Employee Time Tracking for Small Businesses: A Practical Guide
Either you run the day, or the day runs you! As a small business owner, you can definitely not afford the latter. Time is your most valuable asset, but managing it effectively and being productive can be a daunting task. And, if you also have to look after your small team, it’ll become even more difficult. It is where time-tracking for small businesses kicks in as a solution. Not only do you stay on top of your game, but you dictate the time, and it follows your command. In this blog, we’ll help you turn the tables by debunking the secrets of successful business owners who started small and are doing amazing. What we’ll discuss: In short, this is a complete guide you need to know everything about how to capitalize on your time and boost your business to success. So, remain with us until the end. Let’s dive into the blog without further ado. What is Time Tracking? Time tracking, or employee time tracking, is the process of recording an employee’s work hours against their assigned tasks and projects. It ensures employees are fairly compensated and provides employers with insightful data for future decisions. Time tracking has existed since Egyptian Hammurabi’s code of conduct established a minimum wage for workers based on their time. But in 1888, a New York jeweler invented a time clock that recorded his employees’ work hours and helped him monitor employee productivity, manage project timelines, and allocate resources effectively. Today, we use different methods of time-tracking. Here are the top 6 methods of time-tracking that have evolved over a period of time. Top 6 Time-Tracking Methods Some of the time-tracking practices have become obsolete because of the new technologies. However, these top 6 methods have been popular throughout history. The most common method that has revolutionized businesses is automatic time-tracking applications like TimeBee. These apps record your time, maintain your timesheets, and help manage projects, budgets, and workforce. Why Small Businesses Need Time-Tracking? A simple equation sums up the need for time-tracking: Time-Tracking + Smart Work = Productive and Efficient Operations. We all know this is the time to work smart. So make the most use of your time by ensuring you are not wasting your valuable hours on unproductive tasks. As the famous Benjamin Franklin says, “Time is Money,” so the more time you waste, the more money you lose. Time-tracking helps you work smart by identifying areas where you need to save time and adjusting your processes accordingly to maximize your working hours. Top Benefits of Time-Tracking for Small Businesses The need for a good time-tracking solution is inevitable. Find some of the greatest benefits your business is missing without having a good time-tracking strategy. Time Theft Prevention Any minute that goes by unaccountable is time theft. Many employees manipulate their working hours to increase their billable time. By opting for an automatic time tracker, you can eliminate this issue. The tracker will track the time and keep the employees accountable for every hour they spend on an assigned project. This will help in meeting deadlines faster and with quality work. Manage your Projects Better Even though you are a small business, you might have multiple projects to manage, or you might have to juggle multiple tasks at any given time. In any case, you can opt for an automated time tracker with project management features. It helps you distribute tasks fairly without causing over-exertion among employees. Plus, it promotes transparent employee-employer relationships. Maintain Workplace Transparency A company-wide time tracker keeps everyone informed about the company’s current affairs. This helps build a better workforce and leaves less room for malicious manipulation. Being informed about the company’s current affairs promotes employee loyalty and engagement. Overall, transparency in the work culture leads to better employee satisfaction and retention, and a strong brand reputation. Expand Your Team Without Expense After COVID-19, remote work has become a new norm. It helps businesses save extra time and money by avoiding lengthy and long-term hiring processes. If you start using a time tracker, you can easily manage freelance employees and finish your work. Plus, by monitoring your remote team’s activities, you can easily evaluate and analyze them. This will help you process accurate payrolls for them. Keep Your Company’s Data Secure When you opt for an automatic time tracker with multiple features, such as productivity reports and activity summaries, you are gathering important data that will help you during your audits. It is important to keep this data safe, and a time tracker with cloud-based backup can easily help you collect the data and secure it for when the time comes. Now that you know how important a time tracker is for modern business flourishing, learn how to get the best time-tracking software for small businesses. Top 5 Considerations to Choose the Best Time-Tracking App For Your Small Business Choosing the right time-tracking app is important to ensure it meets your business’s needs and requirements. Here are the top 5 considerations to keep in mind: Be Aware of Your Business Needs Once you buy a time tracker, you must first identify your business needs. Here are some basic questions you must ask yourself: Answer the following questions to better understand what you need to look for when you go time-tracker shopping. Opt for an Easy-To-Use Application When choosing a tracker, make sure it is user-friendly and has an intuitive interface. The features should be easy to navigate, and it should be easy to get started. If the app is not readily adaptable, it can be counter-productive for your employees, who may resist its implementation. Moreover, a hard-to-use user interface will demotivate workers and increase their stress, resulting in unproductive outcomes. Check Tracker’s Compatibility When we talk about compatibility, there are two types of compatibility: one, compatibility with your operating systems, and second, compatibility with your business tools. So, when opting for a time-tracking solution, don’t only check if it is compatible with Windows and Mac. Also, check
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