Could your company benefit from a time clock system?
The benefits of time tracking software extend far beyond the ability to monitor your employees’ day –using time clocks can also improve accuracy in terms of invoices and estimates, help to prevent time theft, and can drastically cut the amount of time that’s spent processing payroll. There are a number of reasons to consider using time tracking systems –even if you’re in an industry that doesn’t require a robust time tracking system to closely monitor your workers.
But while most industries, by and large, can benefit by holding their employees accountable by using a time tracking system –there are a few cases where it may be in your best interest to forgo the time tracker –and instead rely on a different system; one that’s less rigid.
If you’re wondering whether or not time clock software could benefit your company, wonder no longer! Let’s take a look at a few industries that could benefit from time clocks –as well as some that may be better served by using a different system to measure employee productivity.
Companies That May Not Task Tracking, but May Need Time Clocks
- Companies That Use Contract Workers
Do you hire contract workers –like freelance writers, designers, or website architects? While time tracking software does give you the ability to monitor your contract workers, you may want to consider letting them track their own hours. In most cases, agreeing upon a predetermined price is a better option –one that will ensure that all expectations are met and that both parties are happy with the agreement.
- Results-Driven Companies
Aside from constantly monitoring someone, there’s little way to know what someone has been working on. If your company is results-driven, then you may want to forgo the time-tracker and instead rely on performance analytics –in some cases, this can be a far more accurate way to measure a team’s productivity.
- Retail Companies
If you’re in retail, there may be no need to implement a robust time tracking system. This is because the amount of time that your staff spends on individual tasks will be difficult to measure. Instead, you may want to consider implementing a simple time tracking system –where staff can check in and out for their shifts.
Companies That Can Really Benefit by Using a Time Clock
By and large, most companies can benefit from a time tracking system. Here’s a look at just a few industries where time tracking software is invaluable.
- Engineering Firms
Engineering firms are one type of company that could benefit from a way to measure their workers’ productivity –and time on the clock. With so many contractors and suppliers working across a vast range of projects, having a system for time tracking –that syncs up with billing software can help to simplify what would otherwise be a complex process of calculating costs and expenses.
Contractors who are often working on multiple projects could also benefit from time tracking software. With multiple projects often going at the same time, having a way to accurately track employees’ hours is important –and will ensure precision when billing.
- Legal Firms
Law firms also need to track billable time in order to ensure accurate client invoicing. Having historical data to look back on can also help firms to set realistic billable hour goals.
- IT Consulting Firms
IT consulting firms are another company that can benefit from time tracking software. This also allows for simplified tracking of projects –as well as expenses related to prospecting and travel. And of course, when it’s time for invoicing –having all of the hours documented will simplify the invoicing process, and help to improve estimate accuracy in the future.
While a robust time tracking system isn’t for everyone, it is beneficial for a number of industries. If your company reaches a point where you can’t personally supervise your workforce, and if you feel that you could benefit from more precise data –then you’ll want to consider giving a time clock software a try –and see for yourself the benefits that it has to offer your company.