Before starting the article, we would like to ask you a question.
How reliable and accurate is your company's timekeeping system? Not reliable enough?
If you wish you adopt a modern and digital form of employee time keeping, then you are at the right place!
With growing remote and hybrid work environments, companies across the globe have started using online timesheets to collect accurate data on employees. It has not only provided them with ease but has also reduced time and effort.
In this article, we’ve gathered some of the top benefits of digital timesheets to help you understand their importance for advanced businesses and make the right decision.
But first, Let’s take look at some of the challenges faced by companies using traditional timesheets.
Challenges with traditional timesheets
Here are some of the top challenges faced by companies using traditional timesheets, such as paper timesheets and punch cards.
Human error and exploitation:
According to ADP, the error rate for individuals manually processing time and attendance is between 1-8%. Paper timesheets can be manipulated and or mistakenly filled since many people don't recall the hours or days they have worked.
These sheets are filled out based on assumptions and can be misused and exploited, making them unreliable and easily falsified.
Waste employees' time:
Filling traditional timesheets takes a lot of time and effort from both employees and HR teams. Furthermore, some workers forget to submit their timesheets while carrying out other responsibilities. This affects the calculations of their total working hours and payrolls.
Forgetting to fill a timesheet also adds a burden to employees’ daily tasks as the rectification process can take forever.
Many employees who committed time theft said that they would simply record inaccurate timings. Paper entry allows employees to write any time they want and the real data is never noted until and unless someone is guarding the register.
Some employees also manage to do buddy punching in which another colleague adds the details of their friends when no one is checking or looking.
Additional work for other departments:
Traditional timesheets pass through several departments to make sure that each employee gets a fair share of their pay and bonuses. This process takes a lot of management’s time and effort to collect and compute timesheets of the employees.
5 key benefits of using digital timesheets
1. More accurate timekeeping:
A digital time tracker allows management to get a detailed insight into employees’ productivity, projects, tasks, and meetings, among others. The tracker provides them with different options on how they want to monitor the hours, work, and progress of their employees for the timesheet.
One thing it guarantees is accuracy. Since the trackers are automated, the data recorded is 100% credible and provides all the information required to prepare payroll, bonuses, and other things. Furthermore, the tracker will function as intended as long as the employees continue to enter their daily tasks and projects.
2. Reduces administrative burdens & improves efficiency:
Digital time tracker enables automated timesheet that helps in a real-time project, equipment, and workforce management. Employee performance can also be analyzed based on hours worked, attendance, and planned or unplanned holidays.
Digital timesheet provides all the above-mentioned information in one place which gives room for improvement to employees and companies to increase productivity and efficiency.
3. Reduces data entry, processing, and storage costs:
Time tracking software provides various automotive feature which includes automated tracking and data processing. It gathers and stores employee data and simplifies and streamlines the management process.
Time trackers, such as KonarkPro can help employees record their working hours, manage and divide their time according to the projects and tasks, and increase productivity.
4. Less room for human error:
The digital timesheet takes care of core tasks related to payrolls, such as payroll computation, data extraction, report generation, and specific entry searching. Employees and managers only need to input a small portion of the information.
It eliminates the possibility of human errors and loss or damage of timesheets. It also makes it easier for employees to compute and submit their timesheets.
5. Employees’ problems are easier to spot:
Time tracking software gives employers detailed information about their employees' working hours and helps them identify issues like inefficiency, distractions, uneven task distribution, and lack of motivation, among others.
Employees can also use it to improve their workload or discuss any issues related to it with their managers. Moving forward, they can identify the reason behind the problem and eliminate it with a solution.
Digital timesheets can bring ease and benefits to your organization. Above mentioned points are just a few of the benefits provided by them. There’s much awaiting you on the order side.
Looking for time tracking software with a detailed timesheet?
KonarkPro automatically collects, processes the data, and prepares a detailed report to help you get a clear picture of your employees' working hours and productivity periods.
Q. How do online timesheets work?
Online timesheets enable employees to record their time electronically and submit them to their managers.
Q. What are the benefits of time tracking?
- Increase productivity
- Increase profitability
- Manage projects better
- Bill and pay accurately