Efficient time management is essential for the success of any company. Despite this, many organisations lose money by failing to track employee hours in an intuitive and reliable manner.
Using employee time tracking software can protect employee pay, optimise productivity and increase satisfaction. Staff time tracking software can manage employee scheduling and staff rotas, as well as payroll, availability and much more.
Need additional convincing on the benefits of employee time tracking and why you should do it? Let’s discuss why you should invest in a digital tool to make your staff rota and tracking easier.
Why Track Employee Time?
In 2015, Harvard Business Review reported that the U.S. economy is losing an estimated 50 million hours – that’s $7.4 billion per day – in productivity due to poorly-tracked hours.
The research indicates that traditional employee time tracking methods – such as self-reporting hours at the end of a work-week or month – are far less accurate than practices such as daily timekeeping. Many technologies offer easy-to-use and intelligent solutions to these basic problems.
Mistakes in scheduling, staff rotas and payroll can be costly to fix. Troubleshooting these internal errors means less time and resources spent on ensuring that your business is meeting client or customer needs and offering the best services possible. Plus, employee or management dissatisfaction of scheduling and payroll processes can lead to problems and disengagement.
Your payroll system may need an upgrade if any of these outdated methods are being used:
- Manually clocking in and out on paper or digital timesheets
- Requiring supervisors to approve timesheets manually
- Paper-based onboarding or payroll forms
- Chasing down missing timesheets
- Wielding different platforms for each scheduling and payroll function
Benefits of Employee Time Tracking Software
Digital tools eliminate unnecessary steps in the time tracking process and reduce chances for clerical errors. A single digital platform can allow employees to:
The first benefit to these tools is that management and colleagues appreciate a transparent and collaborative approach to time tracking.
A central digital platform eliminates clouded processes or unclear communication that takes place over email, text, and phone. In other words, a significant benefit to employee time tracking is that all parties uphold integrity in their workplace behaviour.
For example, Planday offers a mobile smartphone app with a powerful time-tracking feature, the Punch Clock. It enables employees to punch their timesheets using their mobile device and offers additional useful features, such as options to give explanations for late arrival or informed exceptions, and integrates directly into payroll.
Employee time tracking software reduces reliance on manually computing and tallying hours, scheduling, and running payroll. These benefits ensure that payroll tasks are completed efficiently without risking quality or compliance.
If you run a restaurant, this means easily scheduling front and back of house employees. For gyms and clinics, this includes making certain shifts accessible only to staff who possess the necessary skills to take on these shifts.
Most importantly, digital time tracking software can be seamlessly integrated with your payroll system. This software instantly generates reports such as detailing expected payroll costs, providing analytics on employee hours, and so much more. With an instant and accurate picture of the financial health of your business, you can make better decisions and plan for the future.
Seamless Digital Integration
Despite these clear benefits, some payroll staff and human resource managers may wonder: why track employee time with digital software that is perhaps impersonal and requires additional costs?
Consider that integrating user-friendly employee time tracking into your business works well for most people who are used to using such software in almost every other part of their lives. These time tracking tools can indirectly foster an engaging work environment as it eliminates a cluttered email inbox and the stress of unnecessary phone calls.
Disruptions in communications that stall the flow of productivity can be costly. An estimated 28 billion hours a year – or US $1 trillion dollars loss – for the economy.
These interruptions can all but halt the momentum and efforts people put towards achieving goals across all industries. As workplaces become more decentralised – especially with the rise of virtual work, freelance or contract employees, and mixture of in-person and work from home employees – a singular digital tool allows the team to visualise how their efforts fit into the broader picture of an interconnected workplace.
Make Smarter Time Tracking Decisions Today
At Planday, we’re changing the way shift-based businesses operate – especially how managers and employees fundamentally interact with each other.
Get a deeper insight into your staff’s activity, so you can make smarter decisions about which employees should be working and when. As a manager, you’ll no longer have to check the work schedule, employee files, or email to efficiently manage your team.
Ready to get started – sign up with a free 30-day trial of Planday’s staff management software today.