As Benjamin Franklin said, ‘Remember that time is money’. Whether you are a small startup or an enterprise, we are sure that you can resonate with this statement very well. Time is a crucial factor for every organization and therefore tracking the time of employees goes a long way in ensuring their productivity.
This is just one aspect of it. In this article, we’ll elaborate more on time tracking, its needs and benefits. Fasten your seatbelts, it’s going to be a worthwhile ride.
What Is Time Tracking and Why Is It Needed?
Time Tracking refers to the process of recording monitoring the time spent by employees on work, tasks and certain projects. Based on the number of hours spent, employees get paid at the end of their payment cycle.
If your organization is considering getting started with tracking the working hours of employee tracking then, you must have certain questions such as;
- Why track the time of employees?
- How can it benefit the employees and the organization?
Let’s come towards the answers to these questions.
- Time tracking is done to create transparency between employees and managers. It also gives the managers an update about the productivity of each employee.
- It makes the employees more punctual and accountable. When they know their working hours are being monitored, they would ensure productivity.
Read Blog: What is Employee Monitoring Software? Everything You Need To Know
Advantages of Tracking Your Team’s Time
Now that we've got a handle on why time tracking matters, let's dig a little deeper into the good stuff. In today's work landscape, it's not just about keeping tabs; it's about a game-changing strategy that can reshape how your team works and, more importantly, flourishes.
Enhanced Profitability
Time tracking enables closely supervising the time of your employees. This further lets them re-prioritize tasks and plan budget projects.
Setting Clear Objectives
Keeping tabs on the working hours of every team member helps managers set clear work tasks for everyone. This would also help the employees in getting clarity about their tasks.
Build Transparency
An organization where there's transparency between the leaders and employees always flourishes towards betterment. Time tracking allows employees to have a clear view of employees’ working hours and productivity during those hours.
Improved Progress Communication
As the employers would keep tabs on employees’ time. They would have the ability to know whether the employees were able to meet their targets during working hours or not. This would further make it easier for the former to hold the latter responsible.
The Downsides to Time Tracking
While time tracking has numerous benefits to businesses, there’s a negative side to it as well. The first thing begins with evaluating how your team members will take the news of being monitored at work during their working hours. Depending on the type of employees at their workplace, this decision to monitor the working hours can have a significant impact on productivity.
For some employees, it may be another rule they need to follow. However, for those who prefer gossiping every day rather than completing their tasks, this would not be good news. So, time tracking is a business investment that will help in increasing the productivity of both types of employees.
On the other hand, the majority of employees don’t prefer workplaces with micromanagement in place. Therefore they would not be comfortable with getting tracked all the time.
Read Blog: Employee Productivity Tracking Software: How Why To Do It
Industries which can use Employee Time Tracking Software?
Time tracking uniquely benefits different types of industries. Here are some of the teams that can utilize it;
Agencies
If you are an agency working on tight deadlines, time tracking is just the right thing for you. Whether you have an in-house team of writers or dedicated freelancers, this would work as a strategy to meet the client's expectations and deliver work on time. Besides this, you can ensure that you’re paying both parties accurately without worrying about the pay rates.
Field employees
If you’re operating a field service management company, employee time tracking can do wonders for you. Keeping tabs on the working hours of employees would become a streamlined process and you would no longer have to manually ask them for updates.
Besides these, several firms can utilize time tracking. These include Architecture and law firms, small businesses and startups, etc.
Bottom line
Time tracking is not just a way to boost the productivity of employees but also a catalyst that can help you keep up with the organisational goals. If implemented thoughtfully, it can lead to increased profitability, realistic goal-setting, better transparency and communication. However, before you think about introducing it in your organization, it’s important to be mindful of the potential downsides that come with it and address them proactively.
Get started with TrackoField’s Employee Monitoring Software.
You came here to know just the advantages of employee time tracking but we have covered the downsides too. Let TrackoField be your saviour in this journey and know more about our Software.
Schedule a demo with us today!
