If you’re still using punch time clocks, Excel, and other manual calculations for timekeeping, it’s time to reconsider!
Every investment requires planning, and most importantly, makes financial sense. However, what if you could be saving money by installing a time tracking app? You may think, well, My current systems are working for me so why change? In this case, being a creature of habit won’t serve you well. This is because your business could be wasting money in areas you would have never expected!
When you manually track time, you expose yourself to time theft and buddy punching from your employees. When your employees arrive late and leave early, they waste valuable time. This is especially true if you pay your employees by the hour.
Without further ado, here’s what you need to know about how time tracking apps could improve your bottom line.
4 Ways Time Tracking Benefits Your Revenue
When businesses don’t have digital payroll, they find themselves with a long, drawn-out, and error-prone process to manually calculate payroll hours. It leads to you needing to call employees to confirm how many hours were completed, and even then, you can never be too sure if this is an honest estimation and reporting. Once you have that information, check to see if that corresponds with what you have written or on Excel. And if there is a mismatch, issues can arise. These include quarrels over hours, pay rates, etc. However, when you digitize your time tracking, the hours are already calculated, meaning you will not have to worry about who worked when and where.
As a business owner, productivity is crucial. You put in all the hours, and your job is 24/7. So, when you are paying people, you want to ensure that they are using their time wisely.
No matter how much you try to do it manually, you aren’t always aware of how long projects take to complete. However, time tracking lets you understand how many hours are needed. For example, if employee A requires eight hours to complete a certain task, you will allow employee A the eight hours to do so. If you feel eight hours is too long to complete it, you can always add employee B to help employee A. Therefore, you maximize productivity.
In addition, you can learn which tasks are lengthy and which are easy to fulfill. By having that data, you can implement it when repeating the project, meaning you can manage your employee’s time better. The tasks that take the most time can be set for the morning when your employees have the most energy and the easier ones in the afternoon.
Employee Time Tracking App
If you’re ready to take the leap, an employee time tracking app can assist you in becoming a productive company. Apps such as Connecteam offer you the opportunity to time track like never before.
With added GPS geofence, users can clock in and out directly from the app from a site you set. The app’s added GPS breadcrumbs improve productivity, as it allows you to see employees on the move. You can see which locations they visited throughout their day. This lets you know if workers are where they are supposed to be without ever phoning or texting them. So, long gone are the days of buddy punching and time theft.
Employees can also see their hours, so there’s no confusion or discrepancies over hours completed. You have the ability to set the number of work hours each employee can complete. Once workers reach their max, they receive a notification. Current and previous timesheets are viewable. That means you can block the possibility of taking overtime, and then never need to pay for unnecessary overtime again. Hence, payroll is easier, more streamlined – and even automatic!
Once you know how many hours projects take to complete, you can adjust budgets accordingly. If your employees have to meet at the same site, you can set up the kiosk app. The app requires each employee to have a unique passcode to enter. The kiosk app means your staff won’t require their smartphones to clock in and out.
Another perk of digitizing your time tracking is that you can provide quotes that are fact-based. When a potential client arrives, you can provide a full breakdown of the costs, including hours per task. You know how many hours are needed per task because you have the information from previous projects. Therefore, you can price accordingly.
Time Tracking for the Pro’s
Running a business means playing your A-game all the time. With time tracking, you can reduce your stress when it comes to time theft because it simply isn’t possible. Digitizing your time clock could save you money in the long run. Not only that, your company will come across as more professional as you can provide estimates that are based on previous projects and not estimates.
Once you become digital, you will question how you ever managed without it!
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