March 29, 2016 / By Zip Clock / In Hubworks / Comments
What Are The Best Benefits Of Employee Time Tracking?
If you own or manage a business, big or small, then you know that employee time tracking is one of the most difficult tasks, especially without the right kind of time tracking solutions. In spite of this, employee time tracking happens to be among the most important element of a business. Without a proper time tracking system, it would be impossible to know what employees have been up to all day.
Employee time tracking involves tracking employee time while at the same time giving them the freedom to perform their tasks without hovering over them all day. When done the right way, employee time tracking makes projects run faster and more effectively.
Using time tracking software , as is the norm nowadays, has proven to be the most effective employee time tracking strategy where employers track time and attendance online using a modern time clock. Online time and attendance tracking comes with a lot of benefits, most of which have contributed to the bottom line of many businesses. In fact, a time clock (online version), is among various employee management software that have proven to be indispensable parts of most successful businesses out there.
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Let us look at some of the most important benefits of employee time tracking:
1. Improved Task Management
Just like any other business, your business has different tasks that need to be completed daily, weekly, annually, and so on. Employee time tracking software makes project management simpler and more effective, especially when a business can only afford a limited number of employees to work on different projects. By tracking the time employees spend on different projects, you will find it easier to create workable schedules and this will make it possible for your workforce to handle all tasks appropriately.
2. Improved Payroll Process
While it is true that online employee time tracking will enable you to track employee time more effectively, there is much more you can expect from your automated time clock. Online time tracking generates or creates timesheets, just like any other time tracking method, which the payroll department can use to prepare payroll. These timesheets, which are extremely accurate, are usually very helpful because they ensure that all employees receive accurate pay for all tasks performed, on time, and without any errors. For employees who work uneven hours, automated time clocks can eliminate the guesswork that is usually associated with variable hours thus ensuring that even such employees get compensated for each and every minute worked.
3. Improved Productivity
When employees know the importance of tracking their time accurately, it enables them to focus on their work more. They begin to reevaluate what they have to do, why they have to do it, and how much time they have to do it.
4. Improved Work flow
Employee time management will also give you a better idea on what is happening in your business as the owner or manager. It gives you a general idea of where you need to improve from a logistic point of view which is extremely helpful, especially for small businesses.
5. Reduced Costs
Business managers and owners are constantly looking for ways to cut costs so as to reduce their budgets and to improve their bottom line in general. By pointing out the areas that need improvement, employee time tracking makes it easy to correct inefficiencies and this eventually cuts back on wasted costs.
6. Improved Accuracy on Client Billing
The other important benefit that employee time tracking brings to a business is improved accuracy on client billing through an automated time clock. Online time tracking ensures that a business that bills or charges customers based on time does not overcharge or undercharge their clients. Overcharging a client through estimation can create problems. In the same way, undercharging a client will bring your profits down because you will be losing money every time you do so.
Fortunately, you can correct these two challenges with a good time tracking solution and both your employees and client will appreciate this.
In conclusion, before introducing online employee time tracking to your business, it is important to make them understand how they stand to benefit from the new system. Doing so will make them more open to the idea and you can expect to introduce the system without any resistance from their part. Some may still not embrace the system immediately, but with time, they will appreciate the gesture, especially when they begin to see the benefits it presents to them as employees.