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Reasons Why You Need a Work Hours Tracker for Your Company

Reasons Why You Need a Work Hours Tracker for Your Company

Reasons Why You Need a Work Hours Tracker for Your Company

In today’s economic climate, making a business of any size work is not a small feat, in fact for many it is a challenge too far. Statistically, a new business is most likely to fail within the first 12 months of operation. Get past this stage and things are looking good, but get past 24 months and you are far, far more likely to make it. Running a business of any size is no small feat, especially when you consider the fact that there are so many different elements to focus on. A business however, is only as strong as its employees, which is why it pays to help make them be more productive in the workplace. But how can one go about doing that? Well, in reality there are many proven strategies aimed around boosting employee productivity, though integrating a new work hours tracker is certainly up there as one of the most effective. Work hours tracking, also known as time tracking, has helped countless businesses all over the globe boost employee productivity and morale, while simultaneously saving money and increasing profits in the process. But why does your business need a work hours tracker? Well, let’s take a look, shall we?

Key advantages of a work hours tracker

Time tracking software is an incredibly useful business tool to have at your disposal. In fact, many businesses out there literally credit it for saving their businesses and making them a success. A work hours tracker not only functions as an effective scheduling tool, it also serves as a fantastic record for how many hours your employees have worked, when they’re due time off, when they may not be eligible for time off, and much more besides. With that said, here’s a more detailed breakdown of some of the key advantages associated with integrating a work hours tracker as part of your business strategy:

Enhance business quotes and estimates

No matter what line of work you are in, chances are you will have to provide a series of quotes and estimates to your customers, and potential customers in a bid to gain their business. After all, without customers there will be no money, and no money means no business. When providing quotes and estimates, although these are not always going to be exact figures, if you want to make an impression and keep the client happy, it’s essential that you ensure your quotes and estimates are as accurate as possible. The last thing you want is to provide a quote for a job to a client, only to find that once you complete the job, you vastly underquoted and therefore have to charge them more than initially quoted or yourself taking a loss. This is a guaranteed way of upsetting potential customers, which is the last thing you want. If you imagine somebody quoting you one figure for some work, which you agreed upon, only to find them then charging you more than double the amount you initially agreed upon, this would not make you happy. With time tracking software however, this needn’t be a concern for you because the software in general helps you to provide precise and accurate quotes and estimates, to help you make the right impression with your clients. Keeping clients happy means they are more likely to use your services again, plus they will be more likely to recommend your services to others. You see, time tracking software will help you log the duration of each type of task your company provides, helping to give a clearer insight into how long a task will take, and how much you should charge.

Monitor your contractor progress

Another very useful benefit associated with time tracking software is the fact that it allows you to monitor the progress of your contractors. You see, a lot of businesses out there will employ freelance workers, as well as independent contractors. As a business owner, you need to keep tabs on them and their workload to ensure they’re keeping you within budget. You see, freelancers and independent workers may not necessarily feel the same levels of loyalty to you as your regular staff members, therefore they may not always be careful in regards to how much they’re spending and so on. By having freelance workers and independent contractors fill in timesheet reports like your other employees, you can help ensure that you know how many hours they have worked each week, and how many hours they have dedicated to specific projects.

Track employee performance

As mentioned, a business is only as strong as its employees, which is why it’s vital that you get the most out of your staff members. With time tracking software, you can accurately track and monitor employee performance, to help get a better insight into your workers. By having them fill in time tracking sheets you can see how long it has taken them to complete certain tasks, as well as just how many tasks and jobs they have completed in a certain duration of time. If for example, you can see that an employee has completed a number of jobs well ahead of schedule, you know that they’re performing well. If, however, the time sheet reporting software is indicating that a worker has taken far longer than they should on certain tasks, this indicates that they aren’t performing to the standard you expect, and you can then take the necessary actions required to get the best out of them.

Prioritize jobs

In the workplace, there are always jobs and tasks that are considered more important than others. For example, if you’re working on a project that should be completed in six weeks’ time, and a very similar project that should be completed in three weeks’ time, the project due in three weeks should obviously take priority over the project due in six weeks. With time tracking software however, you get to see this info in black and white, allowing you to get a clear insight into your current workload, and into which jobs should be prioritized first. By going with time tracking software which integrates with your calendar for example, you can then look at your current workload and can prioritize jobs in terms of importance. This is very useful as it will allow you to make better use of your resources and your employees in general. You see, each individual with access to the software can see how jobs are progressing, and based on that get an impression of how many hours may be required for each stage. As an example, if you can see that you have a job due in several weeks that only requires a couple of hours of work, this will probably be fairly low on your list of priorities, allowing you to delegate accordingly.

Monitor the status of tasks as you go

In most cases, the second a task leaves your desk you are basically leaving it in the hands of your employees, hoping that they’ll get it done quickly and efficiently. Now, the more employees you have working for you, the more jobs there will be for you to worry about. With a work hours tracker however, you monitor the status and progress of tasks as you go. All you need to do is log in and you can then check the status of each and every task you and your team are currently working on. This means that you can log in and see how many jobs still need to be completed, how many have been completed, and how far along each employee currently is on each job. This in turn means that you get a better idea of who is on schedule, who is ahead of schedule, and who is behind schedule. You can then act accordingly.

Delegate tasks efficiently

In the workplace, some jobs are simply too large for one person alone, yet unfortunately it is often one person taking on the responsibility of two people. Sometimes however, employers will delegate a one-person job to two people, making it a complete waste of time and resources. With a work hours tracker however, you can delegate tasks efficiently as you can see when a job is due, and how far along an employee is. For example, if you can see that an employee is struggling to stay on schedule with a particular job, you can then assign a second person to that same task to ensure the deadline is met and that the work is completed on time. On the flipside, if you can see that two or more employees are working on a job that would ordinarily only require one person, and you can see that they are well ahead of schedule, you can reassign one employee onto another task to better make use of your resources and time. Basically, with time tracking software, transparency is the word of the day as you get a clear insight into how well your employees are performing, how many jobs you currently have in the pipeline, how far away from completion each one is, and whether employees are on schedule, ahead of schedule, or behind.

 

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