Categories: Quick Tips

The Importance Of Time Tracking For Small Enterprises

Time is the most valuable asset for any enterprise, regardless of the size and type of work they do. The market is brimming with software to help you save time and manage your employees more effectively. But to be able to understand where time is getting saved or wasted, you actually need to first know what exactly your employees are doing with their time.

A time tracking software provides you automatic time capture statistics so you can accurately gauge how your employees are using their time. With the help of enterprise time capture solutions, it becomes easy to get real-time access to employee activity that allows you to proactively take steps to improve their productivity.

As a small enterprise owner, this information empowers you as you can easily identify time theft and correct it immediately. It enables good time management which greatly increases your overall business efficiency. This makes time tracking very important for small enterprises. We have listed below several other benefits of employee time tracking:

  • Tracks employee activities:

It’s not uncommon for an employee to slack off or lose track of time doing unimportant things. Even though you have high trust in your team members for not wasting their time, they could unintentionally be mismanaging their time.

With a time tracking software in place, you get real time visibility into employee work activity. This allows you to understand how your employees are spending their time. In case you notice any inconsistency in their behaviour, you can help them understand their priorities better.

  • Prevents time theft:

A time tracking software helps you identify any possible negative work habits of your employees that are leading to work getting stalled. It could be something as simple as them checking their social media accounts too frequently, but can waste a huge amount of time.

If work is getting delayed due to such habits, it can cause obstacles in workflow. For a small enterprise this can be a massive hit on the overall productivity. Time tracking helps you prevent such a situation and to hold employees accountable for their work.

  • Increases work efficiency:

When employees know their time is being tracked, they are more alert about how they are managing their time which increases their chances of finishing work before given deadlines. This highly increases their work efficiency as they are focused towards executing their work.

For a small enterprise, improved efficiency of work directly translates to increased profits. With a time tracking software, you can identify work patterns and highlight any potential areas of improvement that can increase the work efficiency and encourage employees to work on those areas.

  • Set clear goals and objectives:

With the data collected in the time tracker, you can determine the accuracy of time spent by an employee. Armed with this information, you’ll have greater insight about their capacity. This allows you to set realistic goals for your enterprise.

A time tracker tool presents analytics from previous projects that allow you to set clear objectives for every employee about what they need to achieve in a given time frame. This helps in avoiding any confusion about their responsibilities and any poor performance issues.

  • Cost-effective:

A time tracker tool is highly affordable and provides way too many benefits at such a small price. On the other hand, it improves your employees work ethics as they become more alert and focused on their work.

This increases the revenue significantly as all time-wasters are eliminated. You also get important data to understand if something isn’t paying off as expected so you can re-prioritize your work accordingly.

Conclusion:

Time tracking is a powerful tool that can help your company become more efficient by increasing work productivity. It also reduces your payroll processing costs, making it a highly affordable addition to your enterprise processes.

Deven Rathore

Deven is an Entrepreneur, and Full-stack developer, Constantly learning and experiencing new things. He currently runs CodeSource.io and Dunebook.com.

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Deven Rathore

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