For a product or service to be priced correctly the foremost thing is that the organization should know the cost incurred for that product or service correctly. And the cost incurred on the manpower can be calculated only by knowing the effective time that was spent by the employees. It helps in correct pricing and may avoid the organization from over pricing which leads to decrease in sales or underpricing which leads to losses. Visit the Recommended Site here.
The most important point that is to be kept in mind before implying the time tracking system is that the employees should not feel bounded by it, it is necessary that time tracking of employees is not mistaken for intense micromanagement by an organization or untrustworthiness towards employees which may become a demotivation for them.
The employees must be made aware of the all other reasons that require the time tracking and it is not just a tool to stop employees from wasting time but for the overall improvement in the performance of an organization, and when an organization grows so does it employees. It gives true picture of many cost aspects and how it helps the management in planning operations depending on the effective availability of employee resources and how long a job is going to take can be compared with scheduled time to deliver the products or services to the customers in the promised time along with accurate cost estimation. Visit the Recommended Site here.
Accurate measurement of employee cost
An important benefit of employee time tracking is it helps in processing the salaries properly if they are paid on hourly basis and giving hikes to the deserving employees who have spent time more effectively. Most of the tasks are performed in team and sometimes only few members of the team may do most of the work while the other members may not contribute equally. Without a tracking system it can’t be known which employee has contributed how majorly towards the tasks done. Hence, it is important to choose the right time tracking software for your business to avail maximum benefits.
When the employees become more responsible and accountable it brings out the best in them benefitting both, workers and the organization as the idle time are kept to a minimum to the extent possible. It eliminates the need to micro manage employees all the time and focus on other important tasks. The worked hours’ calculator does it all.
It is also a way to keep the time in check by ensuring that the employees aren’t working overtime only on one project and ignoring other projects, helps in even distribution of time amongst all the projects that are being run by the company. Based on the total time that is being consumed by the project an estimate of left-over project can be done and the completion date of project can be provided.
The risk of a wrong time being entered is eliminated as the process is automated and the software records the time as it is and the managers don’t have to worry much about the misinformation being placed by the employees.
Time Clock Tracker also helps in Promoting transparency
Tracking of employee time with the worked hours calculator also promotes the transparency, the organization can provide the data regarding the number of hours that were actually spent by the employees to prove that the pricing has been justified and when the customers know how much effort has gone by the employees in completion their projects they feel more satisfactory towards the money spent and also it promotes brand loyalty. Happy customers will always come back to the organization even in future to get their projects executed for the same place. Brand loyalty adds to the value of organization by increasing the good will of the company.
Managers who work for a company carry company’s reputation along with them; the brand image of a company is reflected on the people who work for it. So the benefit is not just for the organization but also for the managers of the organization, it makes their job easy by making the administrative tasks less tedious and helps them concentrate on the more important tasks.
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