Innovations in technology have impacted every corner of the workplace today. Conference calls have gone virtual, and project management is becoming increasingly automated. It is no wonder the common saying of the 21st century is “every company is a tech company”. The disruptions caused by technological advances are only accelerating, solving many organizational challenges.
The impact of technology has been strongly felt in the employee time tracking segment. Conventional methods involve a lot of manual input on physical documents like papers and punch cards. These methods are prone to manipulations and errors, making them unreliable. Time thefts like buddy punching continue to cost companies millions that still use them.
The solution is an online-based digital time tracking tool. It can record the clocking time of employees and provide a host of other valuable features. Timesheet templates are on that list. A monthly timesheet template for employees will sort issues plaguing their time-tracking.
Keeping Employee Time-tracking Ticking
A monthly timesheet template provides employers immense control over employee time-tracking. The software’s features result in many benefits for an organization. These advantages have led to an uptick in its adoption.
The conventional timekeeping technologies were limited to being in a single place at once. Only a few could view them, depending on the number of copies. Software versions of these have no such limitations. They are geography and platform agnostic.
These modern time tracking tools are available in mobile, tablet, and desktop/web versions. Both employees and their supervisors install them on their respective devices. Office personnel can also view the same on their devices without having to move from their position.
The monitoring of each employee at every location is possible without manual intervention. This feature prevents disruptions in tracking due to human errors during filing and reporting.
Multiple employees working across time zones clocking in and out at different hours will create confusion at the centre of operations. Managing the variable shifts of contract employees is also a hassle with the traditional method. Real-time tracking and updating solve this problem in one fell swoop.
The clock calculator will show every employee’s work hours on the fly compared to their designated shift. It will be updated remotely to every device using the service instantaneously.
The employee will get their details, while supervisors and management will have every employee. This aggregation removes the tediousness and potential for error when creating a report at the end of the month.
Timekeeping related abuses like buddy punching and time padding can cost companies millions annually. A few minutes every day will add up to a large amount eventually. Such losses also affect the workflow as job completion will be delayed despite contradicting clocking data.
Variations in data like these add more problems while assessing it for monthly payroll. The variations will introduce unnecessary delays to the process. The punitive actions could upset the morale of the workers too.
Templates avoid these by structuring the data in easy-to-read layouts. The software automatically inputs the workers’ time data, decrementing, or eliminating fraudulent practices. Workers will also get paid without errors and on-time thanks to the elimination of fraud-related accounting delays.
Better Project Management
Project and product management are very hands-on and tedious functions. They demand the full attention of the manager at every step. This demand leaves them with little time to analyze the minutiae of their employees’ overall performance.
Timesheet templates record the data that can help determine an employee’s abilities and shortcomings. Data analysis will reveal how well a person has performed on the project. It can also show if they would be better suited to a different project.
The template will also make the transition to a different project easier. Any changes in timekeeping can be easily ported over and adjusted accordingly. Workloads between team members can be distributed easily too on either end after the shift.
Leaves, breaks, and time-offs can be precisely calculated, and the pay adjusted accordingly.
Jack of Many Trades
The software also allows integration of other platforms to it, and vice-versa. This versatility expands the functionality of the app by leaps and bounds. Integration with payroll management software, for example, will automate the process.
The payroll software will use the template analysis reports to calculate and even transfer the money to employees. The billing and invoicing software can use the job costs and time data to do the same to vendors and clients.
ERP software will use the timesheet data to streamline human resource allocation. The planner will also be able to manage tools based on the employee schedules in the template.
The monthly timesheet template removes the difficulties that people face during and at the end of the month. It is a one-stop solution to stop abuses of timekeeping while streamlining it for smooth operations.