What Is Time Tracking?
Time tracking can be defined as the act of keeping track of how much time you spend on a specific task. This information will then be used to calculate your productivity and efficiency.
When it comes to time tracking, there are two main options. The first is by the hour, and the second is by the minute. When you track your time in detail, it allows you to see exactly how long each task takes. This lets you know if one task may take more or less time than another that requires a similar skill set. It also allows for better budgeting of resources like money so that you can allocate them accordingly.
Benefits of Time Tracking
- Transparency into work processes: One of the essential features of a time tracking template is transparency. Transparency allows you to keep track of everything employees are doing and how much time they spend on each task. This functionality will enable managers to see where there might be unnecessary spending or delays in projects and which studies can be done more efficiently by certain employees.
- Knowledge where resource demand is the highest: Resource demand is the highest in the time tracking template when looking at the Resources by Purpose column. This column displays how much of your resources are being used for each type of task, such as administrative or production tasks. You can also use this column to determine where you need more help and what kinds of skills your company needs to increase efficiency.
- Understanding your billing and operational efficiency: Time tracking templates are used to understand the billing and operational efficiency. The template helps you in understanding how much time an individual or group spends on any task. This data can be analysed against other metrics for a better decision-making process. Using these templates makes it easy for managers to track their billing and operational efficiency by exploring all the tasks they take up.
- Increased accountability in employees: Employee accountability is one of the most critical aspects of any business. A time tracking template can help increase employee accountability and improve your company's productivity. Time management templates allow employees to track their tasks, which will lead to better performance on the job.
- Tracking how the budget gets burned: Tracking the budget burned by time tracking can be a great way to reduce the amount of money wasted on tasks. In addition, tracking how much time has been spent on each task and what type of task it was can help you identify areas for improvement in your company.
Explain the types of Time Tracking in detail
There are many types of time tracking. It's essential to know the difference between them to choose what will work best for your company. To explain this, we'll go over three different categories: manual, automatic, and integrated.
- Manual Time Tracking - is when employees track their hours on a timesheet or log sheet at the end of each day. This gives them control over how they record their time and takes up extra administrative work for employers who must fill out sheets at the end of every day.
- Automatic Time Tracking- is when an employee clocks in with a card reader or by tapping their phone near a clock-in device whenever they start working on something new during the day without tracking and reporting their time in any other way. This is the most accurate type of tracking because it doesn't require intervention from employers but can be a little too strict for some employees who may not want to clock in every time they get back from lunch or work on something that isn't new.
- Integrated Time Tracking - integrates with existing employee payroll systems or HR software so that managers don't need to fill out time sheets manually at the end of each day. This takes care of all your organisation's reporting needs without requiring you to do extra work after hours! It also provides analytics for companies by showing them how many direct reports an employee has and gives a clear picture of which teams are working efficiently during certain parts.
Steps for Better Time Management:
- Create an actionable plan- Creating an actionable plan helps people better manage their time by setting goals and expectations. This prevents individuals from wasting time on unnecessary tasks or getting sidetracked by other things that come up throughout the day.
- Schedule your day and prioritise tasks -The first step to managing your time is to schedule it. One of the most effective ways to do this is with a time tracking template like the one below:
List tasks you need to accomplish for the day and estimate how long each will take (e.g., 1 hour). List what you'll need to complete that task. Rank these tasks by importance or urgency. When working on a task, only work on that task until it's finished and then move onto another one with an available slot (i.e., don't switch between different tasks during the same work session). You can either use this template for yourself or share it with team members to help them track their time for a day.
- Set a timer to help you stay on track with your schedule and focus on the task -Setting a timer will help you use the work-break cycle, which involves working for 45 minutes then taking 15-minute breaks back-to-back. The break gives you time to relax and refocus before starting another task or section of work. This will increase your productivity and keep you from burning out quickly - so it's essential to take advantage of this technique!
- Check off completed tasks - Tracking how much time you spend is an integral part of any project, but it can be hard to keep track of. The easiest way to do this is with a simple template that has check boxes for each task. You can then use these boxes to mark which tasks you have completed, and which ones are leftover. This provides a quick overview of what needs to be done next, so you never work on something irrelevant again!
- Set deadlines for yourself - Deadlines are a great way to keep yourself accountable and productive. They help you stay on task, break down tasks into manageable chunks, and make sure that you are finishing your work on time. But they don't always come easy - it's important to set deadlines for yourself so that you can get the most out of them!
- Tracking your progress - It can be not easy to stay on track with your time management when you are juggling multiple tasks. It is essential, however, to take the time to do so. Knowing how much time you have spent working on various projects makes it easier to prioritise what needs attention the most and what can wait until later.