The Value of Using an Employee Time Tracking Solution

the value of using an employee time tracking solution

Unfortunately, humans tend to be very proficient at wasting time. Most people have spent a free day at home scrolling through Facebook, texting with friends, or watching an interesting series on Netflix.

Unfortunately, time can also be wasted in the workplace. If there is no accountability for workers who call out sick or take too long to complete a task, the entire company culture suffers as a result.

Thankfully, employers now have an automated and intuitive employee time tracking software system that tracks absenteeism, hours worked, overtime, and time is taken to complete a project.

These organizations have stopped manually performing payroll and started utilizing an optimized time tracking system that gathers accurate clock-in data and streamlines project management and task management. Read ahead to learn why using a time tracker will benefit a small business.

The Basics and Benefits of Employee Time Tracking Software

Time tracking apps allow enterprises to track their workers' hours and streamline payroll processes. They are also utilized to evaluate team performance and individual productivity so management can make better business decisions.

By collecting and analyzing punch-in and productivity data, employers can improve workflow processes and maximize efficiency in every department.

There are many different types of tracking software available. Most time clocks have functionality that integrates with mobile devices, helping employers with tracking time and monitoring workers wherever they may be.

There are also biometric clocks that utilize a human characteristic such as a fingerprint or portion of the face to authenticate identity and collect punch-in data.

Regardless of the clock chosen, using an automatic time tracking system will streamline work for the HR department and make it easier to comply with complex labor and tax laws.

Other benefits of purchasing time tracking software include-

1. Boost Efficiency and Evaluate Workflows

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Employers can analyze each part of the workday and track worker project time. They can also discover which processes or activities are taking up too much time and don't produce enough value, such as weekly marketing meetings.

By monitoring all meetings, projects, breaks, and more, businesses have the opportunity to look for gaps that lead to inefficiency. For example, if a worker took 4 hours to complete a project, a team leader can analyze why it took so long and how to shorten this time frame in the future.

Perhaps the employee is bogged down with other projects, or maybe another staffer with higher seniority is pushing their work off on him/her. Software time trackers allow decision-makers to allocate resources properly and adjust strategies to ensure everyone is achieving maximum efficiency.

2. Harness Data Analytics

The majority of time tracking solutions provide metrics that use time data to create powerful visuals that tell a story.

Viewers can assess how long each task took and break down every project into the various steps it took to complete it. With insights gained from analytics, businesses can maximize resource allocation to ensure that everyone has the necessary tools to finish tasks promptly.

Data analysis is also useful to understand whether or not money is wasted through inefficient time work management. Employers can use time tracking time solutions to reevaluate those projects that are taking too long to complete and provide a low return on investment.

3. Streamline Payroll Processes

Manual payroll is a meticulous process that requires verifying timesheets, calculating overtime hours, converting minutes to hours, and entering data into a spreadsheet.

By utilizing an optimized clock app, businesses can automate many of these tasks and make work easier for the HR department. Many owners have tried taking advantage of the free day trial options offered by software providers to see which one best streamlines HR work.

Because automatic software systems collect real-time punch-in data, there's less of a chance for human error when performing payroll.

Most tracking solutions take all of the various labor laws and rules into consideration and update automatically to include specifications for a new law.

This way, employers don't have to worry about navigating or researching the new laws and ensuring that HR is doing everything correctly to stay compliant.

4. Boost Employee Morale and Reward Producers

Employees can utilize tracking software to have a clear picture of how much they are working and what tasks have been completed. Because employees track their own time, they will continue being productive and motivated to further improve their performance if they know the workplace is monitoring them.

Everyone can rest assured that they will be paid accurately for the correct number of hours worked.
They won't have to worry about someone forgetting to include their overtime hours or a timesheet getting lost in the shuffle.

With a tracking project system, everything is automatic, collected in real-time, and right there for their daily viewing. Businesses can also see who is more productive and reward employees for their performance.

If there is a financial incentive to be on time, complete all tasks, and meet key performance indicators, the company culture and employee morale will improve as a whole.

5. Forecast Time Estimations

Time tracking uses artificial intelligence to take historical data and use it to make predictions about future time estimations. For example, if a project took 3 hours to complete in the past, businesses will know that unless something changes, it will probably take 3 hours to complete in the future.

Owners can use predictive analysis to make decisions that minimize inefficiencies and prevent time wastage in the future. Real-time reporting uses intuitive visuals that help deliver these insights to decision-makers in an understandable way. By using predictive analytics to drill into time data, businesses will save money, decrease inefficiency, and boost productivity across the organization.

Key Takeaways

Here are the key takeaways to remember about an employee time tracking solution-

  • Time tracking solutions track worker hours and streamline payroll processes to ensure labor law compliance.
  • Utilizing a time tracker allows management to see exactly how long each worker is taking to complete a project. Employees can also perform project management by using time apps to assess their performance levels. Over time, these tools can help boost efficiency in the workplace.
  • The data collected from a time tracking system generates actionable insights that allow the leadership team to make decisions to improve efficiency, productivity, and decrease waste.
  • An optimized tracking app will streamline payroll processes and ensure accurate data is collected. This improves compliance and frees up resources so HR clerks can focus on other tasks.
  • Knowing that productivity and time are tracked, employees' morale will improve. Workers will maximize their efficiency and seek to improve their performance by utilizing time attendance software, especially if there is a financial incentive to do so.
  • The best time tracking solutions utilize predictive analysis to see how long a future project/task may take. Businesses can use these insights to manage current projects and prevent inefficiencies before they occur.