Accurately tracking employee working hours is of paramount importance for any business. Not only does it help in monitoring attendance and handling HR-related tasks, but it also ensures compliance with labour regulations and provides essential data for processing payroll. To efficiently track employee hours, it is essential to find a method that is user-friendly for employees and easy for management to monitor. In this blog, you will explore various ways to keep track of employee hours, ranging from manual methods to advanced time tracking software solutions.
Ways to Track Employee Time
- Manual Time Tracking
For businesses that are not currently utilizing any time tracking methods, starting with manual time tracking can be a simple way to begin. This method involves maintaining a register where employees manually record their in and out times. While manual time tracking is suitable for small teams, it can become time-consuming and prone to errors during timesheet calculations. These errors may lead to inaccurate payroll calculations, resulting in payroll discrepancies and potential employee dissatisfaction.
- Manual Timesheets
A step above manual time tracking is the use of manual timesheets. Instead of recording time entries on paper, employees record their in and out times on spreadsheets such as Microsoft Excel or Google Sheets. These software applications often come with mathematical formulas that facilitate quicker and more accurate calculations of total time worked. Manual timesheets should be adopted by smaller businesses that have limited staff. However, as the employee base grows, manual timesheets can become quite cumbersome and inefficient.
- Time Tracking Software
To automate employee hour tracking for all types of employees (salaried, hourly, or contractual), businesses can invest in time-tracking software. This software allows employees to track their time across various devices, including desktops and mobiles, as well as within work applications. Using time-tracking software offers several benefits, such as tracking both billable and non-billable hours, improving workforce productivity, and managing project expenditures. If employees work in shifts or are assigned specific tasks, the software can also prompt them to clock their in or out time if they forget.
Selecting the Right Time Tracking Software
With numerous time-tracking software options available on the market, choosing the most suitable one depends on your specific requirements. To make an informed decision, consider factors like features, compatibility with existing systems, user-friendliness, and cost. Forbes Advisor offers evaluations of multiple time-tracking software solutions to help you find the best fit for your business.
Key Benefits of Time Tracking Software for Your Business
Implementing time tracking software in your organization can yield significant advantages:
- Tracking Resource Utilization: Time-tracking software provides real-time insights into how, when, and where each resource spends their time. This data helps identify inefficiencies and prioritize tasks to meet project timelines effectively.
- Computing Total Project Hours: Time tracking software enables project managers to calculate the total effort or billable time required for a project. This information helps in planning and avoiding time or budget overruns.
- Evaluating Team Capacity: Time tracking software helps estimate the team's total capacity, considering factors like sick leaves and unplanned absenteeism. It assists in maintaining a balanced workload and optimizing resource allocation.
- Creating Better Workflows: The data provided by time tracking software can be used to evaluate and enhance the organization's workflows, leading to enhanced employee time utilization and overall efficiency.
- Handling Scope Creeps or Deviations: Time tracking software highlights discrepancies or possible scope creeps early on, providing time to prepare and address any deviations that may impact project schedules and budgets.
To conclude
In conclusion, accurate time tracking is essential for any organization seeking to optimize resource utilization, improve project management, and enhance overall efficiency. By adopting the right time tracking method, such as time tracking software, businesses can stay ahead of the curve and achieve their goals with precision and reliability.
How eResource Scheduler Can Help with Time Tracking and Resource Management
To optimize available resources and enhance their utilization, consider implementing eResource Scheduler, an award-winning resource management software. This time tracking software provides real-time visibility of your entire resource pool, serving as a centralized repository for all company-wide resources, projects, utilization, and performance. eResource Scheduler enhances coordination between employees and teams, ensuring the best-fit resources are aligned to the right projects based on their skills and interests. The software is easily integrated with existing systems, enabling efficient resource management and remote team coordination. Take advantage of a free trial to explore the transformative capabilities of eResource Scheduler in streamlining your resource management process and ensuring accurate time tracking.
