5 reasons why time tracking is important for your business
No matter how much you trust your employees, time tracking is one of the most crucial tools in running any business. Knowing what your employees are spending time on allows you to create strategies for your projects, arrange payroll, identify hiring needs, and more. You must know how to keep track of employees’ timing effectively and quickly. Here are 5 reasons why time tracking is important for your business.
#1 How to improve efficiency?
There is no doubt that any application or software that takes care of our needs automatically instead of tediously completing Excel or spreadsheets manually will have a positive impact on everyone. Using a time tracker will save hours of your work every payroll period, as well as giving your employees more time, since no evidence of working hours needs to be collected.
You will have the access to the overtime, lateness, unexpected absence, automatically counted and shown in a graphical overview which the employees will not argue about. And the employees don’t need to remember about signing the attendance lists, instead they can go straight to their tasks.
#2 How to keep employees accountable?
The latest social media updates, the news, chatting with co-workers, making phone calls – these are not even all distracting factors in the modern world, taking an hour or longer away from the task at hand. You have to be aware this time means you are losing money. Your employees may take a break more often than you even imagine, and with a time tracking tool they can’t leave the premises without being unnoticed.
It’s also an effective tool for the employees who tend to come to work late and leave earlier, as a time tracker will show you the overview of working hours, paid and unpaid breaks. Any lateness of early exits will automatically reduce any overtime. That’s how to keep your employees accountable and teach them to play fair.
#3 How to manage workloads?
A time tracking software is a great tool for tracking those employees who go above and beyond for the company, doing overtime every day, or every week. It’s not only the perfect tool to notice the employees who should have more appreciation from your side, but it may also help those employees who don’t feel comfortable telling you they have too many duties.
Try delegating the tasks of employees who have heavy workloads to those who finish earlier. This will benefit your business in two ways – the overworked employee will become more efficient, and the lazy employee will become more accountable.
#4 How to create time sheet automatically?
Thanks to a time tracker you no longer have to spend hours preparing a timesheet for payroll as the time and attendance errors will be automatically identified by the software. It ’s quite easy then to compare the hours worked by the employees to the scheduled ones.
A dedicated integration allows you to export all data to most popular payroll apps, including calculating total work hours, overtime, subtracting breaks, identifying all time off requests, and identifying unauthorized absences.
#5 How to eliminate buddy clocking?
Your employees may be trustworthy, but evidence should be provided to support that trust. In companies without time tracking, buddy clocking is so easy that employees may not worry too much about being late or to leave earlier.
To eliminate the problem, set the time clock to automatically take a photo of employees when they clock in and clock out, and that will never happen again.