In our previous blog about time tracking, we’ve tackled how it enables business success. Just to give a quick recap, time tracking boosts productivity, improves workload allocation, and helps make budget estimates more accurate.
The first thing that comes to mind when we say time tracking is recording the working hours of employees— attendance, billable hours, time off, and scheduling, to ensure they are compensated according to the end of their payment cycle.
Important Insights and Data Trends To Expect.
Best Employee Time Tracking System
There are different types of time-tracking systems. While their main purpose is to track time, each differs in terms of the features and focus of the business goals. Wojo, for example, is an all-in-one project management software with powerful features that deliver invoicing, productivity reports, scheduling, document management and more.
Other examples of time-tracking systems are:
- Paper method
The paper method simply means recording time at work using paper. It’s inexpensive. It’s a manual process where modern technology is not required.
The spreadsheet is a mix of manual and automated processes. Employees still need to input their hours and schedules manually. It can do basic calculations and can generate accurate reports through automation.
Benefits of time tracking system
With multi-tool business management software like Wojo, tracking productivity and attendance provides a competitive edge in your operations.
- Team management efficiency is improved.
Time tracking system keeps everyone in the team on the same page. It provides insights on what tasks to prioritise, identifies bottlenecks, and determines the team’s capacity. It provides flexibility where the team can discuss time management strategies that fit individual styles that will allow every member to work efficiently to meet their goals.
- It helps managers and employees to set clear objectives.
Communication becomes better for managers and employees. It enables transparency and accountability when employees can access their own data. The team is able to communicate their needs and let managers know if they can hit deadlines within the expected delivery schedules.
- It helps make data-driven decisions.
Data-driven decisions allow the business to analyse which areas they need to improve. Examples of these are identifying the productivity peaks of employees, finding new ways to streamline their operations when there are low ROI tasks and recognising the time-consuming tasks that are adjusted or reassigned.
- It delivers accurate billing.
Payroll management and client billings are accurate through automation. It also helps track how much time is spent on client work and the team’s productivity levels. The business is able to identify strategies to boost its profit by focusing on the strengths and weaknesses of its employees. For example, employees with high deliverables can take on more tasks while those who underperform can be given more training.
- It prevents employee burnout.
Without a time tracking system in place, uneven distribution of work can happen. Some employees may take up more projects than others in the team. Employees might have to spend more overtime and sacrifice their downtime, which may affect their productivity and health.
Wojo empowers businesses with an innovative and all-in-one management system to help transform business operations. With our simple yet powerful and user-friendly ecosystem, Wojo will help increase your business’s productivity and profit with solutions that save time and costs.
Schedule a demo today and experience how you can streamline your team’s operations with Wojo.