The Cost of Buddy Punching and Time Theft on Your Business

Did you know, the American Payroll Association estimates that:

Over 75% of companies lose money from buddy punching.
Employees reported stealing roughly 4.5 hrs/week – the equivalent of 6 weeks vacation!
In total, buddy punching accounts for approximately 2.2% of gross payrolls.

Let’s calculate your potential savings with TimeCom for BambooHR!

Step 1: Input Your Data.

Number of Employees
- Enter the total number of employees in your business.
Hourly Rate
- Input the average hourly wage paid to your employees.
Average Hours Worked
- Enter the total number of hours per employee per week.
Estimated Percentage of Buddy Punching / Time theft
- Estimate the percentage of total hours you believe are lost to buddy punching or time theft each month.
- Choose from 1% to 8%, representing the typical range of impact buddy punching might have on your business.

Step 2: Your Potential Savings

The calculator will automatically calculate the annual cost of buddy punching or time-theft based on your data entry. Your potential savings are calculated in the summary section.

Get Rid of Time Theft Troubles

Time theft occurs when employees are paid for time they have not worked. Time theft occurs when:

Employees clock in earlier or clock out later than their actual work hours.
Workers extend paid break time by clocking in or out outside the allowed time.
Workers “shorten” an unpaid break by clocking in or out at the wrong times, despite staying on break for the allotted time.
Colleagues engage in “buddy punching,” where one employee clocks in or out for another who is not present.
Employees inflate their hours on timesheets when self-reporting hours worked.

The impact of time theft on the business can be significant:

Financial Loss: Companies pay for unworked hours, directly affecting their bottom line.
Reduced Productivity: Time theft often results in less work being completed during paid hours.
Unfair Work Distribution: Honest employees may end up shouldering more responsibilities, creating resentment and a poor work environment.
Increased Administrative Costs: Company resources are spent reviewing attendance and payroll records to identify and resolve cases of time theft.

“Disclaimer: Time-Theft Calculator Results: The results provided by this online time-theft calculator are intended for informational purposes only. These calculations offer an estimate of potential time-theft impact on payroll based on the data input. However, it is important to note that:

The results are not a guarantee of actual savings or losses.
Real-world scenarios may differ significantly due to various factors not accounted for in this simplified calculation.
This tool should not be used as the sole basis for making business decisions or implementing policy changes.
For accurate assessment and actionable insights, we strongly recommend consulting with professional time and attendance management experts or conducting a thorough internal audit.

By using this calculator, you acknowledge that the results are approximate and for informational purposes only, and should be used only as a general guide. Accu-Time Systems, Inc. is not responsible for any decisions or actions taken based on the information provided by this tool.