The contribution of the employees has a significant role in propelling the profitability of your company. Keeping a tab on when your employees are checking in and what time they are leaving for home is essential, but challenging if done manually. It can be messy and quite challenging to track your employees’ entry/exit time if you do not seek software solutions and automate the time tracking process.
Time tracking is crucial to decide if their salary/wage will undergo any deductions for coming late, doing a half-day or leaving the workplace early. Time theft accounts for the total loss of 11 billion dollars every year in the US. One can easily influence the information logged there, and human errors lead to wrong calculation of wages.
Unfortunately, several small companies and startups are still using manual timesheets to record their employees’ check-in and check-out time. Time tracking is necessary, but lack of automation causes wrong logging of information and miscalculation.
Let us now gear our attention to the prominent reasons behind the need to track the employees’ time. We will know why a business owner should track their employees’ time within the office premises.
Top reasons for time tracking
Better production and profitability
Multitasking (like using the phone and doing chit-chat with colleagues while working) is detrimental to your company’s progress and expansion. Time tracking alerts the staff against misusing their working hours on unnecessary things.
Manual time tracking wastes time. Productivity decreases by 80% by time, tracking daily manually.
Time tracking enables employees to track the progress of their work in a detailed manner. It enhances both the overall production of the company and its scope to fetch more profit.
Helps to set the objectives clearly
Time tracking enables you to prioritize the set objectives as per the approaching deadline better. Tracking time towards a specific task facilitates setting the goals clearly and keep confusion at bay.
It provides insights that support creating strategies that can help your employees stay in tune with the set objectives better.
Tracking time provides transparency
Work culture transparency is of high importance if you wish to encourage better employee engagement and keep their interest guarded. How much time each member of the team or department is working becomes visible with proper time tracking.
The employee can also keep track of how long she/he has invested in completing the assigned projects on a specific day. The staff can also learn about on which day she/he was late, how late it was, how much deficit the team needs to do to compensate for the late arrival or for leaving early.
You can reconsider and optimise the tasks that are very time consuming so as not to delay the general workflow.
Makes the staff more accountable
Time tracking reinforces accountability within and also among the employees. The manager can easily find which specific team member completed the assigned task by what time. How much time was taken in finishing the project helps to give an idea of how efficient the staff is.
Manual timesheet is impractical and outdated
Logging punch-in and punch-out time manually in timesheets is an ancient way to record employees time these days.l. It is impractical and also can be expensive. Employers and the HR managers face huge difficulties as they mostly require making huge adjustments at the end of pay period while processing the payroll.
Time tracking software is easy to follow, cost-effective and provides accurate time tracking data that you can access from anywhere and at any given time. Around 33% of employees clock in and out before or after than scheduled. With a time tracker, it will not be easy.
Cloud-based time tracking tools enable you and managers to access it on any of their devices (having a steady internet connection) like smartphones, tablets, laptop, desktop wallpaper etc.
Companies with branches at different destination need an automated time tracker
As we know that cloud-hosted time tracker allows accessing and updating the electronic timesheet from just anywhere, a company with multiple branches will find it immensely beneficial.
With working stations at geographically scattered places, informing the manager and supervisor about the task completion becomes somewhat tricky. The time tracking software eases the issue beyond doubts.
Now keep track of your employees’ working hours irrespective of their location.
Adjusting additional work becomes easier
Time tracking enables the manager and the employees to keep a basic idea of how much a specific teammate generally takes in completing an assigned task. It becomes easier to adjust the extra workload in between in a more judicious way then.
Schedule like a pro with time tracker software
Time tracker enables the project managers, and others schedule different business activities efficiently and strategically. How much time staff is investing in a given task or inside the office doing work will help the HR department calculate the payment without any error.
Not all employees spend their entire working hours (minus the break time) focusing on the given tasks only. Time tracker visually represents you the real scenario of who is working for how long indeed.
Time tracking using robust and feature-rich software will help your company save a considerable amount of money otherwise wasted due to inaccurate timesheet updating and miscalculations. Post Covid-19, many companies are allowing their employees to work from home. During this stressful period, time tracking software can be of immense help.
Time tracking will help you maintain a detailed record of each employees’ time invested in different projects. The list of reasons will be longer, and you need finding yours to start tracking without any delay.