Efficiency is doing the thing right… Effectiveness is doing the right thing!
Managing your own time against the multiple demands of running a business is difficult enough but when it comes to managing employees’ time and productivity it can be a mammoth task. However it’s hugely important for the running of an efficient and profitable business.
In the short term, understanding the amount of time spent on particular tasks will help analyse employee performance and productivity. This is where timesheets really come into their own as they highlight time wasted and reduced productivity. They are also important in identifying what the time-sucks or operational road-blocks to take leadership decisions or actions to eliminate.
Longer term, they provide a strategic tool for long-term planning. This enables more accurate information to estimate project costs, identify what full capacity looks like and plan for extra resources when extra staff or contractors are required.
For employees, there’s often resistance on many levels to completing timesheets as it’s a discipline that needs to be adhered to on a regular and timely basis. Employees need to personally understand the importance of tracking time correctly as the benefits gained not only reward themselves, but the longevity of the business.
It’s important to share that by accurately completing timesheets it provides total transparency on the job. Management can see how many hours work are required to complete each job/project, allowing more accurate quoting and invoicing for sales staff; and operationally, how to resource and manage how many people are needed on a job.
For businesses where customers are invoiced based on the actual time it took to do the job, rather than based on a quote or estimate, timesheets ensure this work is charged correctly and is a fair representation for both the customer and the business.
There are plenty of times customers change the brief half way through a job and if this not tracked, it’s very hard to see if the customer has gone over the estimated time allowed which can result in the business being paid less for all the extra work.
Timesheets take all the guesswork out of your business – providing a more efficient and profitable business that benefits everyone: better systems, less waste, better results, greater success.
We’re here to help and can advise you on better productivity and more about time tracking. Get in touch today.