFC for employee authentication. It eliminates buddy clocking and time theft by using facial authentication with liveness detection. This system integrates with existing time and attendance, payroll, and other HRIS systems. It is software-based and does not require any custom hardware.
The Benefits of OLOID's Time Clock
By implementing OLOID’s Time Clock, businesses can experience a range of benefits, including:
Elimination of Buddy Clocking: The facial recognition technology ensures that only the authorized employee can clock in or out.
Accurate Timekeeping: Real-time data provide accurate records of employee work hours.
Increased Productivity: Employees are more likely to be productive when they know their time is being accurately tracked.
Cost Savings: By reducing time theft, businesses can save significant amounts of money on payroll expenses.
Improved Morale: A fair and transparent time-tracking system can boost employee morale and trust in management.
Take Control of Your Time and Money
Time theft and buddy clocking are serious problems that can drain your company’s resources and create a toxic work environment. With OLOID’s Time Clock, you can take back control of your time and money, ensuring that your employees are paid for the hours they work and fostering a culture of honesty and accountability.
Contact us today to learn more about how OLOID’s Time Clock can help your business thrive.
