For instance, you give an employee two days of time to complete a 5-hour task, and then it takes them the full two days. You might have experienced it at some point in time. Believe it or not – time tracking, in fact, abides by Parkinson’s Law, stating that work expands with available time, which is allocated for its completion. The reason could be so many as there are plenty of distractions out there like social media, casual talks with colleagues, reading news, and so on. Managers improve operations and cut costs based on this input for maximizing profits.Īccording to a report by Harvard Business Review, the US economy loses around 50 million hours per day, which accounts for $7.4 billion. Generally, time tracking is considered a close relative of productivity that calculates how efficient a person is at completing their job. Should you go for employee time tracking in the first place? They are opting for ways to timeclock that an employee takes to accomplish a particular task for that matter. This is why modern organizations are now paying much attention to managing and utilizing their time properly. And why not the more productive your team can be, the more will be the earning potential. Proper time management can influence your organization’s success rate. It even translates to running a business or organization. If you can manage your time well, it decides a lot of important aspects of your life. It matters everywhere, be it personal or professional life. In this rapidly fast and competitive world, every second counts.
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