Time, the most tangible and precious resource makes all employers want to know, where their employees time is going. Manually filled timesheets, which were too cumbersome and time consuming are now being replaced by Employee time tracking softwares which are able to record employee hours accurately, that too with much ease and with minimal possibility of error.
Time tracking usually is the first step and the base of proper management of time. Employee Time tracking should not be considered an invasion to privacy as it actually helps your team to timely complete the tasks assigned.
Below are Few Benefits of Employee Time Tracking:
1. Creates Better Workflows:
If employees time is tracked, they are more focused on the activities that contribute to complete their assignments on time.
Tracking time answers questions like how much time employees spend on submitting expenses and other reports, how one activity impacts the other and many more. It provides critical data to help towards operational improvements. Repetitive and mundane tasks are streamlined and automated. It also helps curb time theft.
2. Helps Understand Employee Utilization and Staffing:
Time tracking offers real-time visibility to know how effectively employee time is being utilized on various activities and projects. This helps employees perform better, organizations become more productive, and businesses more profitable.
Time tracking reveals if you should hire new resources, as it provides a real-time understanding of employee utilization and availability to take on new assignments.
It also makes better time estimates for next projects. This allows project managers and team leaders to create timely forecasts and estimates that ensure hiring at the right time, that results in maximum profitability for any job.
3. Effective Employee Performance Reviews :
Time tracking helps effectively know the performance of all your employees on daily basis thus enabling you to take timely corrective measures to ensure maximum employee productivity.
You are easily able to distinguish good performance as well as underperformance and can timely have a meaningful dialogue with under performers and also reward good performance leading to elated and dedicated employees.
Time tracking also helps you identify which teams or regions are the most or least profitable? This helps you take better decisions towards business excellence.
4. Ensures Overtime Compliance :
Effective time tracking ensures that all overtime hours are recorded properly, which makes payroll processing easy and fair. Failure to accurately track employee overtime can lead to a lot of problems and escalations, adding to a lot of unproductive time for many departments in the office.
5. Powerful Analytics:
MIS Reports feature available on the web interface of the time tracking application is just amazing. All reports can be customized, are very flexible, and can be exported to a number of different formats or other software. It empowers you with all up-to-date information, with little effort and no formatting nightmares.
This data offers immediate and powerful insights that drive operational excellence and increased productivity. By providing deep insights into the business analytics, organizations are able to identify hidden cost centers and under-performing employees and are able to take timely action to improve the situation.
One of the best time tracking software gives you the opportunity to streamline day to day operations, thus managing time efficiently leading to saving loads of man hours. It enables you to know, the whereabouts of your employees along with all the related information on their daily tasks and accomplishments thus helping achieve desired success.