Why Time Tracking is Critical to Your Business Success

Every business has a unique way of tracking time. Some are logging the work every minute using employee monitoring software, while others do it manually. Regardless of how you do it, the crucial thing here is that you recognize that time tracking is essential to your business success. 

The primary purpose of tracking time is to determine how long it takes to complete a specific task. With that knowledge, you can plan everything for your business and succeed. 

Some people do not want to track their time. For them, it is an additional burden to their already packed day. They are not aware that the benefits of time tracking can outweigh the issues in completing the task. 

Below, we will share with you why time tracking is critical to the success of an e-commerce business. Some examples are also cited, so you will know how you can benefit from them.

Tracking time helps the business to plan solidly and to become successful.

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Gives you an idea of the cost of the deliverable

Putting up a business is not cheap. You need to spend some money to pay salaries; buy tools and software; pay employee’s benefits and taxes; build fees; and buy hardware, furniture, and tables. And these are only the basics. 

Some businesses also pay for their employees’ team building, training opportunities, subsidize their meals, pay for travel expenses, and more to remain competitive with employee contentment.

You might be wondering how time tracking can help you in determining the total expenses of your business. By monitoring how long an employee takes to finish a specific task, you will be able to calculate how much you should pay your worker. You can likewise determine your profit on their output.

Determines how much time you need for a certain project

Logging time from the start of your work to the time you finish gives you a clear view of how long a specific task will take to complete. If your rate is fixed by project or you need to stick with a particular budget, you have to be focused on each task. This will ensure that you will not go beyond the time specified for a particular project. Delays can cost you a lot of money. 

It is a must that you plan your daily work cautiously. The amount you charge for every client will depend on the number of hours you consume to complete the job. Tracking time is not easy. You need to apply a reliable method to keep track of all activities. 

Using an Excel spreadsheet may help, but it is much better to find a reliable tracking software that provides accurate time reports.

These two methods are easy to use, cheap, and include some integrations. You can input tasks and the number of hours needed to complete the task. Then as your worker does the job, they can log the time directly.

Can help improve overall productivity and efficiency

Have you encountered a complicated project with lots of layers? Are you having a hard time completing the task within the specified time? Are your rivals pricing the project so low that you cannot complete the project?

As soon as you start tracking the time, it will be easier for you to get things done. Through this time-tracking process, you will know how efficient your designed workflows are. This allows you to work with your team quickly and aim to increase productivity. 

We have applied time tracking in our projects, and we were able to identify which part of the project requires more attention. Likewise, we were able to find out which part of the process is not working and needs to be stopped. 

Also, through time tracking, we were able to identify which employee is taking too long to complete the same work as their co-employee. For instance, employees A and B handle email marketing for the company. 

Employee A was able to complete the task two days ahead of employee B. Through time tracking, you will be able to determine which part of marketing employee B has taken too long. 

To help the person cope with his co-employee, someone will work with him closely to improve his overall efficiency. The employee will become more engaged in completing his task throughout the day. 

This will prevent him from becoming distracted and multitasking. The result is an increase in productivity. Tracking their own time will help them improve their time management skills with less supervision. 

Help identify the employee who can handle more work 

Part of the e-commerce business success is employee satisfaction. The quality of work provided to your clients will depend on the work of your personnel. If they are overworked or cannot handle more work, it will significantly affect your business. They will produce low-quality work, which might result in your clients becoming frustrated. 

Once you have started to log their time, you can use this in deciding how much workload an employee can handle. Check how they track time, and you can quickly identify how they manage work. You must teach your team how vital time tracking is. 

Conclusion

Some people are not comfortable working with their time being tracked. They are not aware of how helpful this will be in the business. Tracking time does not require you to record their work minute by minute.

Time tracking is designed to help you decide on the following:  workload to give to each employee, deliverables, the total productivity of your staff, and resource management. Consistent time tracking will help your company become better and eventually succeed.

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