6 Reasons Why Time Tracking Is Important For Your Organization
Did you know 80% of employees spend their workday on unproductive activities?
Be it an organization or a freelancer, discipline and consistency are required to stay ahead of the competition. While companies are warming up to flexible working hours, there can be many distractions that can land you in trouble. It is imperative to create a schedule and stick to it to get actual work done. So, what can be the possible solution for this?
Here is the solution to your queries. For the efficient tracking of your employees, many organizations are using work hours tracker software. It would give a great impact on your organizational activities and productivity. By using this, your employees will be attentive and effectively do their work.
Well, you can try out a tim
e tracking software and let it do its work! While you may experience initial resistance, it would be of great benefit in the long run. Moreover, you can also integrate it with Expense management software to stay on top of your invoices and get paid on time.
Time tracking Software let you do an in-depth analysis of where your time goes and its impact on your work. Without further ado, let us understand why your organization cannot do without time tracking.
1.Improved Workflows
An organization works with multiple projects and clients at a time. So, you need to figure out a process that doesn’t require you to spend too much time on a project and even increase your earnings.
For instance, once you start tracking time, you may observe that you are taking 1.5 hours to research a 1500-word article. Well, the content may require such in-depth research, but cutting it down even by half an hour can help you save at least 15 man hours a month.
Time tracking software lets you do a thorough analysis of your issue and make plans to boost your productivity. Moreover, when you collect data over a period of time, you can understand your time spending patterns and see how you can align them with your business goals.
2.Eliminate Procrastination
While using Twitter or Facebook can provide a breather on a hectic day, it is easy to get carried away. You are bound to feel bad later and even miss a deadline.
As per a study by DePaul University, 20% of US-based professionals tend to procrastinate. The worst case is that even when they try to solve this, things are done at the last moment only.
While you may think that you work well under pressure, it is possible that you compromise on the quality of work to meet a deadline.
However, time tracking software helps you curb such urges and make informed decisions. When you know that a timer is ticking, you will be extra careful and avoid wasting time on unnecessary things.
3.Avoid Multitasking
Do you find yourself juggling multiple tasks at a time and yet fail to get work done on time?
Well, even the American Psychological Association believes that doing more than one thing at a time can lead to a 40% dip in productivity. Not only do you miss deadlines, but you also tend to make errors if you try to do multiple things together.
A simple solution to combat this is to track time and eliminate the habit. As you might have guessed, tracking time for multiple things is tough.
The ultimate goal of time tracking solutions is to capture time spent on a specific task. Since you solely focus on the task, you are less likely to check social media and even your mail during that time.
4. Smarter Client Selection
Every organization has clients who not only demand more time but are also not willing to pay extra for your efforts. They may contact you several times a day and will want to know each and every detail of the project. Unfortunately, such clients become a liability and leave you no chances to earn profits.
Interestingly, time tracking can help you deal with such clients better. You can charge them on an hourly basis and get paid for the efforts you make. Moreover, you can also choose to remove such clients from your customer list and look for better-paying clients.
5.Make Better Financial Decisions
Most businesses find it difficult to estimate the time it would take to complete a project. This results in underquoting and eventually monetary losses. To solve this, you need to have experience and knowledge to calculate the exact figures and charge your clients real money.
Time tracking software lets you include every phase of the project in your proposal and makes better estimates. Furthermore, doing a cost vs. time analysis will help you understand if the project is worth it. Besides that, these insights will help you analyze business areas that need improvement.
7.Simplified Task Delegation
Well, it is a great feeling to be a one-man army. However, from time to time, you will need to delegate your tasks. They can be anything from writing business proposals to marketing your business and sending invoices to onboarding new clients.
With so many things at hand, it is practical to distribute tasks. Time tracking software will help you know the exact time spent on each task and make delegation easy.
For example, if you are a digital marketer, you can hire a developer to design your website and a content writer to write blogs. Moreover, this will ensure that only top-quality work goes out without compromising on deadlines.
Here is an example. If you charge $50 per hour and it takes 5 hours to complete, you will charge your client $250. At the same time, you can hire an expert who takes 2 hours for the same work and save $150 on it. Moreover, you will save money and have three extra hours to work on things you wish to.
Wrapping Up
Time tracking solutions can help you build trust with customers and increase your business revenue. Since your employees will be on the same page as you, they will also experience tremendous growth and stick to your company for a longer time.
Have you tried out time tracking software yet? Share your thoughts in the comments below!
